• Common approach necessary at EU level as well as globally on bank resolution funds
• Failure to agree EU approach risks unilateral imposition of levies, distortion of banking markets
• Bank’s contribution may be based on liabilities, assets or profits and bonuses
• Proposal does not deal with levy to recoup public funds committed in crisis
• It does not seem appropriate to extend resolution to other financial institutions
• Resolution funds will be used to help financial resolution of distressed financial entities
• Bank resolutiuon funds should be seperate from national budget, dedicated to resolution costs
• Plans ot adopt resolution funds legislation in early 2011