The Member States’ ambassadors to the European Union (Coreper) reached a political agreement in principle on Tuesday 21 December on a proposed directive revising the regulatory framework for the resolution of failing banking groups.
As part of the legislative package finalising the integration of the ‘Basel III’ agreement in the EU (see EUROPE B12821A2), the so-called ‘Daisy Chain’ legislative proposal introduces “targeted adjustments” that are essential to improve a bank’s...