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Cross-border bank resolution

Author

Listed:
  • Viñals, José

    (International Monetary Fund)

  • Hagan, Sean

    (International Monetary Fund)

Abstract

Cross-border banking has grown rapidly during the past couple of decades and has brought with it both benefits and costs. The recent financial crisis made it clear that, in the event of a cross-border bank failure, authorities have strong incentives to protect the stability of their own financial systems, potentially at the expense of global financial stability. In response, the international regulatory community has sought to develop a framework to facilitate globally efficient outcomes of cross-border bank resolution. But orderly cross-border resolution is still far from assured. Further alignment of interests and incentives among jurisdictions is needed, as are greater efforts to develop cooperative cross-border resolution strategies. Key priorities are expediting legal reforms at the national level to strengthen resolution frameworks and the powers of resolution authorities, enhancing banks’ loss-absorbing capacity in resolution and strengthening cross-border cooperation in recovery and resolution planning.

Suggested Citation

  • Viñals, José & Hagan, Sean, 2015. "Cross-border bank resolution," Journal of Financial Perspectives, EY Global FS Institute, vol. 3(2), pages 25-30.
    • Handle: RePEc:ris:jofipe:0070
    as

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    More about this item

    Keywords

    Cross-border banking; financial crisis; regulations;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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