New EU agreement on crisis management regulations
News 29 August 2019
The EU Ministers of Finance confirmed an agreement yesterday on a revised regulatory framework for crisis management in the banking sector – the EU Crisis Management Directive.
“It is a positive development that negotiations on the revised crisis management directive have now been completed at the EU level. We will analyse its contents, and we look forward to its transposition into Swedish law,” says Debt Office Director General Hans Lindblad.
The first version of the crisis management directive was adopted in the EU in 2014. In 2016, the law entered into legal force in Sweden and the Debt Office assumed responsibility for the new framework called resolution. The EU Crisis Management Directive is transposed into Swedish law via the resolution legislation. The Debt Office is Sweden’s resolution authority and is responsible for both the preparatory work for, and management of, banks and other institutions in crisis.