On 2 April 2024, the European Parliament’s Committee on Economic and Monetary Affairs (ECON) published three reports that it has adopted in relation to the European Commission’s (Commission) crisis management and deposit insurance (CMDI) legislative package. The set of reports consists of:
- A report on the proposal for a directive amending the Bank Recovery and Resolution Directive 2014/59/EU (BRRD), as regards early intervention measures, conditions for resolution and financing of resolution action.
- A report on the proposal for a regulation amending the Single Resolution Mechanism (SRM) Regulation (EU) No 806/2014 as regards early intervention measures, conditions for resolution and funding of resolution action.
- A report on the proposal for a directive amending the Deposit Guarantee Schemes (DGS) Directive 2014/49/EU (DGSD) as regards the scope of DGS funds, cross border cooperation and transparency.
Each of the reports contains a draft European Parliament legislative resolution, which sets out ECON’s proposed amendments to the draft text of the proposed legislation. ECON voted to adopt these texts in March 2024.
For more information on the proposed changes, please see our blog from March 2024.