The Council of the EU (the Council) has published its latest compromise proposal on the European Commission’s legislative proposal for a Regulation establishing a single resolution mechanism for the European banking union (the SRM Regulation).
The Presidency of the Council has also published a report containing details of the key outstanding issues relating to the draft SRM Regulation and the concerns raised by national delegations.
In particular, the report mentions that the latest compromise proposal contains revisions relating to:
- the equal treatment of non-participating Member States;
- the role of the single resolution board and the European Commission in the resolution process; and
- clarification of the rules on the calculation of contributions to the single resolution fund.
The Presidency calls on the Council to agree a general approach on the draft SRM Regulation and to invite it to start negotiations with the European Parliament as soon as possible with a view to reaching agreement at first reading.
