Such an approach, particularly the emphasis on subordinated instruments, would have been more in keeping with that adopted by the Financial Stability Board in setting the TLAC requirements. 4  BIS central bankers’ speeches  A clause in the BRRD provides for its review, to be started no later than June 2018.
National unemployment rates range from 2.8% in Luxembourg and 3.2% in the Netherlands to 15.7% in Spain. Some countries, particularly those with more flexible labour markets, more moderate wage increases and better tax and social security policies, have managed to avoid the trend of ever-rising unemployment. For example, the Netherlands, Ireland and Portugal all currently show unemployment rates well below the euro area average.