Legislation implementing the EU Bank Recovery and Resolution Directive ("BRRD") in Netherlands law and facilitating the application of the EU Single Resolution Mechanism Regulation ("SRM Regulation") was approved by the Upper Chamber of the Netherlands parliament on 10 November 2015 and is expected to enter into force before the end of this year. The new law – the "European Framework for the Recovery and Resolution of Credit Institutions and Investment Firms Implementation Act" – will be referred to below as the "Implementation Act".

The Internal Market Directorate is discussing with stakeholders whether the debt write-down or bail-in tool would help a managed reorganisation or winding down of a financial institution that faced imminent failure. This discussion takes place in the context of the ongoing work on an EU framework for managing crises in the banking sector. The debt write-down or bail-in tool would complement the special resolution powers that need to be available for authorities to stem risks to financial stability and limit the recourse to taxpayer’s money.

Last Friday, financial services group Dexia SA announced that it had reached an agreement with the European Commission relating to its restructuring plan. Dexia had previously received approximately €6.4 billion in bailout money from Belgium, France and Luxembourg. Pursuant to the negotiated restructuring plan, Dexia will:

 FSA has set out its standards for “key attributes” of effective resolution regimes. The standards require each jurisdiction to:

As part of the IMF/EU bailout, Ireland will need to put draft legislation before the Dail to facilitate the creation of a legal framework for dealing with financial institutions on the verge of collapse. This legal framework is known as a Special Resolution Regime (SRR).

On Thursday, Ireland's Finance Minister Brian Lenihan released a "Minister's Statement on Banking" announcing new commitments to troubled Irish banks. The statement began: "It is an urgent and immediate priority to reinforce international market confidence in our ability and commitment to restore our banking system to health and to secure the long-term sustainability of our fiscal position." Toward that end, Mr. Lenihan announced increased commitments to banks and building societies.

Con la finalidad de agilizar la tramitación de los procedimientos de ejecución, reforzar las expectativas de cobro del deudor, dotar de mayor seguridad jurídica al mercado, y en última instancia, para tratar de dar respuesta a algunos de los problemas económicos –y socialesde los últimos tiempos, el Proyecto de Ley Orgánica de Reforma del Código Penal (en adelante, “el Proyecto de Reforma”) propone una nueva regulación de los delitos de alzamiento de bienes e insolvencia punible.

A look at the recent restructuring of the Co-operative Bank and EU proposals for mandatory reform

The Co-operative Bank announced in mid-June that it would need to carry out a forced listing of £300m new shares on the London Stock Exchange to fill a capital hole of around £1.5bn. Co-op's difficulties are said to have been triggered by mounting losses at Britannia Building Society - which Co-Op acquired in 2009 - that were highlighted when the bank failed to follow through on its planned acquisition of 632 Lloyds branches in February this year.

On May 5th, the Senate voted 93-5 to adopt an amendment proposed by Senators Christopher Dodd and Richard Shelby that would give the FDIC authority to liquidate failing financial institutions without the creation of a controversial $50 billion "bailout" fund. Instead, the FDIC would use a new line of credit with the Treasury Department, supported by the assets of the failed institution, to pay the liquidation expenses.

On May 20, 2010 the Senate passed the Restoring American Financial Stability Act of 2010 (the "Senate Bill") 59-39, only hours after the cloture vote ended debate on the bill. The House passed its version—the Wall Street Reform and Consumer Protection Act of 2009 (the "House Bill")—in December 2009. The primary stated focus of the Senate and House Bills is to prevent the failure of the "too big to fail" institutions and to avoid government (taxpayer) bailouts in the future.