The European Commission is reviewing the crisis management and deposit insurance framework (CMDI) in order to strengthen the second pillar of the banking union. The review 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). Based on the outcome of the review, the Commission may bring forward amending proposals in the fourth quarter of 2021 for consideration by the EU co-legislators.
This high-level conference was an opportunity for interested parties to discuss the issues that emerged in the implementation of the existing framework and to debate possible policy solutions. Furthermore, the current health crisis has highlighted the need for a strengthened banking union and the safety nets it offers – such as a European deposit insurance scheme (EDIS). Two keynote speakers addressed the urgent need to complete the banking union, including its third – still missing – pillar EDIS. Policymakers, regulators and stakeholders discussed their views in three panels
- the resolution and insolvency toolbox
- resolution and insolvency funding
- the way forward on deposit insurance