Author: Franklin Allen
Publisher: CEPR
ISBN: 1907142363
Category : Banks and banking
Languages : en
Pages : 117
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Book Description
This report argues that policy reforms in micro- and macro-prudential regulation and macroeconomic policies are needed for Europe to reap the important diversification and efficiency benefits from cross-border banking, while reducing the risks stemming from large cross-border banks.Available online as pdf at: http: //www.cepr.org/pubs/books/CEPR/cross-border_banking.pd
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498343287
Category : Business & Economics
Languages : en
Pages : 41
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Book Description
Developing an effective framework for cross-border resolution is a key priority in international regulatory reform. Large bank failures during the global financial crisis brought home the lack of adequate tools for resolving “too-big-to-fail” institutions. In cross-border cases, misaligned incentives and lack of robust mechanisms for resolution and cross-border cooperation left some country authorities with little choice but to take unilateral actions, which contributed to the high fiscal costs of the crisis and resulted in disorderly resolution in some cases
Author: Matthias Haentjens
Publisher: Edward Elgar Publishing
ISBN: 1786435985
Category : Law
Languages : en
Pages : 453
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Book Description
Since 2008, many countries across the globe have witnessed the introduction of new recovery and resolution regimes for banks. Whereas much may have been achieved on regional levels, this has not been perfect, and many global challenges remain unsolved. The Research Handbook on Cross-Border Bank Resolution analyses the strengths and weaknesses of the current regulatory framework for cross-border bank crises with contributions from eminent experts from the US, EU, Japan and China. The topic is addressed from both economic, and legal perspectives, with a special section devoted to real-life cases.
Author: Gerard Caprio
Publisher: World Scientific
ISBN: 9812568298
Category : Social Science
Languages : en
Pages : 491
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Book Description
Cross-border banking, while having the potential for a more efficient financial sector, also creates potential challenges for bank supervisors and regulators. This volume discusses topics that include: the landscape of cross-border bank activity, the resulting competitive implications, emerging challenges for prudential regulation, and more. Cross-border banking, while having the potential for a more efficient financial sector, also creates potential challenges for bank supervisors and regulators. It requires cooperation by regulatory authorities across jurisdictions and a clear delineation of authority and responsibility. That delineation is typically not present and regulatory authorities often have significantly different incentives to respond when cross-border-active banks encounter difficulties. Most of these issues have only begun to be seriously evaluated. This volume, one of the first attempts to address these issues, brings together experts and regulators from different countries. The wide range of topics discussed include: the current landscape of cross-border bank activity, the resulting competitive implications, emerging challenges for prudential regulation, safety net concerns, failure resolution issues, and the potential future evolution of international banking.
Author: Jens-Hinrich Binder
Publisher: Oxford University Press, USA
ISBN: 9780198754411
Category : Law
Languages : en
Pages : 0
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Book Description
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.
Author: Mr.Martin Cihak
Publisher: International Monetary Fund
ISBN: 1451873476
Category : Business & Economics
Languages : en
Pages : 31
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Book Description
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.
Author: Rishi Goyal
Publisher: International Monetary Fund
ISBN: 1475569823
Category : Business & Economics
Languages : en
Pages : 31
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Book Description
The SDN elaborates the case for, and the design of, a banking union for the euro area. It discusses the benefits and costs of a banking union, presents a steady state view of the banking union, elaborates difficult transition issues, and briefly discusses broader EU issues. As such, it assesses current plans and provides advice. It is accompanied by three background technical notes that analyze in depth the various elements of the banking union: a single supervisory framework; a single resolution and common safety net; and urgent issues related to repair of weak banks in Europe.
Author: Thomas Philippon
Publisher: Geneva Reports on the World Ec
ISBN: 9781912179008
Category : Business & Economics
Languages : en
Pages : 55
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Book Description
The 4th Special Report in the Geneva Reports on the World Economy series reviews the current status of bail-ins and bank resolution in Europe. It first provides a critical comparison of the US and EU bank resolution rules, including the underlying similarities, differences and enhancement points of both frameworks. It then goes on to focus on European banking failures, providing estimates of taxpayer costs and considering the hypothetical application of stronger private sector bail-in consistent with the spirit of the Bank Resolution and Recovery Directive. The report ends with a number of policy recommendations concerning governance, stress testing, cross-border issues and resolution of financial contracts.
Author: Mr.Giovanni Dell'Ariccia
Publisher: International Monetary Fund
ISBN: 1484359623
Category : Business & Economics
Languages : en
Pages : 54
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Book Description
This paper reviews empirical and theoretical work on the links between banks and their governments (the bank-sovereign nexus). How significant is this nexus? What do we know about it? To what extent is it a source of concern? What is the role of policy intervention? The paper concludes with a review of recent policy proposals.
Author: Alexander Michaelides
Publisher: World Scientific
ISBN: 1783268778
Category : Political Science
Languages : en
Pages : 365
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Book Description
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.
