IDEAS home Printed from https://ideas.repec.org/a/nbp/nbpbik/v51y2020i5p517-548.html
   My bibliography  Save this article

Banki na progu upadłości – refleksje nad postępowaniem

Author

Listed:
  • Andrzej R. Stopczyński

    (Uniwersytet Łódzki, Wydział Ekonomiczno-Socjologiczny, Instytut Finansów)

Abstract

Koncepcja resolution banków (postępowania z bankami na progu upadłości), zakładająca rozszerzenie odpowiedzialności za niewypłacalność instytucji finansowej na jej wierzycieli, wydawała się praktycznym rozwiązaniem chroniącym państwa przed koniecznością wykorzystania środków publicznych do utrzymania stabilności prywatnego (w większości) sektora bankowego. Podejście to, wzbudzające jednak wiele kontrowersji, przynosi inne zagrożenia, które mogą istotnie utrudnić rozwiązanie problemu upadającego banku. W artykule autor koncentruje się na ocenie wiarygodności mechanizmów wprowadzonych przez regulacje europejskie. Autor podejmuje próbę odpowiedzi na pytanie, czy regulacje europejskie ograniczają pokusę nadużycia w sektorze bankowym oraz czy mogą być skuteczne w poszczególnych segmentach sektora bankowego. Głównym przedmiotem badań jest znaczenie dyscypliny rynkowej w planowaniu i przeprowadzeniu resolution banku oraz wpływ zakresu umorzeń zobowiązań banku na poziom tej dyscypliny. W oparciu o analizę przypadków resolution w reżimie Dyrektywy BRRD sformułowane zostały wnioski dotyczące możliwości przeprowadzenia potencjalnych procesów resolution w odniesieniu do różnych grup banków w Polsce.

Suggested Citation

  • Andrzej R. Stopczyński, 2020. "Banki na progu upadłości – refleksje nad postępowaniem," Bank i Kredyt, Narodowy Bank Polski, vol. 51(5), pages 517-548.
    • Handle: RePEc:nbp:nbpbik:v:51:y:2020:i:5:p:517-548
    as

