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Bank bailout fund judgments don't challenge overall legal framework, SRB says

( November 29, 2019, 09:37 GMT | Official Statement) -- MLex Summary: Bank bailout fund calculations are still overall valid in spite of an EU court decision yesterday that found procedural irregularities in how fees for three lenders had been finalized, the Single Resolution Board said. The 2016 contribtuions for Banco Cooperativo Español, Portigon, and Hypo Vorarlberg Bank had been "a very small percentage" of overall takings and applied when the SRB was in a "start-up phase," the statement said. The SRB is responsible for managing a 60 billion-euro fund ($66 billion) to restructure failing banks.Statement follows....

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