Press Release: A single rulebook for the resolution of failing banks will apply in the EU as of 1 January 2015

A single rulebook for the resolution of banks and large investment firms in all EU Member States entered into force on 1 January 2015.

The new rules would harmonise and improve the tools for dealing with bank crises across the EU. They would also ensure shareholders and creditors of the banks pay their share of the costs through a 'bail-in' mechanism

• Primary Source

ESO: Key Source: European Banking Union http://www.europeansources.info/record/european-banking-union-2/

ESO: Background information: ECB: Banking supervision http://www.europeansources.info/record/banking-supervision/

European Commission: Banking and Finance: Banking: Crisis management http://ec.europa.eu/finance/bank/crisis_management/index_en.htm

---