Fresh proposals on how to deal with big cross-border banks and other financial institutions in crisis situations will be unveiled within weeks, top regulators and supervisors said on Wednesday.

Joaquín Almunia, EU commissioner for economic and monetary affairs, said that the European Commission planned to issue a communication looking at how to manage cross-border banking crises very shortly – probably in October, before the current commission’s term ends officially and it goes into “caretaker” mode until a replacement commission is installed.