Frob challenges ‘are not minor’ despite losing powers to SRM, says Restoy

Fernando Restoy, chairman of the Frob

The Fund for Orderly Bank Restructuring (Frob) will lose the majority of its powers to the Single Resolution Mechanism (SRM), but the challenges it will face in the near future "are not minor", argues Fernando Restoy, chairman of the fund and deputy governor of the Bank of Spain.

At a congressional hearing today Restoy explained the Frob still has to unwind its investment in two commercial banks – Bankia and BNM – "which will be essential to reduce as much as possible the large volume of public

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