Tuesday, 17 December 2019

Questions (152)

Micheál Martin

Question:

152. Deputy Micheál Martin asked the Minister for Finance if he will report on the outcome of the discussions at the December 2019 ECOFIN meeting on strengthening the banking union. [52991/19]

View answer

Written answers (Question to Finance)

At ECOFIN in December 2019 the Council took stock of progress in strengthening the Banking Union under the Finnish Presidency. This is a regular agenda item at the end of each Presidency. The report is available at "https://data.consilium.europa.eu/doc/document/ST-14354-2019-INIT/en/pdf".

The report outlined the work which has been undertaken in relation to the proposal for a common European Deposit Insurance Scheme (EDIS), the action plan to tackle Non-Performing Loans in Europe and the implementation of the "Banking Package" (a series of reforms to the Capital Requirements Regulation, the Capital Requirements Directive, the Bank Recovery and Resolution Directive and the Single Resolution Mechanism Regulation).

It is anticipated that the work on this topic will continue at Eurogroup and under the Croatian Presidency in the first half of 2020.