EU: Publication of two key pieces of the Single Rulebook for banks

12 June 2014

The Directive on the Recovery and Resolution of Credit Institutions and Investment Firms (BRRD) and the recast Directive on Deposit Guarantee Schemes (DGS) have been published in the EU Official Journal, June 12th 2014.

The BRRD provides a complete framework for the crisis management of banks, while the DGS Directive strengthens the protection of citizens' deposits in case of bank failures.

Member States must now transpose both texts into their national legislation within the defined timeline. The Directives contribute to making the Single Rulebook for the banks of the 28 Member States a reality and pave the way to its centralised implementation within the Banking Union.

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