The Single Resolution Board responded to the European Commission targeted consultation on the review of the bank crisis management and deposit insurance (CMDI) framework.
About the consultation
In the aftermath of the global financial crisis, the EU laid down the rules for handling bank failures and enhancing depositor protection. The targeted consultation is part of the overall consultation strategy of the European Commission for the review of the bank CMDI framework and focuses on three EU legislative texts: the Bank Recovery and Resolution Directive (BRRD), the Single Resolution Mechanism Regulation (SRMR), and the Deposit Guarantee Schemes Directive (DGSD). The consultation sought to gather stakeholders’ experience with the current crisis management and deposit insurance framework as well as their views on the revision of the framework, which is part of the debate on the completion of the banking union and in particular its third and missing pillar EDIS.
The SRB provided replies (in blue in the document) to the different European Commission’s questions, with an emphasis on the completion of the banking union and establishment of its third pillar, the European deposit insurance scheme (EDIS).
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