SRB statement: Crisis Management and Deposit Insurance political agreement

The SRB welcomes the political agreement reached between the European Parliament and EU Member States on the Crisis Management and Deposit Insurance (CMDI) reform. This important reform has the potential to enhance the current framework by providing more options for dealing with smaller and mid-sized banks in crisis. In addition, it improves several technical aspects of our framework, based on lessons learned in the first 10 years of the SRM. The SRB stands ready to support legislators in the last steps for CMDI, and prepares to apply the new rules, when finalised, in our day-to-day work on resolvability and crisis preparedness. Yesterday’s political agreement is a step forward to unlocking the pending reforms for the completion of the Banking Union, which is essential to strengthen Europe’s resilience and competitiveness.