The European Commission recently issued a proposal for a Regulation – which should be fully operational in 2015 – to institute an SRM under a single  BIS central bankers’ speeches  3  resolution authority and with pooled resources.
Concerning the third component of the Banking Union, a draft directive has been prepared to implement a common network of national deposit guarantee schemes by the end of this year. The institution of the SRM must proceed expeditiously, with appropriate negotiations between national and Community authorities.