EBA: banks must fill resolution fund but support can fluctuate
The European Commission could allow some variation in banks’ contributions to the Single Resolution Fund to avoid pro-cyclicality, but reaching the fund’s target level is "the first priority", the EBA says
The European Banking Authority (EBA) has recommended a balanced approach to levying the funds needed to establish Europe's Single Resolution Fund, with some consideration to pro-cyclicality but the main focus being to reach the target level in time.
Contributions by European banks to the fund are due to begin in 2016 and will continue for eight years, until the end of 2023. The Single Resolution Board (SRB) is yet to determine the target level of the fund, but the EBA expects this to be at least
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