    Download full text from publisher

    File URL: https://bankikredyt.nbp.pl/content/2020/05/BIK_05_2020_03.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Tobias H. Tröger, 2020. "Why MREL won’t help much: minimum requirements for bail-in capital as an insufficient remedy for defunct private sector involvement under the European bank resolution framework," Journal of Banking Regulation, Palgrave Macmillan, vol. 21(1), pages 64-81, March.
    2. Marc Sanchez-Roger & María Dolores Oliver-Alfonso & Carlos Sanchís-Pedregosa, 2018. "Bail-In: A Sustainable Mechanism for Rescuing Banks," Sustainability, MDPI, vol. 10(10), pages 1-18, October.
    3. Acharya, Viral V. & Yorulmazer, Tanju, 2007. "Too many to fail--An analysis of time-inconsistency in bank closure policies," Journal of Financial Intermediation, Elsevier, vol. 16(1), pages 1-31, January.
    4. Pancotto, Livia & ap Gwilym, Owain & Williams, Jonathan, 2019. "The European Bank Recovery and Resolution Directive: A market assessment," Journal of Financial Stability, Elsevier, vol. 44(C).
    5. Mrs. Oana M Croitoru & Mr. Marc C Dobler & Johan Molin, 2018. "Resolution Funding: Who Pays When Financial Institutions Fail?," IMF Technical Notes and Manuals 2018/001, International Monetary Fund.
    6. Asli Demirgüç-Kunt & Ms. Enrica Detragiache, 2000. "Does Deposit Insurance Increase Banking System Stability?," IMF Working Papers 2000/003, International Monetary Fund.
    7. Black, Fischer & Cox, John C, 1976. "Valuing Corporate Securities: Some Effects of Bond Indenture Provisions," Journal of Finance, American Finance Association, vol. 31(2), pages 351-367, May.
    8. Viral V. Acharya & Tanju Yorulmazer, 2008. "Cash-in-the-Market Pricing and Optimal Resolution of Bank Failures," The Review of Financial Studies, Society for Financial Studies, vol. 21(6), pages 2705-2742, November.
    9. Benczur, Peter & Cannas, Giuseppina & Cariboni, Jessica & Di Girolamo, Francesca & Maccaferri, Sara & Petracco Giudici, Marco, 2017. "Evaluating the effectiveness of the new EU bank regulatory framework: A farewell to bail-out?," Journal of Financial Stability, Elsevier, vol. 33(C), pages 207-223.
    10. Klimek, Peter & Poledna, Sebastian & Doyne Farmer, J. & Thurner, Stefan, 2015. "To bail-out or to bail-in? Answers from an agent-based model," Journal of Economic Dynamics and Control, Elsevier, vol. 50(C), pages 144-154.
    11. Dewatripont, Mathias, 2014. "European banking: Bailout, bail-in and state aid control," International Journal of Industrial Organization, Elsevier, vol. 34(C), pages 37-43.
    12. Giuseppe Boccuzzi & Riccardo De Lisa, 2017. "Does Bail-in Definitely Rule out Bailout?," Journal of Financial Management, Markets and Institutions, Società editrice il Mulino, issue 1, pages 93-110, June.
    13. Demirguc-Kunt, Asli & Detragiache, Enrica, 2002. "Does deposit insurance increase banking system stability? An empirical investigation," Journal of Monetary Economics, Elsevier, vol. 49(7), pages 1373-1406, October.
    14. Franklin Allen & Elena Carletti & Robert Marquez, 2011. "Credit Market Competition and Capital Regulation," The Review of Financial Studies, Society for Financial Studies, vol. 24(4), pages 983-1018.
    15. Souza, Sergio Rubens Stancato de & Silva, Thiago Christiano & Almeida, Carlos Eduardo de, 2019. "Bailing in Banks: costs and benefits," Journal of Financial Stability, Elsevier, vol. 45(C).
    16. Laeven, Luc, 2019. "The regulatory response to the sovereign-bank nexus," Global Finance Journal, Elsevier, vol. 39(C), pages 17-20.
    17. Anginer, D. & Demirguc-Kunt, Asli & Huizinga, H.P. & Ma, K., 2014. "Corporate Governance and Bank Insolvency Risk : International Evidence," Other publications TiSEM 3da1df9f-1cbe-4a14-91be-f, Tilburg University, School of Economics and Management.
    18. Fecht, Falko & Füss, Roland & Rindler, Philipp B., 2014. "Corporate Transparency and Bond Liquidity," Working Papers on Finance 1404, University of St. Gallen, School of Finance.
    19. Benjamin Bernard & Agostino Capponi & Joseph E. Stiglitz, 2022. "Bail-Ins and Bailouts: Incentives, Connectivity, and Systemic Stability," Journal of Political Economy, University of Chicago Press, vol. 130(7), pages 1805-1859.
    20. Liang, H. & Marquis, C. & Renneboog, L.D.R. & Li Sun, Sunny, 2014. "Speaking of Corporate Social Responsibility," Other publications TiSEM 92732b13-3daf-45d1-99a1-1, Tilburg University, School of Economics and Management.
    21. Jan Bena & Kai Li, 2014. "Corporate Innovations and Mergers and Acquisitions," Journal of Finance, American Finance Association, vol. 69(5), pages 1923-1960, October.
    22. Emilios Avgouleas & Charles Goodhart, 2015. "Critical Reflections on Bank Bail-ins," Journal of Financial Regulation, Oxford University Press, vol. 1(1), pages 3-29.
    23. Thi QuyVo & Duc Khuong Nguyen & Fredric WilliamSwierczek, 2014. "Corporate performance of privatized firms in Vietnam," Working Papers 2014-240, Department of Research, Ipag Business School.
    24. Barucci, Emilio & Colozza, Tommaso & Milani, Carlo, 2019. "The effect of bank bail-outs in the EU," Journal of International Money and Finance, Elsevier, vol. 95(C), pages 14-26.
    25. Harald A. Benink, 2018. "Raising bank loss absorption capacity through equity capital or bail-in debt," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 10(2), pages 275-280, June.
    26. Leonardo Baccini & Quan Li & Irina Mirkina, 2014. "Corporate Tax Cuts And Foreign Direct Investment," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 33(4), pages 977-1006, September.
