- EU Court agrees that SRB decisions on Banco Popular were within the law
- Action for damages dismissed
- SRB costs to be paid by applicants
The Single Resolution Board welcomes today’s judgments of the General Court of the European Union with regard to the Banco Popular resolution.
The General Court has confirmed the legality of the SRB’s decision to resolve Banco Popular Español and the European Commission’s endorsement of that resolution scheme, both of which implement the resolution legal framework. In addition, the action for damages has been dismissed and the applicants have been ordered to pay costs.
“I welcome the decision of the Court today, which vindicated the action the SRB took. We worked in a timely manner and within the law in order to maintain financial stability, while protecting the taxpayer from having to bail out the bank. I am pleased the Court agrees with the SRB’s position on our resolution decision,” – SRB Chair Elke König.
Banco Popular resolution
Contact our communications team
Recent press releases
- The SRB publishes its second assessment of banks’ resolvability across the Banking Union
- Good progress made to date on key priorities and in building...
The European Central Bank and the Single Resolution Board have signed a Memorandum of Understanding (MoU) on the exchange of certain types of...
The SRB publishes today its MREL dashboard for Q1.2023. The MREL dashboard presents the evolution of MREL targets and shortfalls for resolution...