On 25 August 2010, the German government published a draft of an Act for the Restructuring and Orderly Liquidation of Credit Institutions, for the Establishment of Restructuring Fund for Credit Institutions and for the Extension of the Limitation Period of Corporate Law Management Liability (Restrukturierungsgesetz, the "German Restructuring Act"). It is anticipated that the German Restructuring Act will soon be introduced to the German parliament and be passed quickly.
The proposed date for the entrance into force of this legislative package is 31 December 2010, which indicates that the German government is once again putting pressure on the EU to make progress with implementing stricter banking regulation across the EU.
