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Image header Agence Europe
Europe Daily Bulletin No. 12135
Contents Publication in full By article 19 / 27
NEWS BRIEFS / Banks

In 2019, Single Resolution Board will further refine preparatory work for resolution

12/11/2018 (Agence Europe) – In its work programme for 2019, the Single Resolution Board (SRB) plans to adapt bank resolution plans to the specificities of financial institutions directly under its responsibility and to facilitate the removal of obstacles to resolution. Attention will be focused on resolving smaller banks that are not systemic. Next year, the Single Resolution Fund (SRF) will reach 33 billion euros in contributions from national banking systems (target of 55 billion in 2024). It should also have a backstop, with the European Stability Mechanism acting as a lender of last resort. "It always needs to be kept in mind that the provision of the backstop is not a second resolution decision, but a last resort measure for the SRB," said Elke König, Chair of the Single Resolution Board. See: http://bit.ly/2DBqhkB.  (MB)

Contents

INSTITUTIONAL
UNITED KINGDOM: London and EU are trying to make a breakthrough on Irish question as soon as possible, which is key to negotiations leading to Brexit
BUDGET: Council is divided on timetable for adoption of MFF 2021-2027 and its scope
RULE OF LAW: progress points in examination procedures opened against Hungary and Poland
ALDE: team Europe will be announced at a congress in February 2019
EP2019: Gregor Gysi, 'left must remain internationalist!'
FUTURE OF THE EU: forces of left want to set up a permanent collaboration structure
SECTORAL POLICIES
TRANSPORT: first ‘mobility’ package, two new draft compromises submitted to European Parliament on posting and rest periods of drivers
TRANSPORT: Vienna reportedly made minor changes to draft compromises on ‘mobility’ package
DIGITAL: Platform/business relations, towards a political agreement in principle at Council at end of November
DIGITAL TECHNOLOGY: ePrivacy, Austrian Presidency of Council backtracks on confidentiality of electronic communications
CLIMATE: EU's adaptation strategy can be more effective, but remains relevant, according to Commission
ENVIRONMENT: pesticides, search for a political compromise begins on report of European Parliament’s Special PEST Committee
RESEARCH: Court of Audit gives a positive opinion for all but one of Joint Technology Initiatives
JUSTICE: MEPs call for common minimum standards for protection of minorities in EU
FISHERIES: Atlantic coastal states reach agreement on blue whiting and Atlanto-Scandian herring
AGRICULTURE: ‘state aid’ decision to cover all damage caused by wolves
ECONOMY - FINANCE - BUSINESS
TAXATION: Work on taxation of Internet giants is gaining momentum in Council
EXTERNAL ACTION
UKRAINE: as expected, EU does not recognise 11 November elections in breakaway regions
NEWS BRIEFS
BANKS: in 2019, Single Resolution Board will further refine preparatory work for resolution
CYPRUS: opening of two new crossing points
UNITED STATES: EU in solidarity with United States mourning forest fires in California
ITALY: According to Mr Di Maio, respecting European budgetary commitments is economic 'suicide'
JORDAN: EU in solidarity with Jordan mourning floods
DIGITAL: end of legislative procedure on free movement of data
RO2019EU: Romania is not ready to hold six-month Presidency of Council of EU, warns Klaus Iohannis
SRI LANKA: EU denounces dissolution of Parliament by President
WEEKLY SUPPLEMENT
European Library: No. 1238