Trilogue agreement on the framework for bank recovery and resolution
By Charles Krier and Michel Bulach
On 11 December, the European Parliament and EU member states agreed on the long-awaited Bank Recovery and Resolution Directive (RRD).
The RRD is considered as one of the major steps in developing Banking Union and the Single Resolution Mechanism. It is dedicated to prevent new costs for tax payers and to restore confidence in the European financial sector by ensuring that failing banks can be reorganised in a predictable and efficient way with minimum recourse to public money…
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On 16 July 2014, Luxembourg adopted the law concerning the compulsory deposit and immobilisation of shares and units in bearer form.
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