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Finance

Finance

After an impasse of several years, something’s at play at the banking union. The article by German Finance Minister Olaf Sholz in the ‘Financial Times’ on November 5th and the concomitant German “non-paper” have kicked-off a much-awaited debate about the outstanding elements required to finalize this crucial European project.

  • santiago-fernandez-de-lis

    Santiago Fernández de Lis

BBVA today testified before the Central Investigating Court number 6 of the Spanish National High Court. The declaration, that will continue at a later date, is yet another example of BBVA’s commitment to full cooperation with the judicial authorities, to whom it has provided documents since the onset of the case, proactively sharing the information obtained from the forensic investigation, carried out by Garrigues, Uría Menéndez y PwC.

Bank of Spain today notified BBVA about the new MREL requirement that the bank will need to comply with starting January 1, 2021. According to BBVA estimates, the current structure of own funds and eligible liabilities in its balance sheet is in line with this MREL requirement, as well as the new subordination requirement.