Interview by Dominique Laboureix - The first man of the European Banking Union sees changes for the better, but warns: This is not the time for excessive optimism

This spring the European Commission initiated changes with respect to the potential resolution of banks. In addition to natural persons, depositor protection is to be extended to schools, hospitals, municipalities and other public institutions. When are these changes expected to become effective?

DL: The changes that the European Commission proposed in April 2023 to improve the EU bank crisis management and deposit insurance framework are part of its efforts to complete the banking union and enhance financial stability in the EU.  

The Commission’s proposal is currently under discussion by the European Parliament and the Council of the European Union, which are the co-legislators in the EU.  If I’m not mistaken, The Commission hopes that these institutions will adopt the proposal as soon as possible, so that it can enter into force by 2025.