The Council has issued a statement supporting the asset quality review and stress testing of EU banks that will precede the establishment of the Banking Union in November 2014. Where an institution requires recapitalisation with public funds, the Council confirms that the backstop will be provided on a national basis. Until the bail-in tool under BRRD becomes available, Member States will have to apply the burden-sharing requirements in State Aid rules. The Council also announced that a final compromise proposal on the SRM Regulation will be voted on at the meeting of Finance Ministers (ECOFIN) on 10 December. (Source: Council Issues Statement on EU Banks' Stress Tests)