Quotes from the news wire:
Member states participating in the banking union agree to put in place a system of bridge financing arrangements in order to ensure sufficient funding to the SRF during the transitional period, as of 2016, each participating member state will enter into a harmonized loan facility agreement with the Single Resolution Board (SRB), providing a national individual credit line to the SRB to back its national compartment in the SRF in case of possible funding shortfalls following resolution cases of banks of the Member State concerned.
– European Union finance ministers
Found on Reuters 9 years ago
As of 2016, each participating member state will enter into a harmonized loan facility agreement with the Single Resolution Board (SRB), providing a national individual credit line to the SRB to back its national compartment in the SRF in case of possible funding shortfalls following resolution cases of banks of the Member State concerned.
– European Union finance ministers
Found on Reuters 9 years ago
The aggregate amount and the repartition key will be reviewed by the end of 2017 or earlier, if a non-euro area member state joins the banking union.
– European Union finance ministers
Found on Reuters 9 years ago
Such system of national credit lines will ensure the protection of taxpayers and will be fiscally neutral over the medium term, as the banking sector of the member state concerned will be liable for repayment of the amounts drawn under the credit line.
– European Union finance ministers
Found on Reuters 9 years ago
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