{"id":28235,"date":"2019-11-02T03:00:04","date_gmt":"2019-11-02T02:00:04","guid":{"rendered":"https:\/\/www.cde.ual.es\/?p=28235"},"modified":"2019-10-30T09:44:13","modified_gmt":"2019-10-30T08:44:13","slug":"the-future-of-bank-resolution-after-the-general-courts-tercas-judgment","status":"publish","type":"post","link":"https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/","title":{"rendered":"The Future of Bank Resolution after the General Court\u2019s Tercas Judgment"},"content":{"rendered":"

\"\"<\/a><\/p>\n

The genesis of the\u00a0EU bank resolution framework<\/a>\u00a0was based on the fundamental principle that failing financial institutions could not receive external financial support, be it industry financing or state aid unless they had first internalized their losses by placing the burden at least upon shareholders and junior creditors. <\/strong><\/em><\/p>\n

However,\u00a0the General Court\u2019s ruling in the\u00a0Tercas<\/em>\u00a0case in March 2019<\/a>\u00a0seems to strike a heavy blow against these fundamentals by considering that Tercas bank\u2019s recapitalization by a private banking consortium did not constitute state aid, even though the consortium was operating as a mandatory deposit guarantee scheme (DGS) and was obliged to reimburse deposits in case of liquidation, pursuant to the\u00a0DGS Directive<\/a>. In this context, this blog-post embarks on a brief analysis of the European risk management framework, and sails on to discuss the\u00a0Tercas<\/em>\u00a0judgment and its implications for the future, especially if upheld in the\u00a0pending appeal case<\/a>\u00a0before the Court of Justice of the EU (CJEU).<\/p>\n

Mapping the European risk management framework<\/h3>\n

To begin with, the EU bank resolution framework, as set out in the\u00a0Bank Recovery and Resolution Directive<\/a>\u00a0(\u2018BRRD\u2019), establishes two points of possible regulatory intervention: (i) the recovery and (ii) the resolution phase. In recovery, bank supervisors intervene whilst the bank remains solvent and can, among others, appoint a temporary administrator to its management (Article 29 BRRD). No specialized fund is designed for recovery purposes and state aid, if used, would trigger resolution. The resolution phase allows for full regulatory intervention since the institution has been deemed \u2018failing or likely to fail\u2019 (FOLTF) by the supervisor \u2013 a concept similar but not identical to national insolvency. In fact, resolution applies instead of national insolvency only when justified on public interest grounds to preserve financial stability (Article 32 BRRD). Thus, resolution authorities can impose losses upon shareholders, junior and senior unsecured creditors (\u2018bail-in\u2019), and sell the bank partly or entirely to a competitor, while sending into liquidation any remaining impaired assets. Following bail-in, financing can be provided either through collective industry funds \u2013 the\u00a0Single Resolution Fund<\/a>\u00a0(SRF) or the DGSs \u2013 or the state, if compliant with the Treaties. At any given point the rescue of an ailing bank can be funded through voluntary industry funds, separate from the SRF and DGSs.<\/p>\n

The\u00a0Tercas<\/em>\u00a0judgment<\/strong><\/h3>\n

Tercas was a relatively small Italian bank put under special administration by the Italian Ministry of Finance on 30 April 2012, as a pre-insolvency procedure similar to the \u2018recovery phase\u2019 mentioned above. The special administrator started discussions with Banca Popolare di Bari (BPB) for a potential acquisition deal, otherwise if no buyer was found Tercas would end up in administrative liquidation pursuant to national insolvency law. In such case, the competent Italian DGS, the Interbank Deposit Protection Fund (FITD), which constitutes a private banking consortium, would need to reimburse covered depositors pursuant to the DGSD. However, BPB agreed to buy Tercas but only under the condition that the FITD would cover Tercas\u2019 losses. Losses would thus be imposed only upon shareholders, not creditors. Following a request by the special administrator, the FITD voluntarily agreed to intervene and soon after, on July 7, 2014, the Bank of Italy authorized the intervention plan.<\/p>\n

After\u00a0Tercas<\/em><\/h3>\n

The Commission has\u00a0appealed<\/a>\u00a0against the General Court\u2019s judgment. In case the CJEU upholds\u00a0Tercas<\/em>, two direct implications will emerge.<\/p>\n

    \n
  1. In the context of state aid, it would mean that the CJEU departs from the landmark\u00a0Stardust Marine<\/em>\u00a0as regards the imputability of state aid deriving from private resources, and requires from now on decisive proof for imputability, not mere indications.<\/li>\n
  2. In the context of bank resolution, it challenges the credibility of the entire resolution framework. It means that DGS funds could be used either in recovery or resolution as a voluntary means of intervention to rescue banks without requiring creditors to carry any losses. Such an exception would generate moral hazard and thus threaten financial stability, the very objectives that the recently established bank resolution framework aims to achieve<\/li>\n<\/ol>\n

