For many, the banking union represents the most ambitious step in EU integration since the creation of the euro. As the chairwoman of the new authority to resolve European systemic banks, Elke König, has been in the driving seat of the process.
Despite the volatility that would trigger the UK’s departure from the EU, Brexit does not represent an “imminent risk” to financial stability, according to Single Resolution Board President Elke König.
Banco Popular intervention was a success story although more than 12,000 of the Spanish bank's shareholders requested to be heard in the complaint process, the European Commission and the Single Resolution Board (SRB) said on Monday (15 October).
Banks should invest more in IT infrastructure because providing quality data immediately makes all the difference when a bank needs to be resolved in an orderly fashion, the EU's Single Resolution Board has said.