The chair of the Single Resolution Board (SRB), Elke Koenig, said on Tuesday 11 July that the European rules in force on the resolution of a failing bank had passed their first tests in Spain and Italy, but that there was still room for them to be improved.
While the first resolution decision – Banco Popular – has proven the effectiveness of the EU resolution framework, we also identified some areas for improvement”, Koenig told a public hearing at the European Parliament. The bank...