Austria: IHS Against Bank Levy

CommentOpinion ♦ Published: January 28, 2014; 21:04 ♦ (Vindobona)

Christian Keuschnigg, director of the Austrian economic research institute IHS stresses that the bank resolution funds would replace the bank levy.

Austria: IHS Against Bank Levy / Picture: © Institut für Höhere Studien - Institute for Advanced Studies

In the past two years, the EU began to create a new institutional framework for the banking sector in the Eurozone. Besides the bank supervision and the deposit protection mechanism, a bank resolution funds is in the development stage. However, the progress is still slow. In total, the resolution funds will have a size of € 55bn. The resolution mechanism should enter into force by…