ECONOMY - FINANCE - BUSINESS / Banks

Inter-institutional agreement on hierarchy of bank creditors and IFRS9 accounting standard

Brussels, 26/10/2017 (Agence Europe)

On the evening of Wednesday 25 October, the representatives of the European Parliament and Council of the EU reached a political agreement on two legislative proposals of the 'Banking risk reduction' legislative package: - the proposed directive on the hierarchy of contributing creditors in the event of banking resolution, and; - the proposed regulation on the application of international accounting standard IFRS9.

Presented by the Commission in late November 2016 (see EUROPE 11674), this...