European Council President Herman Van Rompuy said the 27 leaders agreed at a Brussels summit to adopt a legal framework by the end of the year giving the European Central Bank overall responsibility for banking supervision.
After almost 10 hours of talks, he told a news conference:
Once this is agreed, the single supervisory mechanism could probably be effectively operational in the course of 2013.
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The Foreign Office warned holidaymakers that "intensive law enforcement activities" were expected in Montego Bay.
The man who sold himself to the American people as the greatest deal maker in history is now overseeing paralysis.
The US government has shut down for the first time since 2013 after Congress failed to resolve a standoff over immigration and spending.