Bank Resolution: The European Regime

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Bank Resolution: The European Regime

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Responding to lessons learned during the global financial crisis, the EU Directive on the Recovery and Resolution of Banks and Securities Firms (the BRRD) has substantially changed the legal framework for insolvency management of financial services institutions across Europe.

As the legislative process has been completed with the adoption of the BRRD, and of Regulation No 806/2014 establishing the Single Resolution Mechanism, this book offers a unique insight into the new European framework for the resolution of banks in distress.

The chapters in this volume take stock of what has been achieved and present an insightful analysis of both the technical framework and its impact on banking institutions and their counterparties in representative forms of banking activities, including retail and wholesale depositors, counterparties to financial directives, and the providers of relevant parts of the market infrastructure. Special attention is given to the international coordination of resolution.

The book's focus is on resolution and its impact on the relationships between banks, customers, other market participants and market infrastructure, including the preventative requirements on recovery and resolution planning under the BRRD. The chapters bring together a wide range of perspectives by scholars, practitioners from regulatory authorities and other parts of the financial safety net, as well as from private practice, from many jurisdictions, and both legal and economic backgrounds.

Arranged broadly in line with the structure of the BRRD, the book is a highly useful reference for practitioners, policy-makers, and academics alike.

1: Dalvinder Singh: Recovery and Resolution Planning: Reconfiguring Financial Regulation and Supervision
2: Jens-Hinrich Binder: Resolution: Concepts, Requirements and Tools
3: Charles Enoch: The Crisis Management Directive: An International Standards Perspective
4: Marc Benzler & Christian Hissnauer: Derivatives And Bail-In Under The EU Bank Recovery And Resolution Directive
5: Stephen Connelly: The Implementation of the EU Bank Recovery and Resolution Directive's Derivative Bail-In Powers in the UK
6: Simon G. Grieser & Christian Mecklenburg-Guzman: The Revision of The Credit Derivative Definitions in The Context of The Banking Recovery and Resolution Directive
7: Maria J. Nieto: Third Country Relations in the Directive Establishing a Framework for the Recovery and Resolution of Credit Institutions
8: Costanza Russo: BRRD and Third Countries Cooperation Mechanisms: Will They Be Effective?
9: Christos Hadjiemmanuil: The Bank Recovery and Resolution Directive in Context
10: David G. Mayes: The Funding of Bank Resolution
11: John Raymond LaBrosse & David K. Walker: The Role of Deposit Insurance Post Implementation of the EU Recovery, Resolution and Deposit Guarantee Directives
12: Mathias Hanten: The European Deposit Guarantee Directive: A Domestic Perspective
13: Michael H. Krimminger: Single and Multiple Point of Entry: A US and UK Approach
14: Jeremy Jenning-Mares, Anna T. Pinedo, and Oliver Ireland: The Approaches to Bank Resolution: A Study of the UK and the U.S
15: Ioannis Kokkoris & Rodrigo Olivares-Caminal: Resolution of Banks and the State Aid Regime
16: Chryssa Papathanassiou: Financial Market Infrastructures In Stress Scenarios