Search Results for: Bank Recovery And Resolution

Bank Recovery and Resolution

Bank Recovery and Resolution

Author: Sven Schelo

Publisher: Kluwer Law International

ISBN: 9403518812

Category:

Page: 320

View: 418

Bank Recovery and Resolution' is a book that organises a highly complex legal system into patterns and action plans that can be applied in virtually any eventuality likely to arise in cases where bank business is of central significance. In light of the colossal efforts that have been made worldwide since 2008 to draft rules to prevent a reoccurrence of the disastrous financial events of that year, the bank business has been laid open to the intense public and government scrutiny, and regulation of banking has grown to astounding proportions. Surpassing the other measures taken, the EU Bank Recovery and Resolution Directive (BRRD) along with the Single Resolution Mechanism (SRM) and the Single Resolution Fund model a pivotal new pillar in the European Banking Union.

Bank Resolution

Bank Resolution

Author: Chair in Private Law Commercial and Corporate Law and Professor of Law Jens-Hinrich Binder

Publisher:

ISBN: 0198754418

Category:

Page: 384

View: 356

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.

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:

ISBN: 9462367167

Category:

Page: 80

View: 451

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.

Bank Recovery and Resolution

Bank Recovery and Resolution

Author: Matthias Haentjens

Publisher: Eleven International Pub

ISBN: 9462364087

Category: Law

Page: 254

View: 737

European legislators have recently proposed the introduction of a completely new regime for crisis management in the banking sector. Once enacted, this legislative initiative will bring about an unprecedented harmonization of European bank insolvency law. On May 23, 2013, the Hazelhoff Center for Financial Law at Leiden Law School and the Netherlands Association for Comparative and International Insolvency Law (NACIIL) organized a conference on the highly topical theme of recovery and resolution of credit institutions and investment firms. The key question to which answers were sought at this conference was: "Which rules should govern banks in difficulties?" This book contains papers presented at the conference, covering topics such as: the requirements for a rescue or recovery plan * bail-in and the position of counter-parties * the rule of law versus authorities discretion * the treatment of cross-border groups. In addition, the book includes a keynote plenary address paper, the reports of the workshops, as well as the report of the plenary discussion.

Bank Recovery and Resolution

Bank Recovery and Resolution

Author: Sven Schelo

Publisher: Kluwer Law International B.V.

ISBN: 9789403519159

Category: Law

Page: 320

View: 282

Bank Recovery and Resolution Second Edition Sven Schelo Since 2008, enormous efforts have been made worldwide to draft rules to prevent a reoccurrence of the devastating financial events of that year. In the process, bank business has been laid open to intense public and government scrutiny, and regulation of banking has grown to spectacular proportions. Prominent among the measures taken is the EU Bank Recovery and Resolution Directive (BRRD), which, together with the Single Resolution Mechanism (SRM) and the Single Resolution Fund, constitutes a crucial new pillar in the European Banking Union. Practitioners searching for orientation in what can readily be perceived as a ‘jungle’ have an urgent need for a clear and systematic description and analysis of these new rules, which are sure to have a massive impact on bank business from this time on, not only in Europe but also wherever European business is to be found. The solidly grounded analysis in this important book sets the new rules under BRRD into their full context as cross-border phenomena. With its crystal-clear explanation of key provisions, procedures, and ‘triggers’, the book organises a highly complex legal system into patterns and action plans that can be applied in virtually any eventuality likely to arise in cases where bank business is of central significance. Among the topics covered are the following: – entities covered by BRRD; – exceptions under BRRD; – objective and scope of BRRD tools – bail-in, bridge bank, sale of business, asset separation; – asset quality reviews; – curing or mitigating the continuing problem of non-performing loans; – new rules as response to lack of private solutions; – banks’ requirement to provide a minimum amount of eligible liabilities; – safety buffers to protect resolution; – need to be ‘resolvable’ in a worst case; – leverage and liquidity ratios; – forced mergers; – market spillover effects of recovery planning; – group recovery planning; – effects of foreign law contracts and assets; – write-down of capital instruments; and – special problems of cross-border restructuring. The presentation is enhanced by a comparative dimension, which includes reference to United States and other national developments and a full-scale analysis of Switzerland’s regulatory response to the crisis. Given that a full seamless global system of bank recovery and resolution has not yet been found, and that major banks are global players headquartered in different jurisdictions and even different continents, this book will greatly assist in the work of practitioners who must deal with cases involving international banking under the prevailing status quo. Its usefulness to officials and academics in international banking and finance law and policy, who are working towards a global solution, is of incalculable value.

