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A single rulebook for the resolution of failing banks will apply in the EU as of 1 January 2015

Posted by seumasach on July 20, 2015

“From now on, it will be the bank’s shareholders and their creditors who will bear the related costs and losses of a failure rather than the taxpayer.

European Commission

31st December, 2014

A single rulebook for the resolution of banks and large investment firms in all EU Member States is set to enter into force as of 1 January 2015. The new rules will harmonise and improve the tools for dealing with bank crises across the EU. They will also ensure shareholders and creditors of the banks pay their share of the costs through a “bail-in” mechanism.

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