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The European Commission has adopted a proposal to review the Crisis Management and Deposit Insurance Framework (CMDI). While the resolution rules work well in theory, past practice has shown that they are not well suited to medium-sized and small banks whose crises have been managed outside a harmonized European framework. The CMDI proposal addresses this issue by broadening the scope of resolution. Sufficient access to funding is needed to make it effective.
Deposit guarantee schemes can play a key role in facilitating access to resolution funds. In addition, the CMDI proposal also learns from past experience and addresses certain shortcomings that have an impact on the tasks assigned to supervisors.
The ECB has recently published its opinion on the CMDI, which provides relevant input to the legislator from a supervisory perspective.
