Following the European Central Bank’s assessment of AS PNB Banka as failing or likely to fail, the Single Resolution Board has today decided that resolution action is not necessary. The Latvian bank will be wound up under national law.
The SRB assessed the situation and concurred with the ECB’s assessment of the bank. It concluded that there are no available supervisory or private sector measures that could prevent its failure.
The Board carried out a public interest assessment and found that resolution action was not necessary. In particular, PNB Banka does not provide critical functions to...
Directives and regulations related to this decision
On 15 August 2019, following the European Central Bank’s assessment of AS PNB Banka as failing or likely to fail, the Single Resolution Board decided that resolution action was not necessary, as it was not in the public interest. AS PNB Banka is currently being wound up under national law.
Decisions of the SRB may be challenged before the Appeal Panel of the SRB or before the Court of Justice of the European Union.
Before the Appeal Panel
The competence of the Appeal Panel is determined by Article 85(3) of the SRM Regulation. Only the decisions of the SRB referred to in...
Who may appeal?
Any natural or legal person, including authorities, when the SRB decision is addressed to that person...
Before the Court of Justice of the European Union
All decisions of the SRB that are not appealable before the Appeal Panel, pursuant to...
Who may appeal?
Member States and the Union institutions, as well as any natural or legal person, when the SRB decision is addressed to that person...