From Supervision to Resolution: Next Steps on the Road to European Banking Union
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.
|Date of creation:||Feb 2013|
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References listed on IDEAS
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- Adam S. Posen & Nicolas Veron, 2009.
"A Solution for Europe's Banking Problem,"
PB09-13, Peterson Institute for International Economics.
- Adam Posen & Nicolas Véron, 2009. "A solution for Europe's banking problem," Policy Briefs 310, Bruegel.
- 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.
- 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)