Regulatory Alerts2015-12-18
Resolution Measures Committee Decision on Application of Sale of Business Tool to Cooperative Bank of Peloponnese
The Resolution Measures Committee of the Bank of Greece applied the sale of business tool to Cooperative Bank of Peloponnese after its authorization was withdrawn and it was deemed failing or likely to fail. The Committee awarded the selected assets and liabilities to National Bank of Greece, a bid that reduced the estimated resolution cost by five million euros. The Hellenic Deposit and Investment Guarantee Fund is required to pay the provisional valuation gap of approximately 94.6 million euros to the acquiring bank to cover the difference between transferred liabilities and assets.
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