The ECB has issued an opinion on crisis planning and early intervention for credit institutions (CIs). This Opinion has been issued in response to a request from the Austrian Ministry of Finance for an opinion on a draft Banking Intervention and Restructuring Act, amendments to the Federal Banking Act and the Financial Market Authority Act, the purpose of which is to establish a preventive crisis planning and early intervention regime for credit institutions.
In the Opinion, the ECB welcomes the draft law as it strengthens the tools and procedures available to the national authorities for effective preventive measures and early intervention in CIs. The ECB also welcomes the recognition by the Austrian Ministry that there should be a harmonised approach to providing effective preventive measures, early intervention in and resolution of banks at European Union level.
The Opinion is available on the ECB website.