March 21, 2019 / 12:13 PM / 4 months ago

EU watchdog expects banks to have wind-up plan in any merger

BRUSSELS, March 21 (Reuters) - The European Union watchdog in charge of disposing of failing banks said on Thursday that Deutsche Bank and Commerzbank should make sure any lender emerging from a possible merger could be wound down in case of a crisis.

The Single Resolution Board (SRB), which is responsible for devising wind-down plans for the euro zone’s largest banks, said it does not comment on individual banks or mergers.

But when asked about the planned merger between Deutsche Bank and Commerzbank it said in a statement: “We expect firms to have consideration of their resolvability when undertaking significant business model changes.” (Reporting by Francesco Guarascio Editing by Edmund Blair)

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