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SRM Update

On 6 December 2013, the Presidency of the EU Council published its latest compromise proposal (17410/13) with respect to the single resolution mechanism (SRM). Changes to the previous compromise text (17055/13) are highlighted in bold and underlined. The Council has also published a Presidency report (17411/13)  dated 6 December 2013 detailing key outstanding issues relating to the SRM Regulation including:

• Establishing a single resolution fund ; and

• Advancing the bail-in date.

The Council is now invited to finalise the agreement on the general approach on the SRM Regulation and calls on the Presidency to start negotiations with the European Parliament as soon as possible on the basis of the general approach with a view to reaching agreement at first reading.

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