|Author (Corporate)||European Commission: DG Communication|
|Series Title||Press Release|
|Series Details||IP/16/3731 (23.11.16)|
The European Commission released on 23 November 2016 a package of measures aimed at building on existing banking rules and completing the post-crisis regulatory agenda. These should further support resilience and stability of the financial system.
The Council of the European Union adopted its general approach on these measures - focusing on the CRR/CRD, BRRD and SRMR - on 25 May 2018.
The package comprises a set of legislative initiatives which implement international standards into EU law, while taking into account European specificities and avoiding undue impact on the financing of the real economy. They also take into account the results of the Call for Evidence. The initiatives launched on this occasion were:
+ [COM(2016)851] Proposal for a Regulation amending the Single Resolution Mechanism Regulation (SRMR);
The European Commission committed in its Communication on the completion of the Banking Union to bringing forward proposal based on international agreements in order to address identified weaknesses in the existing prudential framework. The particular commitment was part of the package of risk-reducing measures aimed at achieving further progress in completing the Banking Union.
|Subject Categories||Business and Industry|
|Countries / Regions||Europe|