Upholding values: bondholders demand resolution transparency

Banco Popular case could have wider implications for future bank bail-ins

Euro safe
Locked away: lack of transparency over resolution decision has been described as "inexcusable”

Bank resolutions are never pretty or popular. But it would be particularly painful if the first resolution undertaken by Europe’s Single Resolution Board (SRB) – on Spain’s Banco Popular – turned out to be illegal.

This, at least, is the contention of Popular’s junior bondholders. It means that a great deal more than just money now rides on the valuation used by the SRB in making its resolution decision – the reputation of Europe’s newest regulator is also at stake. And the general treatment of

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