Single European resolution authority for failing banks ‘defensible’

The European Commission’s proposal for a single European resolution authority for failing banks is defensible, though potential conflicts of interest must be prevented, says Dutch finance minister Jeroen Dijsselbloem.

The European Union plan would bring together national regulators in a resolution board that would draw up plans for intervening at struggling banks.

The final decision to initiate the measures would rest with the European Commission, the EU’s regulatory arm.