The European Central Bank (ECB) and the Single Resolution Board (SRB) welcome the European Commission’s proposed legislative changes to the European bank crisis management and deposit insurance framework.

“Over the past ten years, Europe has already made significant progress in establishing a robust framework for dealing with banks in financial difficulties and bank failures. Taking this a step further is something we very much welcome,” said Luis de Guindos and Andrea Enria, respectively Vice-President and Chair of the Supervisory Board of the ECB. “The legislative proposals will enable the authorities to manage bank crises in a more efficient and harmonised way and are therefore an important step towards completing the banking union.”

“The proposals contain many positive developments….