Author (Corporate) | European Commission: DG Communication |
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Series Title | Press Release |
Series Details | IP/13/674 (10.07.13) |
Publication Date | 10/07/2013 |
Content Type | News |
The European Commission proposed on 10 July 2013 a Single Resolution Mechanism (SRM) for the Banking Union. The mechanism would complement the Single Supervisory Mechanism (SSM) which, once operational in late 2014, would see the European Central Bank (ECB) directly supervise banks in the euro area and in other Member States which decide to join the Banking Union. The Single Resolution Mechanism would ensure that – not withstanding stronger supervision - if a bank subject to the SSM faced serious difficulties, its resolution could be managed efficiently with minimal costs to taxpayers and the real economy. |
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Source Link | http://europa.eu/rapid/press-release_IP-13-674_en.htm |
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Subject Categories | Business and Industry |
Countries / Regions | Europe |
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