We cordially invite you to this conference to discuss important upcoming developments for the European banking industry.
As response to the financial crisis the European Union has decided to establish a Banking Union consisting in particular of a Single Supervisory Mechanism (SSM) and a Single Resolution Mechanism (SRM) including a Single Resolution Fund (SRF). The SSM centralises the supervision of significant credit institutions at the European Central Bank (ECB) and shall become operative in November 2014. The SRM/SRF centralises the decision on resolution and will in the medium term establish a common source of funding for resolutions. It aims at breaking the vicious circle between the stability of the banking system and sovereign debt.
The establishment of both mechanisms is of utmost importance for the European banking industry and for Europe as a whole. It is a major integration step – however, into an uncertain environment.