SRM: What To Expect From A European Banking Union

A successful Single Resolution Mechanism (SRM) can be key in building confidence in the euro, in the banks of the Eurozone and hence aiding growth in Eurozone economies, notes PwC in its report. The SRM board is mandated to be fully operational from January 1st, 2015, points out PwC in its May 2014 report titled “Regulatory Briefing: SRM-What to expect from Banking Union”. European Parliamentary adoption The PwC report highlights that the European Parliament adopted all outstanding Banking Union legislation on April 15, 2014, including the Bank Recovery and Resolution Directive (BRRD), the Deposit Guarantee Scheme Directive (DGSD) and significantly,…