Press Release: Council agrees position on bank resolution

The Council on 27 June 2013 set out its position on a draft directive establishing a framework for the recovery and resolution of credit institutions and investment firms.

The proposed directive is aimed at providing national authorities with common powers and instruments to pre-empt bank crises and to resolve any financial institution in an orderly manner in the event of failure, whilst preserving essential bank operations and minimising taxpayers' exposure to losses.

ESO: Background information: Statement of Commissioner Barnier following agreement in ECOFIN on bank recovery and resolution http://www.europeansources.info/record/memo-statement-of-commissioner-barnier-following-agreement-in-ecofin-on-bank-recovery-and-resolution/

ESO: Background Information: Finance ministers strike deal to stem bank bailouts http://www.europeansources.info/record/finance-ministers-strike-deal-to-stem-bank-bailouts/

---