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Banking Union: Parliament approves Single Resolution Board members

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20141208PHT83052_originalParliament gave its green light on Tuesday (16 December) for the appointment of members of the Single Resolution Board (SRB), an independent body which is to manage the resolution of failing banks. The candidates had already been approved by the Economic and Monetary Affairs Committee on Monday evening.
Parliament as a whole approved the nominees with 522 votes in favour, 105 against and 67 abstentions.The candidates were nominated by the European Commission on 5 December, following several in-camera hearings with shortlisted candidates.

Public hearings with the Commission’s nominated candidates took place in Parliament on 8 and 9 December.
The nominees are:

  • Elke König (pictured) (DE) for the chair position
  • Timo Löyttyniemi (FI) for the vice chair position
  • Mauro Grande (IT)
  • Antonio Carrascosa (ES)
  • Joanne Kellermann (NL)
  • Dominique Laboureix (FR)

Next steps

Now it is up to the Council (acting by qualified majority) to decide on the appointments.

The chair, vice chair and board members are appointed for a limited term; the chair for an initial three years, renewable once for a further five years; and the vice chair and board members for five years, non-renewable. The board is expected to take up its tasks per 1 January.

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