On 6 December 2023, the Council of the EU and the European Parliament reached a provisional political agreement on the so called Daisy Chains proposal which amends the Bank Recovery and Resolution Directive and the Single Resolution Mechanism Regulation to include targeted proportionality requirements to the treatment of internal MREL in bank resolution groups. The provisional political agreement reached by the European Parliament and the Council will now have to be approved by COREPER II and the Economic and Monetary Affairs Committee, followed by a plenary and the Council vote.