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Press releases

May 24, 2023

Retail Investment Strategy: Draft legislation does not meet EU Commission’s objectives

The European Commission today presented its draft legislation for a retail investment strategy. As a key element of capital markets union, its aim is to strengthen trust in the capital markets and thereby promote investment by retail investors.

April 18, 2023

CMDI review: European Commission putting the continued operation of German bank protection schemes at risk

Today, the European Commission published its proposal for reforms to amend legislation on resolution procedures for banks and deposit protection schemes (CMDI review). The proposed amendments cast significant doubt on whether it would still be possible in the future to use the funds of the cooperative institutional protection scheme for preventive measures. From the perspective of the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks], the European Commission is thus putting the integrity of bank protection schemes in Germany at risk. Moreover, the BVR rejects the envisaged broader paradigm shift toward granting bank resolution instruments seniority over deposit protection schemes.

April 18, 2023

GBIC: Improving crisis management at banks is a good idea, but the approach proposed by the European Commission is flawed

Today, the European Commission published its proposal for reforms to amend legislation governing the handling of banks in financial distress. The reform package seeks to implement far-reaching changes to the Bank Recovery and Resolution Directive, the Single Resolution Mechanism Regulation, and the Deposit Guarantee Schemes Directive. German Banking Industry Committee (GBIC) generally supports the European Commission’s objective of optimizing the existing legal framework. However, Germany’s banks and savings banks reject the European Commission’s plans to establish the bank resolution mechanism as a new standard for small and medium-sized institutions.


BVR - May 6, 2014, 12:00:00 PM

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