The European Stability Mechanism (ESM) has announced that its Board of Governors has adopted the ESM direct recapitalisation instrument (DRI) for euro area financial institutions.As one of the building blocks of EU banking union, the DRI allows the ESM to directly recapitalise a systemic and viable euro area financial institution. This will be used as a last resort and under specific circumstances.

View ESM direct bank recapitalization instrument adopted, 8 December 2014