Avoiding forbearance is the single most effective measure that authorities can take under current law and regulation to paves the path to completing banking union. In practical terms no forbearance requires authorities declare a bank failing or likely to fail at a point where the bank no longer meets threshold conditions, but still has positive net worth.
EU consultation
Banking Union: Review of the bank crisis management and deposit insurance framework (BRRD review)
10 submissions from 10 organizations told the European Commission what they think about this file. Here is what each of them said, in their own words.
The Commission lists 112 submissions on this file. Shown here: the 10 from organizations. Not shown, by design: submissions from private individuals, which we never publish, and anything filed since our last weekly refresh.
Who showed up
6 submissions from industry — companies and their trade associations — against 1 from civil society: NGOs, consumer organizations, environmental groups and trade unions. That is 6 industry submissions for every one from civil society.
Industry 6Civil society 1Public authorities, academia, other 3
Groupings use the respondent type each organization selected when filing. Counting submissions, not organizations — a body that filed twice is counted twice.
The file, right now
The consultation closed on 20 May 2021 — it ran from 25 Feb 2021.
- Policy area
- Financial services (DG FISMA)
- Where it stands
- Awaiting adoption
- Adoption expected
- 31 Dec 2021
How it got here
- Impact assess incep8 Dec 2020
- Public consultation20 May 2021
Also on the Commission’s pipeline for this file, with no date recorded: Prop dir.
Showing 10 of 10 submissions.
EA
European Association of Co-operative Banks (EACB)
· · filed 8 Dec 2020 · source
General comments Depositor confidence is a public good built up hard for decades by relevant national schemes, including private schemes. Harmonization should be sought but not pose downside effects. In view of the upcoming consultation and next steps, the value of existing crisis management tools must be assessed and reflected.
Dear ladies and gentlemen, I would like to thank you for the opportunity to comment on the BRRD review. In my opinion, the weakness of the bank crisis management framework so far prevented the Banking Union from delivering on its promise to avoid bank bailouts and break the vicious circle (‘doom loop’) between banks and sovereigns.
Clearstream Holding Group (CHG) welcomes the review of the bank crisis management and deposit insurance framework initiated by the European Commission as of 10 November 2020 and appreciates the opportunity to provide feedback on the revision roadmap.
EB
European Banking Federation
· · filed 8 Dec 2020 · source
The EBF supports the completion of the Banking Union. To this end, the BRRD/SRMR/DGSD framework should be amended to address the issues identified in this Roadmap. In addition to a shared, strong and well-balanced system to protect depositors, we also urge the Commission to add building blocks which the last years have shown are still missing.
Dear Sir or Madam, Please find attached the opinion of the German Banking Industry Committee on the Commission’s combined evaluation roadmap/Inception Impact Assessment “Review of the bank crisis management and deposit insurance framework (BRRD/SRMR/DGSD review)”. Yours sincerely, on behalf of the German Banking Industry Committee National Association of German Cooperative Banks Dr. [name removed] Dr. [name removed]
General remarks to be added The number of Options and National Discretions (ONDs) included in the BRRD (including the BRRD2) implies significant uneven playing field for institutions in certain jurisdictions which also constitute barriers to the function of the internal EU single market.
General remarks to be added The number of Options and National Discretions (ONDs) included in the BRRD (including the BRRD2) implies significant uneven playing field for institutions in certain jurisdictions which also constitute barriers to the function of the internal EU single market.
Dear Sir/Madam, on behalf of and on behalf of Hypo Vorarlberg Bank AG, we kindly ask the European Commission to take the attached opinion into account when implementing the initiative. (complimentary close) [name removed] GmbH
Filed in German · English published by the European Commission
Dear Sirs/Madam, Attached please find the feedback of the European Forum of Deposit Insurers. For any further information please do not hesitate to contact us. Very best regards, [name removed] Manager European Forum of Deposit Insurers (EFDI) M: [phone removed] F: [phone removed] T: [phone removed] E: [email removed] c/o House of Business (Room No. 113) Szechenyi Istvan ter 7-8.
Take the dataCSV — all 10 submissionsJSONFull text, not the excerpt. Free to cite.Search every submission →
Method. Every quote is verbatim from the organization’s own submission to the European Commission, trimmed to its opening passage and never summarized by a model. Where a submission was filed in another EU language we show the English text the European Commission publishes alongside it, labeled on the quote; the original is one click away at the source. Groupings use the respondent type the organization itself selected when filing. We deliberately do not label anyone “supportive” or “opposed” — you read what they wrote and draw your own conclusion. Organizations only, never individuals. Reused under Commission Decision 2011/833/EU; the European Commission is not liable for this reuse.