| Author (Person) | Deslandes, J., Magnus, M. |
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| Publisher | European Parliament: European Parliamentary Research Service (EPRS) |
| Series Title | Briefing |
| Publication Date | April 2018 |
| Content Type | Research Paper |
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Summary: Further to recent resolution and liquidation cases experienced in the Banking Union, both the Single Resolution Mechanism (SRM) and the Single Supervision Mechanism (SSM) have called for further harmonisation of insolvency law. In April 2018, the SRB stressed that 'the divergence of national insolvency laws is a major obstacle towards a fully-fledged Banking Union'. As part of the SRM review due by 31 December 2018, the European Commission shall 'evaluate the necessity of taking steps order to harmonise insolvency proceedings for failed institution'. This briefing explains why the completion of the Banking Union might need to be underpinned by further progress in harmonising Member States’ insolvency law. |
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| Source Link |
Link to Main Source
http://www.europarl.europa.eu/thinktank/en/document.html?reference=IPOL_BRI(2018)614514
Alternative sources
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| Subject Categories | Business and Industry, Economic and Financial Affairs |
| Subject Tags | Banking Union, Financial Services |
| Keywords | Insolvency |
| International Organisations | European Union [EU] |
