Staggered Completion of the European Banking Union
Staggered Completion of the European Banking Union

Author: Michael Koetter

Publisher:

Published: 2021

Total Pages:

ISBN-13:

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In May 2014, the European Commission published the Bank Recovery and Resolution Directive (BRRD). The directive introduces rules on bank resolution and restructuring including a bailin tool. It constitutes the legal foundation underlying the Single Resolution Mechanism (SRM). Member countries of the European Union (EU) had to transpose this directive into national law by 31 December 2014 and implement the rules on resolution and restructuring of failing banks from 1 January 2015 onwards. However, many countries delayed the implementation. We assemble a dataset on national transposition dates of the BRRD across the EU-27 countries.

The Bank Recovery and Resolution Directive and the Single Resolution Mechanism
The Bank Recovery and Resolution Directive and the Single Resolution Mechanism

Author: NACIIL

Publisher:

Published: 2017-03-23

Total Pages: 80

ISBN-13: 9789462367166

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The new European rules on bank insolvency seek to prevent future government-funded bailouts. Instead, risks should be internalized by the participants. The rules in the Bank Recovery and Resolution Directive and also the Single Resolution Mechanism seek to mimic the outcome of a normal insolvency procedures, without actually letting a failing institution enter full insolvency procedures. The rules enacted are of critical importance to a healthier and more stable financial sector. This book presents three reports in which the new rules are explained and criticized where needed. Professor Joossen discusses the bail-in mechanisms, while Nuijten analyses the legal protection offered to stakeholders against intervention under the Single Resolution Mechanism - or the lack thereof. Finally, Clancy considers the potential use of the new resolution tools in the context of counterparties, in particular repo and derivative counterparties to a financial institution.

European Bank Recovery and Resolution Directive
European Bank Recovery and Resolution Directive

Author: Valia Babis

Publisher:

Published: 2014

Total Pages: 36

ISBN-13:

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The EU bank recovery and resolution directive includes mechanisms for recovery (or “early intervention”) for groups. These are: group recovery plans, intra-group financial assistance and coordination of early intervention measures regarding groups.But do these group provisions ensure a consistent recovery procedure for the entire banking group across borders? While recovery tools applicable to more than one group affiliate are part of the EU regulatory framework, use of such tools across borders depends on the discretion of supervisors of group affiliates. Recovery tools can only apply across group affiliates if supervisors reach joint decisions and make use of recovery tools in a consistent, cooperative and coordinated manner across the group. This means that the effectiveness of group recovery depends greatly on the institutional architecture of supervision in the EU, and in particular, the relationships between supervisors within and beyond the SSM.

Spain
Spain

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2012-06-08

Total Pages: 77

ISBN-13: 1475504233

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This report summarizes the findings of the Financial Sector Assessment Program (FSAP) Update for Spain. Although there is a core of strong banks that are well managed and appear resilient to further shocks, vulnerabilities remain. Substantial progress has been made in reforming the former savings banks, and the most vulnerable institutions have either been resolved or are being restructured. Recent measures address the most problematic part of banks’ portfolios. Moving ahead, a further restructuring and recapitalization of some of the remaining weaker banks may be needed as a result of deteriorating economic conditions.

Cyprus Bail-in, The: Policy Lessons From The Cyprus Economic Crisis
Cyprus Bail-in, The: Policy Lessons From The Cyprus Economic Crisis

Author: Alexander Michaelides

Publisher: World Scientific

Published: 2016-02-29

Total Pages: 365

ISBN-13: 1783268778

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On June 28th 2012, the small island of Cyprus became the fifth government to request an economic bail-out from the Eurozone after losing access to international capital markets. Less than a year later, a €10 billion second rescue deal was agreed upon — an unprecedented agreement that bailed in creditors of Cyprus' two largest banks, and triggered an economic crisis that the nation still struggles to recover from today.This resourceful collection of essays provides a thorough and in depth analysis of how Cyprus reached the point of failure and what lessons this experience holds for future economic crises. The various perspectives collectively address unanswered questions, including whether the bail-in can be considered successful, why the recession was less severe than expected, and what conclusions can be drawn about stress-testing exercises across borders.Focusing on one of the (proportionately) largest crises in financial history, the case study will prove essential to policy-makers and politicians, especially in the euro area.