Chance to ‘review’ BRRD must be seized, says Visco
Rapid transition caused problems for recent bank resolution, Visco says
Bank of Italy governor Ignazio Visco criticised the speed with which the Bank Resolution and Recovery Directive (BRRD) was implemented in Europe during a speech on January 30.
The new rules complicated the recent resolution of four Italian banks by the central bank, Visco told an audience in Turin. European Union member states should make sure the BRRD's provisions were brought in line with international practice, he argued.
Four smaller Italian banks were "placed under special administration"
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