Banking Union – ECOFIN endorsement of Public Bridge Financing Arrangement fundamental for credible start of the Single Resolution Mechanism in 2016

The Single Resolution Board (SRB) welcomes the endorsement of the public bridge financing arrangement for the Single Resolution Fund (SRF) at today’s meeting of the Economic and Financial Affairs Council (ECOFIN). The bridge financing arrangement will cover – as a last resort – temporary financing shortfalls in the SRF, in particular, during the early years of the transitional period.