The EU framework to resolve failing banks has proved in
several recent high-profile cases that it works. But more
progress is needed at both EU and national levels to
ensure that the too-big-to-fail problem is laid to rest once
and for all, and that banks become properly resolvable.
That was the message at the Single Resolution
Board’s annual conference in Brussels today.
The financial crisis has changed the way the financial and
economic markets and their participants see the resilience of
the financial system. Soundness and resolvability of financial
institutions are two key objectives of the Banking Union - the
so-called first two pillars - that are well underway in being
The third element, a single deposit insurance framework, has
not been implemented, and this needs to be solved if the Union
is to live up to its promises, Danièle Nouy, chair of
the Supervisory Board at the...