Resolution in Europe: The Unresolved Questions

Resolution in Europe: The Unresolved Questions

Author: Andreas Dombret

Publisher: Walter de Gruyter GmbH & Co KG

ISBN: 9783110640502

Category: Law

Page: 186

View: 724

The work draws conclusions of the fourth conference in a series on the subject of "too big to fail", hosted by the Institute for Law and Finance at Goethe University, Frankfurt am Main on April 23, 2018. It presents the views of key European Union officials as well as senior executives from the financial sector on where Europe stands in this crucial area.

The Bank Recovery and Resolution Order 2014

The Bank Recovery and Resolution Order 2014

Author: Great Britain

Publisher:

ISBN: 0111126541

Category:

Page: 88

View: 203

Enabling power: European Communities Act 1972, s. 2 (2). Issued: 09.01.2015. Made:17.12.2014. Laid: -. Coming into force: 01.01.2015. Effect: 2000 c.8; 2009 c.1 & S.I. 2009/319, 322; 2014/1831 amended. Territorial extent & classification: E/W/S/NI. General. Supersedes draft S.I. (ISBN 9780111123782) issued 28/11/14

Resolution and Insolvency of Banks and Financial Institutions

Resolution and Insolvency of Banks and Financial Institutions

Author: Michael Schillig

Publisher:

ISBN: 0191008613

Category:

Page:

View: 573

The book discusses the legal mechanisms available in the EU and the United States to deal with banks and other financial institutions that are in financial distress. It analyses the impact of the Bank Recovery and Resolution Directive looking at implementation in the UK and Germany, and uses US law as a comparative reference point.

Optimal Bank Recovery

Optimal Bank Recovery

Author: Mr.C. A. E. Goodhart

Publisher: International Monetary Fund

ISBN: 9781513584263

Category: Business & Economics

Page: 41

View: 389

Banks’ living wills involve both recovery and resolution. Since it may not always be clear when recovery plans or actions should be triggered, there is a role for an objective metric to trigger recovery. We outline how such a metric could be constructed meeting criteria of (i) adequate loss absorption; (ii) distinguishing between weak and sound banks; (iii) little susceptibility to manipulation; (iv) timeliness; (v) scalable from the individual bank to the system. We show how this would have worked in the U.K., during 2007–11. This approach has the added advantage that it could be extended to encompass a whole ladder of sanctions of increasing severity as capital erodes.

Ireland

Ireland

Author: International Monetary Fund. Monetary and Capital Markets Department

Publisher: International Monetary Fund

ISBN: 9781475542196

Category: Business & Economics

Page: 44

View: 244

This Technical Note discusses the findings and recommendations in the Financial Sector Assessment Program for Ireland regarding the financial safety net, bank resolution, and crisis management. The introduction of the “single rulebook” for financial services regulation within the European Union and the establishment of the banking union have transformed the Irish framework for dealing with failing banks. The new regime reflects an EU-wide initiative to strengthen supervision, harmonize prudential rules, and establish a uniform bank resolution regime. The Bank Recovery and Resolution Directive has significantly strengthened the resolution regime in Ireland and the European Union. Significant progress has also been made on the banking union, although key aspects remain to be completed.