ECONOMY - FINANCE - BUSINESS / Banks

Sberbank case demonstrates importance of harmonising national insolvency regimes, says Elke König

Brussels, 30/03/2022 (Agence Europe)

The dismantling of the European subsidiaries of the Russian group Sberbank, triggered by the loss of depositor confidence after the Russian invasion of Ukraine, was a “success” for financial stability, but the experience once again shows the importance of harmonising national insolvency frameworks for financial institutions in the EU, said, on Wednesday 30 March, Elke König, the Chair of the Single Resolution Board (SRB), the European authority responsible for resolving large banking...