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Measuring the Implementation of the FSB Key Attributes of Effective Resolution Regimes for Financial Institutions in the European Union

Author

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  • Nicholas S. Coleman
  • Andromachi Georgosouli
  • Tara N. Rice

Abstract

There are lingering concerns about the health of European banks and extensive market commentary about whether post-crisis regulatory reforms in Europe have adequately addressed these concerns. In June 2012, European policymakers released the broad outlines of a proposal for a \"European banking union\" to strengthen the banking sector and help assuage concerns of investors and depositors, however, uncertainty remains regarding how the new EU bank resolution regime, the Bank Recovery and Resolution Directive (BRRD), will work in practice. This paper addresses whether the BRRD has fulfilled the requirements of the FSB Key Attributes for Resolution Regimes, which many take to be the gold standard bank resolution framework. We find that the BRRD diverges from the FSB Key Attributes or allows variation at the Member State level in multiple areas. The majority of these variations point to slight inconsistencies with the FSB recommendations. That said, some variations may have a larger impact than others.

Suggested Citation

  • Nicholas S. Coleman & Andromachi Georgosouli & Tara N. Rice, 2018. "Measuring the Implementation of the FSB Key Attributes of Effective Resolution Regimes for Financial Institutions in the European Union," International Finance Discussion Papers 1238, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgif:1238
    DOI: 10.17016/IFDP.2018.1238
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    References listed on IDEAS

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    1. Paolo Giudici & Laura Parisi, 2016. "Bail in or Bail out? The Atlante example from a systemic risk perspective," DEM Working Papers Series 124, University of Pavia, Department of Economics and Management.
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    Cited by:

    1. McNamara, Christian & Mott, Carey & Gupta, Salil & Feldberg, Greg & Metrick, Andrew, 2024. "Survey of Resolution and Restructuring in Europe: Pre- and Post-BRRD," Journal of Financial Crises, Yale Program on Financial Stability (YPFS), vol. 6(1), pages 1-34, March.
    2. 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).

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      More about this item

      Keywords

      FSB Key Attributes; BRRD; European Banks;
      All these keywords.

      JEL classification:

      • G20 - Financial Economics - - Financial Institutions and Services - - - General
      • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
      • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law

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