Press Release: Financial Services: Commission requests 11 Member States to apply EU rules on Bank Recovery and Resolution

On 28 May 2015, the European Commission requested Bulgaria, the Czech Republic, France, Italy, Lithuania, Luxembourg, the Netherlands, Malta, Poland, Romania and Sweden to fully implement the Bank Recovery and Resolution Directive (BRRD).

This Directive (2014/59/EU) is a centrepiece of the EU's Banking Union that was put in place to create a safer and sounder financial sector in the wake of the financial crisis.

• Primary Source

ESO: Background information: May infringements package: main decisions http://www.europeansources.info/record/memo-may-infringements-package-main-decisions-2/

ESO: Background information: A single rulebook for the resolution of failing banks will apply in the EU as of 1 January 2015 http://www.europeansources.info/record/press-release-a-single-rulebook-for-the-resolution-of-failing-banks-will-apply-in-the-eu-as-of-1-january-2015/

---