ECB needs liquidity powers for bank resolution – Spanish governor

De Cos stresses mechanism must include guarantees to repay public money

Pablo Hernández de Cos
Bank of Spain governor Pablo Hernández de Cos
Photo: Banco de España

The European Central Bank should be given powers to provide emergency funds to failing banks, Bank of Spain governor Pablo Hernández de Cos said today (July5).

In a speech in Madrid, de Cos said the ECB should be able to supply adequate liquidity to stressed banks while the Single Resolution Board works out their resolution.

“In view of how other advanced countries have solved this problem, the solution, in my opinion, could involve the central bank as a provider of funds,” said de Cos.


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