European Commission Consults On Contributions By Firms To Resolution Mechanisms

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The European Commission launched a consultation on the contribution of banks to the resolution financing arrangements.
European Union Finance and Banking

On 20 June 2014, the European Commission launched a consultation on the contribution of banks to the resolution financing arrangements under the Recovery and Resolution Directive ("RRD") and the Single Resolution Mechanism Regulation ("SRMR"). The RRD provides for, amongst other things, the resolution of failing banks and investment firms in Europe. The SRMR implements the RRD for Eurozone banks supervised under the Single Supervisory Mechanism. The consultation relates to the calculation of contributions, proportionality, the weight to be given to the flat part of the contribution vis-à-vis the risk-adjusted part and individual risk indicators. Responses to the consultation are due by 14 July 2014 and will be taken into account in the Commission's preparation of the secondary legislation due under the RRD and the SRMR.

The consultation page is available at: http://ec.europa.eu/internal_market/consultations/2014/credit-institutions-contributions/index_en.htm.

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