On Thursday 14 January, the European Court of Auditors identified shortcomings in the planning of banking resolution carried out under the auspices of the Single Resolution Board (SRB), the European authority responsible for resolving large failing banks within the euro area banking union.
“We audited the initial phase of resolution planning” for a large failing bank and found that “some elements are still missing”, said Rimantas Šadžius, member of the Court of Auditors,...