A second essential requirement from the ECB’s viewpoint was the need for a swift and efficient decision-making process, allowing for the resolution of a bank over a weekend. We welcome the fact that the text now caters for a swifter procedure, ensuring timely resolution decisions.
Finally, we note with satisfaction that the ECB as supervisor will have the primary role in deciding whether a bank is failing or likely to fail. In the field of financial regulatory reform more broadly, the EU has also taken key steps in 2013, with the European Parliament playing an important role.