On 11 November 2020, the European Commission published for consultation an initiative to review the EU’s bank crisis management and deposit insurance framework. The review focuses on the three EU legislative texts currently in force – the Bank Recovery and Resolution Directive, the Single Resolution Mechanism Regulation, and the Deposit Guarantee Schemes Directive. The main purpose of the review is to increase the efficiency, flexibility and overall coherence of the framework for handling EU bank failures in resolution or insolvency, to ensure equal treatment of depositors and to enhance the level of depositor protection, including through the possibility of creating a common depositor protection mechanism. The review is also part of the agenda for the completion of the Banking Union, as emphasised in President von der Leyen’s Political Guidelines including through the creation of a European Deposit Insurance Scheme to enhance depositor confidence and through measures for a robust bank resolution and insolvency framework. It is also mentioned in the Commission’s work programme for 2021.