The European Court of Auditors has deemed appropriate the financial provisioning made by the Single Resolution Board (SRB) for the 2021 financial year to address the legal risks of resolving failing banks within the euro area banking union, in a report published on Wednesday 30 November.
In particular, the Court found no evidence to contradict the SRB’s decision not to make any budgetary provision in the event of a conviction at European level in cases concerning its decisions to resolve...