Il Single resolution fund it should be financed by the banks themselves with a levy of 1% on guaranteed deposits of all institutions in the states that are part of the banking union. If we take the 2011 financial statements as a reference, it would be about 55 billion, which according to the European Commission's proposal should be collected in ten years (5,5 billion a year), only to then have to add more if the level of the Fund were to drop.
In general, then, the single bank resolution mechanism, which includes a European Bankruptcy Authority in addition to the Single Fund, will have to be operational since January 2015. The new rules, therefore, will have to be adopted by the deadline of the European legislature in the spring of next year. This is the proposal that the European Commission will announce in the late morning. Negotiations between governments and with the European Parliament will have to proceed in forced stages.
