This aligns with the entry into force in 2015 of the new legal framework for resolution in Europe, the Bank Recovery and Resolution Directive (BRRD), which will provide a harmonised framework of resolution powers and tools.
While it is still too early to provide an in-depth assessment of the Commission proposal and a more detailed assessment will be published in our ECB legal opinion, I would like to welcome, from a personal point of view, some important points contained in the Commission’s proposal.