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...
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.