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EU mid-sized banks could still need bailouts if they fail, SRB’s Machado says

( June 23, 2021, 11:22 GMT | Official Statement) -- MLex Summary: The euro area’s mid-sized banks risk distorting competition or being bailed out by taxpayers if they fail, because they are too big to be allowed to go insolvent but they issue too little debt to enforce a creditor rescue, the Single Resolution Board has said. Pedro Machado, who is Director of Resolution Planning and Decisions at the Brussels-based SRB, suggested that a recent state aid court case involving Italy's Banca Tercas might offer a solution, and called for the EU to have a single bank liquidation regime on the lines of the US Federal Deposit Insurance Corporation.Speech follows. ...

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