Examples of using Single resolution in English and their translations into German
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Political
A single resolution fund financed by the banking industry should be progressively created.
The Eurogroup proposes that the ESM becomes the main funder of the Single Resolution Mechanism SRM.
Third, the Single Resolution Board must be enabled to operate as effectively as possible.
ECB seeks representation in all plenary andexecutive meetings of the Single Resolution Board as an observer.
This consists of the Single Resolution Board(SRB) and the NABs of the participating Member States.
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Today the Council formally appointed the Chair,the Vice-Chair and the four other permanent members of the Single Resolution Board.
The Single Resolution Board and the Single Resolution Fund will be fully operational from 2016.
A fully effective SSM requires a Single Resolution Mechanism(SRM) for banks covered by the SSM.
The Single Resolution Board would collect the contributions directly from institutions and manage and administer the DIF.
Efficient programme offset a portion of the contributions paid as of 2015 to the Single Resolution Fund and the Luxembourg Deposit Guarantee Fund.
With regard to the Single Resolution Board, the key factors are, in particular, independence, expertise and democratic scrutiny.
It wants to secure an effective cross-border resolution of financial institutions in the EU andaims at establishing a joint Single Resolution Fund SRF.
It should have an EU Single Supervisory Mechanism and a Single Resolution Mechanism that should be equipped with a common backstop.
A Single Resolution Board, consisting of representatives from the ECB, the European Commission and the relevant national authorities, would prepare the resolution of a bank.
The first is the introduction, following the Single Supervisory Mechanism(SSM), of a Single Resolution Mechanism(SRM) to solve the problems of banks in difficulty.
María Nieto(Banco de España) stressed that depositors would have a claim under a European Deposit Insurance System(EDIS)while creditors do not have a claim under the Single Resolution Fund SRF.
In the banking union, that authority is the Single Resolution Board; in the other EU countries, independent national resolution authorities are being set up.
The proposed Regulation has no consequences for the protection of fundamental rights further than those of the Regulation and Directive that it modifies and whichare respectively catered for in the explanatory memoranda of Regulation(EU) No 806/2014, establishing a Single Resolution.
With regard to the Single Resolution Board, it is vitally important for its members to have the greatest possible independence and expertise and for democratic scrutiny of its decisions to be built in.
Although Italy secured the European Commission's approval,it is hard to avoid concluding the Single Resolution Board(SRB)- the EU agency responsible for dealing with bank crises- flunked arguably its first big test.
In the meantime, some important steps forward have been taken with regard to a Banking Union, in particular,with the introduction of the Single Supervisory Mechanism and the agreement on the Single Resolution Mechanism and the Single Resolution Fund.
Together with John Cryan(Deutsche Bank), Valdis Dombrovskis(European Commission)and Elke König(Single Resolution Board) Jan Krahnen discussed opportunities and challenges"On the way to the European single market for financial services- ambition and reality.
There will also need to be public backstops in place once the banking union is in place in case the combination of higher prudential requirements,the tool kit for crisis management including bail-in and a Single Resolution Fund are not enough.
This is the most important decision to be made, providedit is done swiftly, using the single resolution and deposit protection mechanisms and the Capital Markets Union to fully and rapidly implement European systems of common rules.
The Commission will submit in the course of 2013 a proposal for a single resolution mechanism for Member States participating in the SSM, to be examined by the co-legislators as a matter of priority with the intention of adopting it during the current parliamentary cycle.
It is essential, therefore, that the Member States not only take the necessary steps toput these national credit lines in place before 1 January 2016 when the Single Resolution Board becomes fully operational, but that they begin discussion of a more robust mutualised credit line via the European Stability Mechanism ESM.
The establishment of and competences assigned to the Single Resolution Board(SRB) by the SRM Regulation raise concerns with regard to the principle of conferral, but they do not amount to a manifest exceeding of competences if the Board acts strictly within the limits of the tasks and powers assigned to it.
Those uniform rules andthat uniform procedure shall be applied by the Single Resolution Board established in accordance with Article 42(the‘Board'), together with the Council and the Commission and the national resolution authorities within the framework of the Single Resolution Mechanism(‘SRM') established by this Regulation.