The need for revised resolution regimes and supervisory arrangements
AbstractIn October 2010, having drawn crucial lessons fom the Financial Crisis which was triggered in 2007, and whose impact was still evident at the time, the Financial Stability Board Recommendations on systemically important financial institutions „called for an assessment, on the basis of the BCBS Recommendations and the draft FSB Key Attributes of Effective Resolution Regimes (FSB Key Attributes), of national authorities’ capacity to resolve SIFIs under existing resolution regimes and of the legislative and other changes to national resolution regimes and policies needed to accomplish effective resolution.“ As well as attempting to highlight why much greater initiatives and efforts are required in relation to exit mechanisms for failing banks – that is, greater initiatives and efforts than prudential aspects of regulation which embrace capital adequacy procedures, this paper also draws attention to vital steps that could be taken at international level to make cross-border resolutions more effective.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 33674.
Date of creation: Sep 2011
Date of revision:
lender of last resort; special resolution regime; Financial Crisis; liquidation; bankruptcy; systemic risks; living wills; bailing in; resolution procedures; deposit protection; liquidity;
Find related papers by JEL classification:
- K2 - Law and Economics - - Regulation and Business Law
- G01 - Financial Economics - - General - - - Financial Crises
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- Reinhart, Carmen & Felton, Andrew, 2008. "The First Global Financial Crisis of the 21st Century," MPRA Paper 11862, University Library of Munich, Germany.
- Michael Taylor & Marc Quintyn & Eva H. G. HÃ¼pkes, 2005. "The Accountability of Financial Sector Supervisors: Principles and Practice," IMF Working Papers 05/51, International Monetary Fund.
- Dirk Schoenmaker, 1992. "Institutional Separation between Supervisory and Monetary Agencies," FMG Special Papers sp52, Financial Markets Group.
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