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Towards a transnational bank restructuring law? – The attempt of the G20 to initiate and monitor regulatory responses to the „too big to fail“ problem –

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  • Sester Peter

    (*Prof. Dr. iur. Dr. rer. pol. Peter Sester, Director of the Institute for Information and Business Law, Karlsruhe Institute of Technologie (KIT))

Abstract

Consensus on a general (bank) insolvency law at both the G20 and the EU levels remains out of reach. Consequently we should focus on truly systemic cross-border banks. Therefore “systemic” banks have to be identified on economical rather than political grounds. The smooth coordination of different competent national supervisors will not work without clear-cut rules on competencies and a transnational framework “regulation”. This framework should be based on a G20 insolvency standard that creates a global level playing field for cross-border banks groups with systemic impact. Given the overlap between prudential regulation on the one-side and crisis intervention and resolution tools on the other side, it seems appropriate to implement such a standard via a new Basel Accord.

Suggested Citation

  • Sester Peter, 2010. "Towards a transnational bank restructuring law? – The attempt of the G20 to initiate and monitor regulatory responses to the „too big to fail“ problem –," European Company and Financial Law Review, De Gruyter, vol. 7(4), pages 512-549, January.
    • Handle: RePEc:bpj:eucflr:v:7:y:2010:i:4:p:512-549:n:2
    DOI: 10.1515/ecfr.2010.512
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