A post by @FirstSquawk on X.

The European Banking Authority has stepped back from its push for a unified EU deposit insurance scheme, according to the Financial Times. The retreat leaves the bloc’s bank-failure framework without a common backstop for depositors, preserving national deposit-guarantee schemes that vary in size and funding across member states. The issue matters because a shared insurance pot was seen as the missing piece of the EU’s banking union, meant to break the link between banks and their home sovereigns. Watch whether the European Commission revives the plan in its next banking-union proposals and whether northern member states, which have resisted pooling risk, soften their opposition.