Following the decision by the European Central Bank to declare ABLV Bank, AS and its subsidiary ABLV Bank Luxembourg S.A. as ‘failing or likely to fail’, the Single Resolution Board (SRB) has decided that resolution action is not necessary as it is not in the public interest for these banks. As a consequence, the winding up of the banks will take place under the law of Latvia and Luxembourg, respectively.
- Full press release of 24 February 2018
- Summary of the SRB decision in relation to ABLV Bank, AS
- Summary of the SRB decision in relation to ABLV Bank Luxembourg S.A.