Resolution i upadłość w sektorze bankowym na przykładzie Sberbank Europe AG

Magdalena Kozińska; Tomasz Jura

doi:10.26354/bb.3.3.88.2022

Published : 2022-10-07

Vol. 88 No. 3 (2022)

Resolution and liquidation in the banking sector – the example of Sberbank Europe AG

Magdalena Kozińska

https://orcid.org/0000-0001-8767-6545

Tomasz Jura

https://orcid.org/0000-0001-7707-4700

DOI: https://doi.org/10.26354/bb.3.3.88.2022

Abstract

The article deals with the issues related to the bankruptcy of Sberbank Europe AG. On February 24, 2022, the Russian invasion of Ukrainian territory began. In response to this agression, the Member States of the European Union and the European Union as such imposed direct economic sanctions on the Russian Federation. Economic ties were seriously disrupted. Sberbank Europe AG, owned by an entity based in Russia, experienced severe liquidity problems. The European Central Bank announced that, in its opinion, Sberbank Europe AG and its two subsidiaries in the banking union, Sberbank d.d. in Croatia and Sberbank banka d.d. in Slovenia they are failing or likely to fail (FOLTF) for the abovementioned reason. This decision was confirmed by the Single Resolution Board. The text analyzes actions taken by safety net institutions in the European Union, Bosnia and Herzegovina and Serbia. In this aspect, the decision to initiate or not to initiate the resolution procedure is of particular importance in the first place. Then, attention was paid to the scope of the resolution tools used. The importance of national authorities, including deposit guarantee schemes, in the crisis management process was emphasized. The article uses information available on the websites of financial safety net institutions, press publications and financial statements of the Sberbank group entities.