On Thursday 26 March, the European Parliament ratified by acclamation the agreement with the Council of the European Union on the ‘CMDI’ legislative package aimed at strengthening the management of a crisis arising from a failing bank (see EUROPE B13668A10).
The main objective of the reform was to broaden the scope of a banking resolution by including small and medium-sized banks that do not have ‘MREL’ assets that can be mobilised (regulatory minimum threshold of 8% of...