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Banking Crisis Regulation after the General Court’s Ruling in Tercas

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  • Vittorio Minervini

Abstract

The interrelation between insolvency law and competition law is particularly evidentin the banking crises regulation. Following an overview on such sector-specific regulation,the paper retraces the genesis and the rationales of the Bank Recovery and ResolutionDirective (Brrd), enacted in the wake of the financial crisis of 2008. The impactof the Commission’s decision Tercas, annulled by the General Court, on the Italiansystem is then analysed, with a particular focus on the intervention of statutory guaranteesof deposits. After having introduced the essentials of the Commission’s LiquidationScheme for small banks, the paper tries to figure out how the Tercas judgement willimpact on the banking crisis and how will the new setting be reconciled with competitionlaw. Finally, the paper investigates whether the current system is well-equipped toface the unprecedented problems that the post-CoVid recession phase will pose. Somepreliminary thoughts conclude the analysis.

Suggested Citation

  • Vittorio Minervini, 2020. "Banking Crisis Regulation after the General Court’s Ruling in Tercas," Mercato Concorrenza Regole, Società editrice il Mulino, issue 1, pages 73-98.
    • Handle: RePEc:mul:jhpfyn:doi:10.1434/97762:y:2020:i:1:p:73-98
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