On Tuesday 10 October, the committee on economic and monetary affairs of the Parliament adopted its position for negotiations with the Council of the EU on the proposed directive modifying the hierarchy of creditors to be called upon to contribute in the event of bank resolution, as laid down in the 'BRRD' directive(see EUROPE 11819).
In order to improve the protection of depositors, the MEPs support the introduction of a new category of assets made up of debt instruments classified as...