Elke König renewed as chairperson of bank resolution board

Source: Council of the European Union (Council) i, published on Monday, December 18 2017.

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On 18 December 2017, the Council renewed Elke König's term of office as chairperson of the EU's single resolution board.

Completing a three-year tenure as the board's first-ever chairperson, Ms König is renewed for a further five years as from 23 December 2017.

The six-member board oversees the resolution of unviable banks. It was established in 2014 under the single resolution mechanism, a key component of the EU's banking union.

The decision was taken without discussion at a meeting of the Transport, Telecommunications and Energy Council. The European Parliament approved the proposal on 12 December 2017.

The banking union currently comprises the 19 countries of the euro area, whilst 7 other member states have also indicated their intention to join. The term of office of the board's chairperson can be renewed only once.

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