    More information<\/h3>\n

    Article-\u00a0IOANNIS ASIMAKOPOULOS<\/a><\/p>\n

    European Law Blog<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    The genesis of the\u00a0EU bank resolution framework\u00a0was based on the fundamental principle that failing financial institutions could not receive external financial support, be it industry financing or state aid unless they had first internalized their losses by placing the burden at least upon shareholders and junior creditors. However,\u00a0the General Court\u2019s ruling in the\u00a0Tercas\u00a0case in March […]<\/p>\n","protected":false},"author":1,"featured_media":14151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[346],"tags":[657,412],"class_list":{"0":"post-28235","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eu-news","8":"tag-banking","9":"tag-law","10":"entry"},"acf":[],"yoast_head":"\nThe Future of Bank Resolution after the General Court\u2019s Tercas Judgment | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Future of Bank Resolution after the General Court\u2019s Tercas Judgment | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda\" \/>\n<meta property=\"og:description\" content=\"The genesis of the\u00a0EU bank resolution framework\u00a0was based on the fundamental principle that failing financial institutions could not receive external financial support, be it industry financing or state aid unless they had first internalized their losses by placing the burden at least upon shareholders and junior creditors. However,\u00a0the General Court\u2019s ruling in the\u00a0Tercas\u00a0case in March […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/\" \/>\n<meta property=\"og:site_name\" content=\"CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cdeuniversidadalmeria\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-02T02:00:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2019\/01\/derecho-foto-e1548403353898.png\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"402\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"AdminCDE\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cdeualmeria\" \/>\n<meta name=\"twitter:site\" content=\"@cdeualmeria\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"AdminCDE\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\\\/\"},\"author\":{\"name\":\"AdminCDE\",\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/#\\\/schema\\\/person\\\/224ef08c8bcc005f319d2713ce37ee5f\"},\"headline\":\"The Future of Bank Resolution after the General Court\u2019s Tercas Judgment\",\"datePublished\":\"2019-11-02T02:00:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\\\/\"},\"wordCount\":679,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.cde.ual.es\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/derecho-foto-e1548403353898.png\",\"keywords\":[\"banking\",\"Law\"],\"articleSection\":[\"EU News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\\\/\",\"url\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\\\/\",\"name\":\"The Future of Bank Resolution after the General Court\u2019s Tercas Judgment | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.cde.ual.es\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/derecho-foto-e1548403353898.png\",\"datePublished\":\"2019-11-02T02:00:04+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.cde.ual.es\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/derecho-foto-e1548403353898.png\",\"contentUrl\":\"https:\\\/\\\/www.cde.ual.es\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/derecho-foto-e1548403353898.png\",\"width\":600,\"height\":402},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Inicio\",\"item\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"EU News\",\"item\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/category\\\/eu-news\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"The Future of Bank Resolution after the General Court\u2019s Tercas Judgment\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/#website\",\"url\":\"https:\\\/\\\/www.cde.ual.es\\\/\",\"name\":\"CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda\",\"description\":\"Centro de Documentaci\u00f3n Europea de la Universidad de Almer\u00eda\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/#organization\"},\"alternateName\":\"CDE Almer\u00eda\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.cde.ual.es\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/#organization\",\"name\":\"Centro de Documentaci\u00f3n Europea de Almer\u00eda\",\"url\":\"https:\\\/\\\/www.cde.ual.es\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.cde.ual.es\\\/wp-content\\\/uploads\\\/2025\\\/07\\\/cde-logo-3.png\",\"contentUrl\":\"https:\\\/\\\/www.cde.ual.es\\\/wp-content\\\/uploads\\\/2025\\\/07\\\/cde-logo-3.png\",\"width\":1400,\"height\":300,\"caption\":\"Centro de Documentaci\u00f3n Europea de Almer\u00eda\"},\"image\":{\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/cdeuniversidadalmeria\\\/\",\"https:\\\/\\\/x.com\\\/cdeualmeria\",\"https:\\\/\\\/www.tiktok.com\\\/@cdealmeria\",\"https:\\\/\\\/www.instagram.com\\\/cdealmeria\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/in\\\/cde-almera-812b26a9\\\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/#\\\/schema\\\/person\\\/224ef08c8bcc005f319d2713ce37ee5f\",\"name\":\"AdminCDE\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a72d038d371f995cd13706fac32274b7952a52e8fb0a84b5f80c85426f2a98a8?