ECB is consulting on harmonising how Member States exercise options and discretions available under EU law not to apply certain provisions or to choose from alternative treatment options. The paper aims to establish a policy to apply to significant credit institutions within the SSM on the exercise of the options and discretions available under Union law, namely CRD 4 and the CRR. Consultation closes on 16 December after a public hearing on 11 December. (Source: ECB Consults on Harmonising Union Law Options and Discretions)