Go back to the Europarl portal

Choisissez la langue de votre document :

  • bg - български
  • es - español
  • cs - čeština
  • da - dansk
  • de - Deutsch
  • et - eesti keel
  • el - ελληνικά
  • en - English (Selected)
  • fr - français
  • ga - Gaeilge
  • hr - hrvatski
  • it - italiano
  • lv - latviešu valoda
  • lt - lietuvių kalba
  • hu - magyar
  • mt - Malti
  • nl - Nederlands
  • pl - polski
  • pt - português
  • ro - română
  • sk - slovenčina
  • sl - slovenščina
  • fi - suomi
  • sv - svenska
Parliamentary questions
PDF 102kWORD 23k
20 November 2015
Question for written answer E-014925-15
to the Commission
Rule 130
Elisa Ferreira (S&D)

 Subject:  Common bridge financing -- Single Resolution Mechanism
 Answer in writing 

The Single Resolution Mechanism (SRM) will be operational on 1 January 2016 and requires a bridge financing instrument that is fully functioning by the same date. This compromise was an essential component of the final agreement on the SRM between the two co-legislators, and has been repeatedly confirmed in several legal and political texts.

Four months ago, the ‘Five Presidents Report’, which was co-signed by the President of the Council, reaffirmed that the Banking Union needs ‘a swift agreement on an adequate bridge financing mechanism — a way of ensuring there is enough money if a bank needs to be unwound even if the financing in the Single Resolution Fund is not enough at that time — for the Fund by the time it becomes operational on 1 January 2016’.

The same Report adds that ‘setting up a credible common backstop to the Single Resolution Fund (…) should be a priority during the transition period to the creation of the Single Resolution Fund’ and that it ‘could be done through a credit line from the European Stability Mechanism (EM) to the Single Resolution Fund’.

Can the Commission confirm that this common bridge financing mechanism will be fully operational on 1 January 2016?

Legal notice - Privacy policy