EU adopts new rules on Banking Union

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The Council adopted new rules to strengthen the banking union and reduce risks in the financial system following the 2007-2008 financial crisis.

The rules include amendments to the capital requirement legislation (regulation 575/2013 and directive 2013/36/EU) which reinforce the capital and liquidity positions of banks, and strengthens the framework for the recovery and resolution of banks in difficulty (directive 2014/59/EU and regulation 806/2014).

Eugen Teodorovici, Minister of Finance of Romania (which currently holds the Council presidency) stressed that thanks to the introduction of key measures such as the binding leverage ratio for all banks and the introduction of a “total loss-absorbing capacity” for the biggest institutions, banks will be better capitalised and better equipped to withstand market turbulences.

Following the signature of the adopted legislation, the banking measures were published in the Official Journal and will enter into force in June.  

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