Editorial: Do we need a BRRR?

Author: | Published: 22 Feb 2016

When should a EU directive become a regulation? Some think it's a question worth asking about the Bank Recovery and Resolution Directive (BRRD). Attention has certainly been drawn to the directive since Bank of Portugal's (BoP) December write down of Novo Banco's senior bond tranches.

For those who missed it, on December 29 the Bank of Portugal instructed Novo Banco's senior notes be moved into its bad bank predecessor, Espirito Santo before it was...