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a72d038d371f995cd13706fac32274b7952a52e8fb0a84b5f80c85426f2a98a8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a72d038d371f995cd13706fac32274b7952a52e8fb0a84b5f80c85426f2a98a8?s=96&d=mm&r=g\",\"caption\":\"AdminCDE\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Future of Bank Resolution after the General Court\u2019s Tercas Judgment | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/","og_locale":"en_US","og_type":"article","og_title":"The Future of Bank Resolution after the General Court\u2019s Tercas Judgment | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda","og_description":"The genesis of the\u00a0EU bank resolution framework\u00a0was based on the fundamental principle that failing financial institutions could not receive external financial support, be it industry financing or state aid unless they had first internalized their losses by placing the burden at least upon shareholders and junior creditors. However,\u00a0the General Court\u2019s ruling in the\u00a0Tercas\u00a0case in March […]","og_url":"https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/","og_site_name":"CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda","article_publisher":"https:\/\/www.facebook.com\/cdeuniversidadalmeria\/","article_published_time":"2019-11-02T02:00:04+00:00","og_image":[{"width":600,"height":402,"url":"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2019\/01\/derecho-foto-e1548403353898.png","type":"image\/png"}],"author":"AdminCDE","twitter_card":"summary_large_image","twitter_creator":"@cdeualmeria","twitter_site":"@cdeualmeria","twitter_misc":{"Written by":"AdminCDE","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/#article","isPartOf":{"@id":"https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/"},"author":{"name":"AdminCDE","@id":"https:\/\/www.cde.ual.es\/#\/schema\/person\/224ef08c8bcc005f319d2713ce37ee5f"},"headline":"The Future of Bank Resolution after the General Court\u2019s Tercas Judgment","datePublished":"2019-11-02T02:00:04+00:00","mainEntityOfPage":{"@id":"https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/"},"wordCount":679,"commentCount":0,"publisher":{"@id":"https:\/\/www.cde.ual.es\/#organization"},"image":{"@id":"https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/#primaryimage"},"thumbnailUrl":"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2019\/01\/derecho-foto-e1548403353898.png","keywords":["banking","Law"],"articleSection":["EU News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/","url":"https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/","name":"The Future of Bank Resolution after the General Court\u2019s Tercas Judgment | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda","isPartOf":{"@id":"https:\/\/www.cde.ual.es\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/#primaryimage"},"image":{"@id":"https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/#primaryimage"},"thumbnailUrl":"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2019\/01\/derecho-foto-e1548403353898.png","datePublished":"2019-11-02T02:00:04+00:00","breadcrumb":{"@id":"https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/#primaryimage","url":"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2019\/01\/derecho-foto-e1548403353898.png","contentUrl":"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2019\/01\/derecho-foto-e1548403353898.png","width":600,"height":402},{"@type":"BreadcrumbList","@id":"https:\/\/www.cde.ual.es\/en\/the-future-of-bank-resolution-after-the-general-courts-tercas-judgment\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Inicio","item":"https:\/\/www.cde.ual.es\/en\/"},{"@type":"ListItem","position":2,"name":"EU News","item":"https:\/\/www.cde.ual.es\/en\/category\/eu-news\/"},{"@type":"ListItem","position":3,"name":"The Future of Bank Resolution after the General Court\u2019s Tercas Judgment"}]},{"@type":"WebSite","@id":"https:\/\/www.cde.ual.es\/#website","url":"https:\/\/www.cde.ual.es\/","name":"CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda","description":"Centro de Documentaci\u00f3n Europea de la Universidad de Almer\u00eda","publisher":{"@id":"https:\/\/www.cde.ual.es\/#organization"},"alternateName":"CDE Almer\u00eda","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.cde.ual.es\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.cde.ual.es\/#organization","name":"Centro de Documentaci\u00f3n Europea de Almer\u00eda","url":"https:\/\/www.cde.ual.es\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cde.ual.es\/#\/schema\/logo\/image\/","url":"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2025\/07\/cde-logo-3.png","contentUrl":"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2025\/07\/cde-logo-3.png","width":1400,"height":300,"caption":"Centro de Documentaci\u00f3n Europea de Almer\u00eda"},"image":{"@id":"https:\/\/www.cde.ual.es\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/cdeuniversidadalmeria\/","https:\/\/x.com\/cdeualmeria","https:\/\/www.tiktok.com\/@cdealmeria","https:\/\/www.instagram.com\/cdealmeria\/","https:\/\/www.linkedin.com\/in\/cde-almera-812b26a9\/"]},{"@type":"Person","@id":"https:\/\/www.cde.ual.es\/#\/schema\/person\/224ef08c8bcc005f319d2713ce37ee5f","name":"AdminCDE","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a72d038d371f995cd13706fac32274b7952a52e8fb0a84b5f80c85426f2a98a8?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a72d038d371f995cd13706fac32274b7952a52e8fb0a84b5f80c85426f2a98a8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a72d038d371f995cd13706fac32274b7952a52e8fb0a84b5f80c85426f2a98a8?s=96&d=mm&r=g","caption":"AdminCDE"}}]}},"_links":{"self":[{"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/posts\/28235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/comments?post=28235"}],"version-history":[{"count":0,"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/posts\/28235\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/media\/14151"}],"wp:attachment":[{"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/media?parent=28235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/categories?post=28235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cde.ual.es\/en\/wp-json\/wp\/v2\/tags?post=28235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}