|Author (Corporate)||European Commission: DG Financial Stability Financial Services and Capital Markets Union|
|Series Details||COM (2021) 665|
Legislative initiative tabled by the European Commission on 27 October 2021, introducing amendments to Regulation (EU) No 575/2013 and Directive 2014/59/EU concerning the prudential treatment of global systemically important institution groups with a multiple point of entry resolution strategy and a methodology for the indirect subscription of instruments eligible for meeting the minimum requirement for own funds and eligible liabilities. This is a text with EEA relevance.
Regulation (EU) No 575/2013 - also known as the Capital Requirements Regulation (CRR) - established a single set of harmonised prudential rules, which banks throughout the European Union (EU) must respect. Directive 2014/59/EU established common rules in the European Union (EU) for the recovery and restructuring of failing banks.
The so-called Daisy Chain proposal was put forward by the European Commission on 27 October 2021, as part of the so-called 2021 Banking Package. Its aim was to amend the CRR in aspects relating to resolution by:
Member State representatives adopted a general approach for this file on behalf of the Council of the European Union on 21 December 2021. The European Parliament adopted its negotiating position in February 2022. An informal agreement between the co-legislators on a compromise text for this file was reached on 28 April.
|Subject Categories||Economic and Financial Affairs|
|Subject Tags||Banking Union, Financial Services|
|Keywords||Banks | Banking
|International Organisations||European Union [EU]|