Eurogroup agrees on early SRF backstop

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By Tyler Davies
01 Dec 2020

Euro area finance ministers said on Monday evening that they would introduce a backstop for the Single Resolution Fund up to two years earlier than planned, following "substantial" risk reduction in the banking system.

The Eurogroup initially planned to establish a common backstop for the SRF before the end of 2023. 

It agreed to accelerate this work on Monday, meaning the SRF will now be safeguarded from the start of 2022. 

Ministers had been keen to see more risk reduction ...

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