Brussels, 10/02/2016 (Agence Europe) - On Wednesday 10 February, the national ambassadors of the member states to the EU (Coreper) are not expected to express any objections to the draft regulation of the European Commission laying out the investment strategy of the Single Resolution Fund (SRF), the financial arm of banking union in the eurozone.
This regulation provides indications as to the composition of the portfolio of assets in which the SRF fund may invest. 60% of this portfolio must, for instance, comprise the following assets: liquid money, bank assets, public entity, central-bank or multilateral bank securities. Rules have been brought in to promote geographical diversification of the portfolios and in the nature of securities issuers.
The Single Resolution Fund, which has been in place since January 2016, will have an envelope of more than €10 billion this year and is expected to have an envelope in the region of €55 billion by 2024 (1% of bank deposits covered) (see EUROPE 11473). (Original version in French by Mathieu Bion)