The Spanish government has approved the creation of a resolution fund of up to €6 billion ($7.5 billion), financed by the country's banking sector, as part of its preparations for the Single Resolution Mechanism (SRM).
According to the draft bill on the restructuring and resolution of credit institutions and investment companies, the fund will be administered by the Fund for Orderly Bank Restructuring (Frob).
European governments are working to implement the Bank Recovery and Resolution Directiv
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