|
Koenig, who has chaired the Single Resolution Board (SRB) since
its creation in 2014, currently has a three-year mandate that
expires in December.
The decision to extend her term was formalized by EU governments
on Monday after the European Commission and the European
Parliament had backed the move.
Koenig has this year overseen the first wind-down of a euro zone
bank under new rules aimed at reducing taxpayers' costs when
lenders fail.
The SRB's decision, together with the EU Commission, to force
the sale of Spain's ailing Banco Popular to rival Santander in
June has sparked a record number of lawsuits from bondholders
who have seen their investment wiped out in the process.
The decision also erased shareholdings but avoided a full
liquidation of the bank and spared depositors. It was deemed a
"success" by EU regulators.
A few weeks after winding down Banco Popular, the SRB decided
not to intervene in the rescue of two smaller Italian banks from
the Veneto region, Banca Popolare di Vicenza and Veneto Banca.
The decision allowed the Italian government to provide state aid
to the two lenders with laxer conditions than in an SRB rescue,
prompting accusations that EU banking rules were being applied
inconsistently.
The SRB said it had declined to intervene because the banks were
small and did not pose risks to the euro zone's financial
stability.
Koenig has also championed strict capital requirements for the
142 major euro zone banks under her watch to make sure they hold
sufficient buffers that could be written off, or bailed-in, if
they collapse.
(Reporting by Francesco Guarascio; Editing by Kevin Liffey)
[© 2017 Thomson Reuters. All rights
reserved.] Copyright 2017 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
