Examples of using Resolution framework in English and their translations into Finnish
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Objectives of a bank resolution framework.
The EU has reaffirmed its desire to strengthen fiscal discipline andto find a permanent crisis resolution framework.
The objective of a credible recovery and resolution framework is to obviate the need for such action to the greatest extent possible.
General explanation: a recovery and resolution framework.
The bank resolution framework will reduce or remove the implicit state guarantee of the debt of even the largest and most important banks.
The need for an effective recovery and resolution framework.
When a resolution framework that limits contagion is in place, it reduces the number of bank failures, and therefore the likeliness of DGS pay-outs.
What should be the scope of an EU resolution framework?
Secondly, the bank resolution framework aims to reduce the possibility that taxpayers' money being used again in a potential future crisis to bail out banks.
What should be the key objectives andpriorities for an EU bank resolution framework?
In particular, work on a resolution framework for non-banks and to address concerns in shadow banking is ongoing at EU and international level.
The EESC recommends that all banks andall supervised financial institutions should be part of the resolution framework.
Therefore, the resolution framework establishes certain principles for the allocation of losses that would have to be respected irrespective of what each national insolvency regime establishes.
The Commission also proposes to reinforce the macro-economic prevention framework for euro area Member States by establishing a permanent crisis resolution framework.
The first objective of the bank recovery and resolution framework is to ensure that bank failures are avoided as far as possible and that authorities and banks are prepared for adverse developments.
Portugal has taken significant steps under the macroeconomic adjustment programme to improve the capital base of the banking sector and to strengthen its supervision and resolution framework.
The recovery and resolution framework takes into account the cross border nature of some banking groups, with an objective to create a comprehensive and integrated framework for bank recovery and resolution in the Union.
The EESC recommends that all banks and all supervised financial institutions(with the exception of insurance entities, for which a separate scheme is currently being prepared)should be part of the resolution framework.
The involvement of EBA in all phases of the bank recovery and resolution framework is proposed and supported by the stakeholders, even if EBA regulation presently does not give competence to EBA in a resolution process.
On 28 and 29 October, the European Council endorsed the final report from a task force established in March to devise proposals to providefor better budgetary discipline in member states and a budgetary crisis resolution framework at EU level.
The resolution framework should include procedural requirements to ensure that resolution actions are properly notified and, subject to the limited exceptions laid down in this Directive, made public.
An ex-ante agreement setting out the principles for fair burden sharing is a necessary"safety-net" that will ensure that the authorities involved have the necessary incentives to cooperate under the crisis prevention and resolution framework.
The new EU bank resolution framework has changed the risk profile of bonds issued by banks, of which significant amounts are held by Italian retail clients, underlining the importance of financial literacy among the general public.
It is appropriate to exclude from the scope of this Recommendation insurance undertakings, credit institutions, investment firms and collective investment undertakings, central counter parties, central securities depositories andother financial institutions which are subject to special recovery and resolution frameworks where national supervisory authorities have wide-ranging powers of intervention.
As a minimum, therefore, an EU bank resolution framework should be supported, by a binding framework for cooperation and exchange of information between courts and insolvency practitioners responsible for proceedings relating to affiliated entities in a banking group.
To ensure consistency in the regulatory framework, central counterparties, as defined in Regulation(EU) No 648/2012 of the European Parliament and of the Council(7) and central securities depositories as defined in Regulation of the European Parliament and of the Council on improving securities settlement in the European Union and on central securities depositories(CSDs) andamending Directive 98/26/EC could be covered by a separate legislative initiative establishing a recovery and resolution framework for those entities.
The Commission considers that this resolution framework, coupled with the preventative powers aimed at simplifying legal and business structures in cases where a firm would otherwise be un-resolvable, will ensure that resolution authorities can manage the failure of all institutions covered by the framework, irrespective of their size and interconnectedness, without jeopardising financial stability.