| Author (Corporate) | European Commission: DG Communication |
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| Series Title | Press Release |
| Series Details | IP/16/3731 (23.11.16) |
| Publication Date | 25/05/2018 |
| Content Type | News |
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Summary: 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. Further information: 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)850] Proposal for a Regulation amending a series of elements of the Capital Requirements Regulation (CRR); + [COM(2016)851] Proposal for a Regulation amending the Single Resolution Mechanism Regulation (SRMR); + [COM(2016)852] Proposal for a Regulation amending a set of Directives regardiong loss-absorbing and recapitalisation capacity of credit institutions and investment firms; + [COM(2016)853] Proposal for a Regulation amending the Bank Recovery and Resolution Directive (BRRD) on ranking of unsecured debt instruments in insolvency hierarchy; + [COM(2016)854] Proposal for a Regulation amending the Capital Requirements Directive (CRD IV). 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. |
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| Source Link | Link to Main Source http://europa.eu/rapid/press-release_IP-16-3731_en.htm |
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| Subject Categories | Business and Industry |
| Countries / Regions | Europe |
