Resolution Fund

The entity that supervises public spending on public companies has admitted that Novobanco may need fresh cash injections from the public purse. The Tribunal de Contas – Portugal’s supreme [...]

Government and banking sector bailouts for Portugal’s banks have been the highest in the European Union. More than a decade after the global financial crisis, which led to various countries in [...]

The Portuguese government has said there will be no more taxpayer handouts to Novobanco which was created after the Banco Espírito Santo empire collapsed in 2014. According to ECO online, the [...]

The Resolution Fund which has provided cash to keep Novo Banco’s capital ratio levels financially viable since 2015, has hired PwC to decide if the bank needs to draw on €112 million from the [...]

The Portuguese parliament has approved extending the date limit of a public inquiry into alleged mismanagement at Banco Espírito Santo which collapsed in 2014 and its successor Novo Banco which [...]

The Resolution Fund which is responsible for injecting cash into Novo Banco to ensure it meets ECB contingent capital levels has been given the green light by the government to ask the banking [...]

According to a document published by the European Commission in 2018 on the estimated costs of restructuring Novo Banco, the Resolution Fund will have, in the very best scenario, to fork out [...]

Novo Banco has requested €600 million from the Resolution Fund to partly cover losses of around €160 million made in 2020. But Prime Minister António Costa said that the application to the fund [...]