IX Open Internacional d'escacs
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d will be conducted when the SSM comprehensive assessment takes place," he said. Meanwhile, Mr Draghi Adidas Flux Diamond
dubbed "banking union". Under the proposal, the costs of closing down a bank in the first year of operation would be fully covered by a fund set up by the home country where the bank resides. Such funds would be set up in every euro zone country and each would be filled from fees paid in by banks in the respective countries, amounting each year to 0. 1% of all covered deposits they hold.
bank will initially be borne almost fully by its home country, but the obligations of euro zone partners will gradually rise to be shared equitably after ten years. After the euro zone financial storm, countries are considering a fresh blueprint outlining what to do when a bank fails, a critical second pillar of a wider reform Adidas Zx Flux Black Multicolor
has said the latest plans to wind up failing euro zone banks may be overly complicated and inadequately funded. Under the terms of an EU proposal seen by Reuters over the weekend, the cost of closing down a bank in the currency union will initially be borne almost fully by its home country. But the obligations of euro zone partners will gradually rise to be shared equitably after ten years. "I am concerned that decision making may become overly complex and financing arrangements may not be adequate," Mr Draghi said. Adidas Flux All Red We should not create a Single Resolution Mechanism that is single in name only," he added.
According to the terms of the EU proposal, the cost of closing down a euro zone Adidas Flux Adv Grey
Such funds would reach their full size of 1% of all covered deposits after ten years, but in the first year each would have only 0. 1% of all covered deposits in a euro zone country, then 0. 2% in the second, and so on. If the accumulated money from bank fees in a home country in the first year is insufficient to finance the closure of a bank, other funds in euro zone countries would be expected to contribute up to 10% of their accumulated money to help. In the second year, the home fund would only be obliged to use up .
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