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The single-resolution fund (FUR) of the euro-zone bank already has a budget of 24,900 million euros, after the banks contributed 7,500 million euros to the mechanism this year, according to the data published today by the Single Resolution Board.
The Spanish entities contributing to the fund contributed 735.64 million euros, the fourth largest bill
The resolution fund began to be funded in 2015 with private sector contributions and its purpose is to provide financial support. it is necessary and within certain limits to execute bank resolutions that require European intervention.
The objective is that by 2023 it has an amount equivalent to 1% of the volume of guaranteed deposits in the area of the single currency, that its startup was estimated at 55 000 million. euros, but this could be higher given the increase in these deposits, which grew by 3% between 2016 and 2017.
"If we find that this trend will continue in the years ahead, the fund will be between 63,000 and 67,000 million euros, "point out the sources of the Single Resolution Board, body charged with ordering bank resolutions demanding community action
The increase in appropriations between 2016 and 2017 explains that the JUR has set itself a goal of € 8.1 trillion in contributions for 2018, which resulted in a final recovery of Fr. 7.5 billion. after application of certain deductions.
This amount is higher than in 2017, when entities paid 6,600 million euros, as well as in 2016 (6,400 million) and in 2015 (4,300 million).
On the 2018 bill, 96% it was paid by entities considered "significant" (with a total asset volume greater than 3,000 million euros), which represented only 21% of the total of the 3,315 entities that contributed to it
By country, the one that paid the most for 2018 is France (2,290 million), followed by Germany (1,986 million), France. Italy (827.2 billion). million) and Spain
The fact that the RUF may end up being larger than initially expected will affect ongoing negotiations to launch its common firewall, as it should have a similar endowment to the fund's total. 19659002] This safety net consists of a funding pool that must be provided initially by States to ensure sufficient resources in the event of bankruptcy or several whose total cost exceeds the available volume in the fund.
Eurozone leaders agreed that this firewall would be provided by the European Stability Mechanism and instructed their ministers to design the details.
JUR sources said they are negotiating with member states both on the envelope and the form it will take "to reach an agreement in December".
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