Title: Banking Union and European Perspectives on Resolution
Abstract: Banking Crises and Resolution in Europe currently fall within the wider mandatory framework known as the Banking Union, whose first blueprint was laid down in 2012 with the scope of realizing at European level the regulatory and institutional framework necessary for the stability of the banking sector. The creation of a Banking Union, based on a strong transfer of powers from the national authorities to the European institutions in different domains of the banking system and characterized by an intervention of maximum, rather than minimum, harmonization, was triggered by the financial crisis that hit the banking market repeatedly since 2008. Breaking with its previous regulatory approach to financial system governance, largely based on harmonization and focused on liberalization, the European Banking Union introduces a system which is executive and institutional. This paper focuses on the rationale for harmonization of rules on banking crises and examines the tools of the so-called Resolution pillar of the Banking Union (the European Resolution Mechanism), including the BRRD and its main instruments (among which the bail-in procedure has attracted widespread attention for the innovation it brings into legal systems).
Publication Year: 2017
Publication Date: 2017-07-01
Language: en
Type: article
Access and Citation
AI Researcher Chatbot
Get quick answers to your questions about the article from our AI researcher chatbot