BANCI | ENGLISH

Single Resolution Fund (SRF) to be fully operational on 1 January 2016

Autor: Bancherul.ro
2015-12-08 17:33

Statement on Banking Union and bridge financing arrangements for the Single Resolution Fund (Council of the EU press release):

On 8 December 2015, ministers issued the following statement 1:

ECOFIN Ministers reaffirm the importance of deepening the Banking Union in the context of a well-functioning Economic and Monetary Union. Following the successful establishment of the Single Supervisory Mechanism (SSM), we welcome the forthcoming entry into force of the intergovernmental agreement on the transfer and mutualisation of contributions to the SRF (IGA), which will allow the Single Resolution Fund (SRF) to be fully operational on 1 January 2016.

In line with the commitment taken in December 2013, Member States participating in the Banking Union agree to put in place a system of bridge financing arrangements in order to ensure sufficient funding to the SRF during the transitional period. As of 2016, each participating Member State will enter into a harmonised Loan Facility Agreement with the Single Resolution Board (SRB), providing a national individual credit line to the SRB to back its national compartment in the SRF in case of possible funding shortfalls following resolution cases of banks of the Member State concerned. With this agreement, participating Member States ensure a credible start of the SRF as of early 2016.

The maximum aggregate amount of the credit lines of euro area Member States will amount to EUR 55bn, with a repartition key among Member States which follows the 2014 estimates of the Commission for contributions to the SRF. The aggregate amount and the repartition key will be reviewed by the end of 2017 or earlier, if a non-euro area Member State joins the Banking Union.

The individual credit lines are to be drawn as a last resort, after having exhausted all other financing sources, including bail-in requirements under the BRRD as well as the steps foreseen under Article 5(1) of the IGA including the SRB's external borrowing capacity. Such system of national credit lines will ensure the protection of taxpayers and will be fiscally neutral over the medium term, as the banking sector of the Member State concerned will be liable for repayment of the amounts drawn under the credit line. It will ensure equivalent treatment across all Member States participating in the Banking Union in terms of rights and obligations, as well as incurring no costs for Member States not participating in the Banking Union.

In line with the agreement of December 2013, a common backstop to the SRF will also be developed during the transitional period, and will be fully operational at the latest by the end of the transitional period, when resources of the SRF are fully mutualised. Progress shall be reviewed soon after the entry into force of the SRF. The common backstop also will be fiscally neutral over the medium-term and will ensure equivalent treatment across all participating Member States, as well as incurring no costs for Member States not participating in the Banking Union.

Once the SRF enters into force and when participating Member States have ratified the IGA and fully transposed the BRRD, Member States will take stock of the establishment of the bridge financing arrangements and consider the way forward and timing regarding the work on the common backstop, to ensure that it will be fully operational at the latest by the end of the transitional period. Member States will also reflect further in 2016 on measures needed to continue deepening the Banking Union.

1 Adopted by Ministers of the 28 Member States meeting in the margins of the Council (ECOFIN).

Comentarii

Adauga un comentariu

Adauga un comentariu folosind contul de Facebook

Alte stiri din categoria: ENGLISH

Merger of Alpha Bank and UniCredit Bank Romania

Press Release: "Alpha Services and Holdings announces a strategic partnership with UniCredit in Romania Merger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by total assets, with Alpha Bank retaining a detalii

National Bank of Romania (NBR) Board decisions on monetary policy

NBR Board decisions on monetary policy In its meeting of 4 April 2023, the Board of the National Bank of Romania decided: • to keep the monetary policy rate at 7.00 percent per annum; • to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per annum; • to keep the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions. The annual inflation rate went down to 15.52 percent in February 2023, from 16.37 percent in December 2022, relatively in line with forecasts. The decrease was mainly driven by the sizeable drop in the dynamics of fuel and detalii

ING posts 2022 net result of €3,674 million, dividend of €0.389 per share

ING press release: ING posts FY2022 net result of €3,674 million,
proposed final 2022 dividend of €0.389 per share

4Q2022 profit before tax of €1,711 million; CET1 ratio remains strong at 14.5%
•
Profit before tax up 29% on 4Q2021 and 24% on 3Q2022, mainly driven by higher income
•
Higher net interest income, as a further increase in liability margins helped offset TLTRO impact this quarter
•
Risk costs declined to 17 bps of average customer lending

Full-year 2022 net result of €3,674 million, supported by growing customer base and increase in lending and deposits
•
On a full-year basis, our primary customer base grew by 585,000 detalii

BT Financial Results as at 30 September 2022

BT Financial Results as at 30 September 2022 Banca Transilvania – sustained growth in customers and operations during the first nine months of the year "We continued our robust growth in the number of clients and transactions, with a dynamic well above the market average. We have been growing steadily and continued financing companies and individuals, despite the fact that the financial market is more fraught with uncertainty than ever and
the funding costs and capital requirements are additional factors driving the uncertainty in the economy. We remain committed to our objective - to be the main supporter of the economy and of the state for the development of Romania", states Mr. Ӧmer Tetik, Chief Executive detalii

Vezi toate stirile

10.11.2024

1 EUR = lei
1 USD = lei

Sursa BNR

Profil de Bancher

Daniela Soare, Director Adjunct Divizia Suport Operatiuni
Procredit Bank

... vezi profil

Toate Profilele

Profil de Banca

CEC Bank

vezi detalii

Toate Bancile

Filmul Parking, un cliseu plictisitor

Toate stirile

ING Bank

Toate stirile

Ultimele Comentarii

Bancnote vechi
Numar de ... detalii
Bancnote vechi
Am 3 bancnote vechi:1-1000000lei;1-5000lei;1-100000;mai multe bancnote cu eclipsa de ... detalii
Schimbare numar telefon Raiffeisen
Puteti schimba numarul de telefon la Raiffeisen din aplicatia Smart Mobile/Raiffeisen Online, ... detalii
Vreau sa schimb nr de telefon
Cum pot schimba nr.de telefon ... detalii
Eroare aplicație
Am avut ora și data din setările telefonului date pe manual și nu se deschidea BT Pay, în ... detalii

Nume	*
E-mail	*
E-mail prieten	*
Mesaj
Cod validare	*
	Tastati codul din imagine (doar cifre)
	195.154.184.126