Management Company for Assets from Bank Restructuring (Sareb)

announced this Friday that it has filed a lawsuit against its senior debt holders (

Abanca, CaixaBank, Banco Sabadell, BBVA, Unicaja, Ibercaja



) with the aim of achieving that its bonds can generate negative returns, according to a press release sent to the

National Securities Market Commission (CNMV)


The entity argues that, after the changes included in Guideline (EU) 2016/2298, of 2 November, which modifies the previous Guideline on the application of the Eurosystem's monetary policy framework, since 2017 its senior debt issues they must allow negative financial flows, "which is consistent with the current context of capital markets, in which negative interest rates are commonly applied."

Thus, Sareb seeks to eliminate the restriction on negative returns that it introduced in 2015 in its issues and return to the original design of the bonds, after the

European Central Bank

changed its criteria on negative returns, and once this criterion has already been implemented. normalized.

According to the criteria of The Trust Project

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