The European Commission has proposed an adjustment and strengthening of the EU’s existing bank crisis management and deposit insurance framework, with a focus on medium-sized and smaller banks. The proposal aims to enable the orderly market exit for a failing bank of any size and business model with a broad range of tools, while preserving financial stability and protecting taxpayers and depositors. The proposed rules also extend depositor protection to public entities and certain types of client funds and harmonise further the standards of depositor protection across the EU. The legislative package will now be discussed by the European Parliament and Council.
https://ec.europa.eu/commission/presscorner/detail/en/IP_23_2250