BERLIN Jan 14 Sabine Lautenschlaeger, Germany's
candidate for a vacant seat on the European Central Bank's
board, said on Tuesday she hoped regulation for the planned
pan-European bank wind-up agency would come into force earlier
She said she hoped regulation around the single resolution
mechanism (SRM) - a euro zone authority with its own fund that
would decide how to wind down or restructure banks that are no
longer viable - would be finalised in April as planned.
"Furthermore I hope that we do not have to wait until 2018
for the SRM regulation to come into force, but rather that this
happens much earlier so that European resolution can complement
European supervision as soon as possible," said Lautenschlaeger,
the Bundesbank's vice president.
In November the European Central Bank said it was in favour
of bringing forward the start date of the bail-in tool to before
Banking supervision will be centralised under the ECB's roof
from November 2014 as the first part of a plan for European
banking union aimed at preventing financial crises.
Lautenschlaeger is the only candidate to succeed Germany's
Joerg Asmussen, who left the ECB two years into his eight-year
term to rejoin the German government as state secretary in the
(Reporting by Michelle Martin; Editing by Mike Collett-White)