Regulatory Alerts2013-05-14
Resolution Measures Committee Order to Transfer Assets and Liabilities of FBB to National Bank of Greece
The Resolution Measures Committee ordered the transfer of selected assets and liabilities of FBB – First Business Bank S.A. to National Bank of Greece S.A. to preserve financial stability and avoid a serious shock to the Greek banking system. This decision followed a successful bidding procedure where National Bank of Greece was awarded the assets as the most advantageous bid, ensuring business continuity and minimizing resolution costs. The transfer includes customer deposits, loans, and contractual relationships, while excluding specific items such as employment contracts, tax liabilities, and non-performing loans which remain with the liquidated entity.
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