SRB denies conflict of interest claim on Banco Popular

Bondholders poised to challenge “no creditor worse off” valuation if compensation is denied

Banco Popular
Banco Popular was put into resolution by the SRB on June 7, 2017
Image: Fabian Stratenschulte/DPA/PA Images

The Single Resolution Board has defended using accountancy firm Deloitte for the second and third valuations of failed Spanish bank Banco Popular amid scathing criticism from lawyers representing former bondholders. The first valuation was undertaken by the SRB itself in mid-2017.

In comments emailed to Risk.net, an SRB official argues there is no conflict of interest in the firm being commissioned to undertake both an earlier preliminary valuation at the time of the resolution in June 2017 and

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