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

Author

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  • 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
    1. Adam S. Posen & Nicolas Veron, 2009. "A Solution for Europe's Banking Problem," Policy Briefs PB09-13, Peterson Institute for International Economics.
    2. Chiara Angeloni & Guntram B. Wolff, 2012. "Are banks affected by their holdings of government debt?," Working Papers 717, Bruegel.
    3. Jean Pisani-Ferry & André Sapir & Nicolas Véron & Guntram B. Wolff, 2012. "What kind of European banking union?," Policy Contributions 731, Bruegel.
    4. Rishi Goyal & Petya Koeva Brooks & Mahmood Pradhan & Thierry Tressel & Giovanni Dell'Ariccia & Ceyla Pazarbasioglu, 2013. "A Banking Union for the Euro Area," IMF Staff Discussion Notes 13/01, International Monetary Fund.
    5. Jean Pisani-Ferry & Guntram B. Wolff, 2012. "The fiscal implications of a banking union," Policy Briefs 748, Bruegel.
    6. Guntram B. Wolff, 2011. "The Euro area's macroeconomic balancing act," Policy Contributions 555, Bruegel.
    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, November.
    2. repec:agr:journl:v:xxiv:y:2017:i:1(610):p:291-298 is not listed on IDEAS
    3. Jeżowski Mirosław, 2015. "Design and Factors Affecting State Supervision of the Financial Market," Management and Business Administration. Central Europe, De Gruyter Open, vol. 23(1), pages 113-129, March.
    4. Edwin M. Truman, 2013. "Asian and European Financial Crises Compared," Working Paper Series WP13-9, Peterson Institute for International Economics.
    5. Nicolas Véron, 2013. "A realistic bridge towards European banking union," Policy Contributions 783, Bruegel.
    6. 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.
    7. 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.
    8. Jorg Bibow, 2013. "Lost at Sea: The Euro Needs a Euro Treasury," Economics Working Paper Archive wp_780, Levy Economics Institute.
    9. 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.
    10. 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.
    11. Jörg Bibow, 2013. "Lost at Sea:The Euro Needs a Euro Treasury," FMG Special Papers sp227, Financial Markets Group.
    12. 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.
    13. 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.

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