Press Release: Banking: Commission consults industry on reorganisation and winding up of credit institutions

The European Commission has launched a public consultation on the Directive on reorganisation and winding up of credit institutions. The Commission is seeking to analyse whether the Directive (2001/24/EC) completely fulfils its objectives, whether it could be extended to cross-border banking groups, and how obstacles related to asset transferability within such groups can be addressed. Stakeholders are invited to give the Commission their views on the issues by 30 September 2007.