Volker Wieland criticizes scope of discretion in bank resolution ("Welt am Sonntag", "Die Welt")

According to Volker Wieland, the new Bank Recovery and Resolution Directive, known as BRRD rules, allow a scope of discretion that is too broad. Therefore, he is critical of the new rules.

In his opinion, it would be exaggerated to think that banks wouldn't be rescued with tax money in the future, he said in an interview with the German weekly "Welt am Sonntag". This could not be completely excluded.

Apart from that, the case of the Portuguese Novo Banco shows that the rules are not applied consistently. Foreign major investors were disadvantaged in relation to domestic major investors, he said.


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