Key Benefits:
CHAIR OF THE COUNCIL OF MINISTERS
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Proposal for Resolution No 114 /XII
The Agreement on the transfer and mutualization of the contributions to the Single Fund of
Resolution, was signed in Brussels on May 21, 2014.
The Agreement in question conforms to an intergovernmental Agreement, whereby the
States stay, inter alia , obliged to transfer to the said Fund the contributions
charged at the national level in accordance with criteria, modalities and uniform conditions,
notably the affectation, during a transitional period, of the contributions they charge
at the national level to different compartments corresponding to each of the Parties
Contractors, as well as the progressive mutualization of the use of the compartments of
form to which these extincts at the end of that interim period.
The Agreement has only as object the specific elements relating to the Single Fund of
Resolution that remain as the competence of the Member States, does not affect
the common rules established by Union law nor does it change the scope of it,
aiming to supplement the Union's legislation on banking resolution and find-
if intrinsically linked to the achievement of the Union's policies, especially the realization
of the domestic market in the field of financial services.
The Agreement complements the Regulation (EU) No 806/2014, the European Parliament and the
Council, of July 15, 2014 (MUR Regulation), which sets out rules and a
uniform procedure for the resolution of credit institutions and certain companies of
investment in the framework of a Single Resolution Mechanism and a Single Fund of
Bank resolution and amending Regulation (EU) No 1093/2010 of Parliament
European and the Council of November 24, 2010.
CHAIR OF THE COUNCIL OF MINISTERS
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The European Union, through the Directive No 2014 /59/UE, of the European Parliament and of the
Council, of May 15, 2014, amending Directive No 82 /891/CEE and the Directives
n. ºs 2001 /24/CE, 2002 /47/CE, 2004 /25/CE, 2005 /56/CE, 2007 /36/CE, 2011 /35/UE,
2012 /30/UE and 2013 /36/UE, as well as the Regulations (EU) No 1093/2010, of the
European Parliament and of the Council, of November 24, 2010 and 648/2012, of the
European Parliament and of the Council of July 4, 2012, which establish a
framework for the recovery and resolution of credit institutions and companies of
investment (RRB Directive), harmonised the legislative and regulatory provisions
relating to the resolution of credit institutions and investment firms, including the
establishment of national mechanisms for financing the resolution.
The RRB Directive has been transposed into the internal legal order by the Decrees-Laws
n. 114-A/2014, of August 1, and 114-B/2014, of August 4, and by the Law No. 23-A/2015,
of March 26.
The Single Resolution Engine thus created complements, by its shift, the
Single Bank Supervision Mechanism created under the aegis of the European Central Bank.
The Single Resolution Engine and the Single Supervision Engine, associated with
reform of European banking legislation, constitute essential elements in which it is based
realization of the Banking Union decided by the Heads of State or Government in the framework
of the deepening of the Economic and Monetary Union.
All member states of the euro area are participants in both mechanisms.
They participated in the negotiation of the present Agreement all the countries of the European Union and was
signed by the 18 countries of the euro area and still the following countries: Lithuania, Bulgaria,
Croatia, Denmark, Czech Republic, Hungary, Poland and Romania.
CHAIR OF THE COUNCIL OF MINISTERS
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With the scheme fixed by the Agreement, progressive mutualization is established, targeting a
more robust Banking Union, as well as the consecration of temporary transfers between
compartments, loans and other forms of support to strengthen capacity
Financial from the Single Resolution Fund and the consequent credibility of the Mechanism.
It also consists of a means of public, European and last resort funding that
ensures greater capacity for acting and independence of the national authorities of the
Single Resolution Mechanism, strengthening the credibility of the European system of
resolution and confidence in a principle of equal treatment of banks and
contributing to breaking the relationship between bank risk and sovereign risk.
Thus:
Under the terms of the paragraph d) of Article 197 (1) of the Constitution, the Government presents to the
Assembly of the Republic the following motion for a resolution:
Approve the Agreement on the transfer and mutualisation of contributions to the Fund
Single Resolution, signed in Brussels, on May 21, 2014, the text of which in the version
authenticated in the Portuguese language, it publishes in attachment.
Seen and approved in Council of Ministers of May 14, 2015
The Prime Minister
The Minister of State and Foreign Affairs
The Minister of the Presidency and Parliamentary Affairs