ECB's Cœuré welcomes commission proposal on Single Resolution Mechanism
European Central Bank (ECB) executive board member Benoît Cœuré today said he welcomed the European Commission's proposal for a Single Resolution Mechanism (SRM), which would hand the commission itself the ultimate power over whether, when and how troubled banks are resolved.
Speaking at the Growth and Investment Opportunities in Europe forum in Paris, Cœuré said that while the legal framework contained in the Bank Recovery and Resolution Directive "creates a stronger set of tools for winding
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