Brussels, 17/12/2015 (Agence Europe) - On Thursday 17 December, the European Commission approved the extension, until 30 June 2016, of the Irish credit union resolution scheme.
The objective of the Irish scheme is to safeguard financial stability and to reduce the financial losses as much as possible when a credit union becomes unable to meet the regulatory requirements. It allows for the orderly winding-up of the failing credit union through the transfer, within the framework of a...