About this consultation
- Consultation period
26 January 2021 - 20 April 2021 (midnight Brussels time)
Financial services, banking union
Views are welcome from all stakeholders. For the more technical part of the consultation, views are welcome in particular from persons and entities representing
- credit institutions
- other financial market participants (e.g. investment firms, payment and electronic money institutions, financial infrastructure providers, etc.)
- non-financial companies (including SMEs)
- citizens and households (in their quality of consumers/users of financial services, depositors and investors in securities issued by financial entities)
- national and supranational authorities (e.g. national governments and EU public authorities, mandated authorities and bodies in charge of implementing the crisis management and deposit insurance framework, and international organisations)
- academics and policy think-tanks
Objective of the consultation
In the aftermath of the global financial crisis, the EU laid down the rules for handling bank failures and enhancing depositor protection. This targeted consultation is part of the overall consultation strategy for the review of the bank crisis management and deposit insurance framework and focuses on three EU legislative texts: the Bank Recovery and Resolution Directive (BRRD), the Single Resolution Mechanism Regulation (SRMR), and the Deposit Guarantee Schemes Directive (DGSD). The consultation seeks to gather stakeholders’ experience with the current crisis management and deposit insurance framework as well as their views on the revision of the framework, which is part of the debate on the completion of the banking union and in particular its third and missing pillar EDIS.
In parallel to this more technical targeted consultation, a general public consultation, available in all official EU languages, will be launched in mid-February. The public consultation comprises a selected list of questions on the bank crisis management and deposit insurance framework. These same questions also feature in the targeted consultation, seeking more specialised and technical views. Therefore, we advise stakeholders to reply to only one of the two versions (either the targeted consultation or the general public consultation) to avoid unnecessary duplications. Please note that replies to either questionnaire will be equally considered.
How to submit your response
Please note that in order to ensure a fair and transparent consultation process responses should be submitted through the online questionnaire.