SRB chair warns against assuming senior is not bail-inable

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By Jasper Cox
13 Jul 2017

Elke König, chair of the European Single Resolution Board (SRB), said this week that it would be "very wrong" to suggest that senior unsecured bonds would not be bailed-in if a bank starts to fail, after the asset class escaped unscathed from three rescues this month.

Veneto Banca and Banca Popolare di Vicenza were split up by the Italian national resolution authority on June 25 after the SRB decided the conditions for resolution under the bank resolution and recovery directive (BRRD) guidelines had not been met. The bad parts were liquidated by the Italian ...

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