Press Release
AS PNB Banka: SRB Decides No Resolution Required
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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...