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In April 2023, the European Commission presented a legislative proposal to update the 2014 bank crisis-management framework. The new rules, despite not being finalised, are already causing a stir among practitioners and banks.
During the 2007–09 global financial crisis, €213bn of taxpayers’ money was lost as a result of EU bank rescues. The bloc tried to bring an end to taxpayer-funded bailouts when it adopted the Bank Recovery and Resolution Directive (BRRD) in 2014 and established the Single Resolution Board (SRB) in 2015 as the central resolution authority in the euro area.
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The minimum requirements for own funds and eligible liabilities, or MREL, is a critical tool for ensuring resolvability at bank level and financial...

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The SRB aims to achieve greater financial stability for every euro invested in resolution planning – a benefit that will be shared by both banks and...

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Resolution is part of a safety net that guarantees better financial stability without incurring costs for taxpayers yesterday.
The banking system is...