MIL-OSI Europe: Briefing – Bank crisis management and deposit insurance – 31-05-2024

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Source: European Parliament

On 18 April 2023, the European Commission tabled a package of proposals to amend the bank crisis management and deposit insurance (CMDI) framework. The objective of the reform is to calibrate the framework so as to further deepen harmonisation and reduce the use of taxpayer funding to rescue failed banks. More specifically, the proposal would amend the early intervention procedure and the decision to resolve a failing bank in the public interest. It would also encourage the use of funding from national deposit guarantee schemes in resolution. In Parliament, the Committee on Economic and Monetary Affairs (ECON) is responsible for the files and has adopted its reports. Parliament adopted its first-reading position on the files during its April II plenary session. Third edition. The ‘EU Legislation in Progress’ briefings are updated at key stages throughout the legislative procedure.

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