EBA and US agencies agree framework for cross-border resolution
Document lays out principles for information sharing and future crisis management agreements
The European Banking Authority has signed a “framework co-operation agreement”, setting out principles governing how European supervisors should work with several US authorities on cross-border bank resolutions, it announced today (September 29).
The agreement covers all the European Union agencies with responsibility for resolving failed banks, including the European Central Bank’s (ECB) supervisory arm and the Single Resolution Board (SRB), as well as national financial supervisors.
The US
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