    27. Lorenzo Pandolfi, 2018. "Bail-in vs. Bailout: a False Dilemma?," CSEF Working Papers 499, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    28. Thomas Conlon & John Cotter, 2019. "Subordinate Resolution ‐‐ An Empirical Analysis of European Union Subsidiary Banks," Journal of Common Market Studies, Wiley Blackwell, vol. 57(4), pages 857-876, July.
    29. Dongyong Zhang & Stephen Morse & Uma Kambhamptati & Bingjun Li, 2014. "Evolving Corporate Social Responsibility in China," Sustainability, MDPI, vol. 6(11), pages 1-20, November.
    30. Oana M Croitoru & Marc C Dobler & Johan Molin, 2018. "Resolution Funding; Who Pays When Financial Institutions Fail?," IMF Technical Notes and Manuals 2018/01, International Monetary Fund.
    31. Phoebe White & Tanju Yorulmazer, 2014. "Bank resolution concepts, trade-offs, and changes in practices," Economic Policy Review, Federal Reserve Bank of New York, issue Dec, pages 153-173.
    32. DeYoung, Robert & Kowalik, Michal & Reidhill, Jack, 2013. "A theory of failed bank resolution: Technological change and political economics," Journal of Financial Stability, Elsevier, vol. 9(4), pages 612-627.
    33. Jean Dermine, 2013. "Bank Regulations after the Global Financial Crisis: Good Intentions and Unintended Evil," European Financial Management, European Financial Management Association, vol. 19(4), pages 658-674, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lorenzo Pandolfi, 2022. "Bail-in and Bailout: Friends or Foes?," Management Science, INFORMS, vol. 68(2), pages 1450-1468, February.
    2. Giuliana, Raffaele, 2022. "Fluctuating bail-in expectations and effects on market discipline, risk-taking and cost of capital," ESRB Working Paper Series 133, European Systemic Risk Board.
    3. Farmer, J. Doyne & Goodhart, C. A. E. & Kleinnijenhuis, Alissa M., 2021. "Systemic implications of the bail-in design," LSE Research Online Documents on Economics 111903, London School of Economics and Political Science, LSE Library.
    4. Marcella Lucchetta & Michele Moretto & Bruno M. Parigi, 2019. "Optimal bailouts, bank’s incentive and risk," Annals of Finance, Springer, vol. 15(3), pages 369-399, September.
    5. Lorenzo Pandolfi, 2018. "Bail-in vs. Bailout: a False Dilemma?," CSEF Working Papers 499, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    6. Siebenbrunner, Christoph & Hafner-Guth, Martin & Spitzer, Ralph & Trappl, Stefan, 2024. "Assessing the systemic risk impact of bank bail-ins," Journal of Financial Stability, Elsevier, vol. 71(C).
    7. Acharya, Viral V. & Yorulmazer, Tanju, 2007. "Too many to fail--An analysis of time-inconsistency in bank closure policies," Journal of Financial Intermediation, Elsevier, vol. 16(1), pages 1-31, January.
    8. Gao, Jieqiong & Ghosh, Chinmoy, 2024. "The longer-term impact of TARP on banks’ default risk," The Quarterly Review of Economics and Finance, Elsevier, vol. 95(C), pages 346-357.
    9. Beck, Thorsten & De Jonghe, Olivier & Schepens, Glenn, 2013. "Bank competition and stability: Cross-country heterogeneity," Journal of Financial Intermediation, Elsevier, vol. 22(2), pages 218-244.
    10. Shimizu, Katsutoshi & Ly, Kim Cuong, 2017. "Were regulatory interventions effective in lowering systemic risk during the financial crisis in Japan?," Journal of Multinational Financial Management, Elsevier, vol. 41(C), pages 80-91.
    11. Zafer Kanık, 2017. "Rescuing the Financial System: Capabilities, Incentives, and Optimal Interbank Networks," Working Papers 17-17, NET Institute.
    12. Marc J. K. De Ceuster & Nancy Masschelein, 2003. "Regulating Banks through Market Discipline: A Survey of the Issues," Journal of Economic Surveys, Wiley Blackwell, vol. 17(5), pages 749-766, December.
    13. Cutura, Jannic Alexander, 2021. "Debt holder monitoring and implicit guarantees: Did the BRRD improve market discipline?," Journal of Financial Stability, Elsevier, vol. 54(C).
    14. Beck, Thorsten & Radev, Dayen & Schnabel, Isabel, 2020. "Bank Resolution Regimes and Systemic Risk," CEPR Discussion Papers 14724, C.E.P.R. Discussion Papers.
    15. Leanza, Luca & Sbuelz, Alessandro & Tarelli, Andrea, 2021. "Bail-in vs bail-out: Bank resolution and liability structure," International Review of Financial Analysis, Elsevier, vol. 73(C).
    16. Cuadros-Solas, Pedro J. & Salvador, Carlos & Suárez, Nuria, 2021. "Am I riskier if I rescue my banks? Beyond the effects of bailouts," Journal of Financial Stability, Elsevier, vol. 56(C).
    17. Horváth, Bálint L., 2020. "The interaction of bank regulation and taxation," Journal of Corporate Finance, Elsevier, vol. 64(C).
    18. Koetter, Michael & Krause, Thomas & Sfrappini, Eleonora & Tonzer, Lena, 2022. "Completing the European Banking Union: Capital cost consequences for credit providers and corporate borrowers," European Economic Review, Elsevier, vol. 148(C).
    19. Beck, T.H.L. & De Jonghe, O.G. & Schepens, G., 2012. "Bank Competition and Stability : Cross-country Heterogeneity (Revised version of CentER DP 2011-080)," Other publications TiSEM f600cdef-3c8b-4b85-9fed-6, Tilburg University, School of Economics and Management.
    20. Keister, Todd & Mitkov, Yuliyan, 2023. "Allocating losses: Bail-ins, bailouts and bank regulation," Journal of Economic Theory, Elsevier, vol. 210(C).

    More about this item

    Keywords

    przymusowa restrukturyzacja i uporządkowana likwidacja (resolution) banków; dyscyplina rynkowa; koszty niewypłacalności; bail-out; bail-in;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nbp:nbpbik:v:51:y:2020:i:5:p:517-548. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wojciech Burjanek (email available below). General contact details of provider: https://edirc.repec.org/data/nbpgvpl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.