The Presidency of the Council of the EU (the Council) has published a report for the Permanent Representatives Committee (COREPER), which considers the European Parliament’s amendments to the proposed Regulation establishing a single resolution mechanism.

The report notes that the European Parliament (EP) and the Council are committed to reach a political agreement by the end of March, in time for the April plenary session of the EP, which would be the last opportunity to confirm the political agreement by a vote of the EP before the end of the current legislative term.

However, the report notes that during the trilogues a number of substantial differences between the co-legislators have emerged. Due to the political nature of the differences the Presidency is seeking an updated mandate on the issues contained within the report so that it can move forward in the negotiations and explore compromise solutions.

View Proposal for a Regulation of the European Parliament and of the Council establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Bank Resolution Fund and amending Regulation (EU) No 1093/2010 of the European Parliament and of the Council [First reading] – Consideration of the European Parliament’s a¬mendments in preparation for political agreement, 7 February 2014