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From Supervision to Resolution: Next Steps on the Road to European Banking Union

Author

Listed:
  • Nicolas Veron

    (Peterson Institute for International Economics)

  • Guntram B. Wolff

    (Bruegel)

Abstract

Special resolution regimes for banks and systemically important financial institutions are an attractive alternative to both insolvency and public bailouts and have a compelling track record. The European Council has outlined a policy sequence of three successive steps including the Single Supervisory Mechanism (SSM), the Bank Recovery and Resolution (BRR) Directive and the operational framework for direct recapitalizations, and the Single Resolution Mechanism (SRM). Implementing this sequence will involve a complex balancing of short-term, medium-term, and long-term objectives. The creation of the SRM will be a key milestone and should take place as early as possible.

Suggested Citation

  • Nicolas Veron & Guntram B. Wolff, 2013. "From Supervision to Resolution: Next Steps on the Road to European Banking Union," Policy Briefs PB13-5, Peterson Institute for International Economics.
  • Handle: RePEc:iie:pbrief:pb13-5
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Jean Pisani-Ferry & André Sapir & Guntram B. Wolff, . "EU-IMF assistance to euro area countries- an early assessment," Blueprints, Bruegel, number 779, December.
    2. repec:spo:wpecon:info:hdl:2441/f6h8764enu2lskk9p4srjesb4 is not listed on IDEAS
    3. Andrei HREBENCIUC, 2017. "Banking Union framework and the stability of the European Banking sector," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(1(610), S), pages 291-298, Spring.
    4. repec:hal:spmain:info:hdl:2441/144pedpca18ff8v7fh3tvnp99m is not listed on IDEAS
    5. Maylis Avaro & Henri Sterdyniak, 2014. "Banking union: a solution to the euro zone crisis?," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(1), pages 193-241.
    6. Steven Rosefielde & Yiyi Liu, 2018. "Local Public Debt Management: Lessons From Greece In Inclusive Economic Perspective," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 63(04), pages 967-980, September.
    7. repec:hal:wpspec:info:hdl:2441/f6h8764enu2lskk9p4srjesb4 is not listed on IDEAS
    8. Edwin M. Truman, 2013. "Asian and European Financial Crises Compared," Working Paper Series WP13-9, Peterson Institute for International Economics.
    9. Nicolas Véron, 2013. "A realistic bridge towards European banking union," Policy Contributions 783, Bruegel.
    10. Trichet, Jean-Claude, 2013. "International policy coordination in the Euro area: Toward an economic and fiscal federation by exception," Journal of Policy Modeling, Elsevier, vol. 35(3), pages 473-481.
    11. Jörg Bibow, 2013. "Lost at Sea: The Euro Needs a Euro Treasury," IMK Studies 35-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    12. Zsolt Darvas & Guntram B. Wolff, 2013. "Should Non-Euro Area Countries Join the Single Supervisory Mechanism?," DANUBE: Law and Economics Review, European Association Comenius - EACO, issue 2, pages 141-163, June.
    13. repec:hal:spmain:info:hdl:2441/f6h8764enu2lskk9p4srjesb4 is not listed on IDEAS
    14. Arnould, Guillaume & Dehmej, Salim, 2016. "Is the European banking system robust? An evaluation through the lens of the ECB׳s Comprehensive Assessment," International Economics, Elsevier, vol. 147(C), pages 126-144.
    15. Andrei HREBENCIUC, 2017. "Banking Union framework and the stability of the European Banking sector," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(1(610), S), pages 291-298, Spring.
    16. Reint Gropp, 2014. "Discussion of Correa, Lee, Sapriza, and Suarez," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(s1), pages 123-127, February.

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