Press Release: Council adopts rules on bank recovery and resolution

The Council of the European Union on 6 May 2014 at the Economic and Financial Affairs meeting in Brussels adopted a directive harmonising national rules on bank recovery and resolution.

The directive provides national authorities with common powers and instruments to pre-empt bank crises and resolve any financial institution in an orderly manner in the event of failure, whilst preserving essential bank operations and minimising tax payers' exposure to losses.

ESO: Background information: ECB publishes SSM Framework Regulation http://www.europeansources.info/record/press-release-ecb-publishes-ssm-framework-regulation/

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