On Wednesday 7 June, the European Commission approved the plan to resolve the Spanish bank Banco Popular by sale. The day before, the European Central Bank (ECB) judged that the Spanish bank was “failing or likely to fail” and notified the Single Resolution Board (SRB).
Readers may recall that resolution by sale is one of the four banking resolution tools provided for by Directive 2014/59/EU on the resolution and recovery of banks (BRRD). In particular, it provides for the shareholders...