Member States sign SRF agreement: Representatives of 26 Member States (all Member States except the UK and Sweden) have signed the intergovernmental agreement setting out the details of the Single Resolution Fund (SRF) that forms part of the Single Resolution Mechanism (SRM) Regulation. The aim is to ratify the agreement by the time the SRM enters into force in January 2016. The SRF will amount to 1% of covered deposits of all authorised credit institutions. Contributions from credit institutions will initially be raised at national level and then transferred to the SRF over a period eight years. There is also a mechanism to allow bridge financing during the early stages. (Source: Member States Sign Agreement on Bank Resolution Fund)