euractiv.com The Single European Mechanism (SRM) will be launched over the next three months, with the aim of rescuing or winding up stricken banks with minimal recourse to taxpayers’ money. The SRM will consist of a board and a fund, and will cover banks overseen by the Single Supervisory Mechanism (SSM) which became operational last month, and represents a concluding part of the new Banking Union. The board will be the European resolution authority for the Banking Union and will work in close cooperation with national resolution authorities of participating member states. For the first three months of next year it will operate as a transitional taskforce from the EU executive... to read more: euractiv.com
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