Author (Corporate) | European Commission: DG Communication |
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Series Title | Press Release |
Series Details | IP/17/4182 (25.10.17) |
Publication Date | 25/10/2017 |
Content Type | News |
Further information: The European Commission, the European Parliament and the Council of the European Union agreed on elements of the review of the Bank Recovery and Resolution Directive (BRRD) and of the Capital Requirements Regulation (CRR) and Directive (CRD) proposed in November 2016 as part of the Banking Reform Package. The agreement on the BRRD creates a new category of unsecured debt in bank creditors' insolvency ranking. It establishes an EU harmonised approach on the priority ranking of bank bond holders in insolvency and in resolution. The agreement on the CRR/CRD implements the new International Financial Reporting Standard (IFRS 9). This will help mitigate the impact of IFRS 9 standards on EU banks' capital and ability to lend. It will also avoid potential disruptions in government bond markets that would result from rules limiting large exposures to a single counterparty. The institutions of the European Union reached on 25 October 2017 a political agreement to fast-track selected parts of the EU Banking Reform package. |
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Source Link | http://europa.eu/rapid/press-release_IP-17-4182_en.htm |
Related Links |
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Subject Categories | Business and Industry |
Countries / Regions | Europe |
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