Extended resolution swap stays divide European lawmakers

SRB defends EC moratorium proposal, but Parliament and Council are turning against it

Resolution stays extended dates
Day shift: the SRB has thrown its weight behind moves to extend close-out stays

European Commission proposals to extend close-out stays on derivatives contracts to five days or more – under the draft revised version of the Bank Recovery and Resolution Directive (BRRD II) – face a rough ride through the EU Council and Parliament, despite support from the Single Resolution Board.

Speaking to Risk.net on the sidelines of the SRB’s annual conference in Brussels on September 29, Roberto Gualtieri, who chairs the Parliament’s economic and monetary affairs committee, said: “I am

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