European Parliament Library

The Need for Special Resolution Regimes for Financial Institutions—The Case of the European Union, Martin Cihak, Erlend Nier

The global financial crisis has demonstrated weaknesses in resolution regimes for financial institutions around the globe, including in the European Union (EU). This paper considers the principles underlying resolution regimes for financial institutions, and draws out how a well-designed resolution regime can expand the toolset available for crisis management. Introducing, or in some cases expanding the scope, of these regimes is pressing to achieve more effective responses to ongoing financial sector weaknesses across the EU
Table Of Contents
Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. The Need for Special Resolution Regimes: Crisis Lessons; A. Systemic Costs of Failure and Fiscal Costs of Bailouts; 1. Fiscal Cost and Systemic Impact in Resolution Regimes; B. Lack of Control for Authorities; C. Efficient Solutions May Be Blocked; D. Public Support and Moral Hazard; 1. United Kingdom: Special Resolution Regime of 2009; E. Diversity of National Approaches within the EU; 2. Key Legal Aspects of Current Resolution Regimes for Banks in EU Countries; III. Principles and Design of the Framework; A. Principles
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (58 p.)
Specific Material Designation
Form Of Item

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