HALISTER: ECB Determined Banco Popular Was Failing, Likely to Fail (1)

ECB Determined Banco Popular Was Failing, Likely to Fail (1)

(Bloomberg) -- ECB determined on June 6 that Banco Popular Espanol SA was failing or likely to fail in accordance with Art. 18 (1) of the Single Resolution Mechanism Regulation.
  • “The significant deterioration of the liquidity situation of the bank in recent days led to a determination that the entity would have, in the near future, been unable to pay its debts or other liabilities as they fell due”
  • “Consequently, the ECB determined that the bank was failing or likely to fail and duly informed the Single Resolution Board, which adopted a resolution scheme entailing the sale of Banco Popular Espanol SA to Banco Santander SA”
  • ECB comments in statement on website

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
2539Z GR (European Central Bank)
POP SM (Banco Popular Espanol SA)

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