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The SSM and the prudential regime of non-performing loans

In: The European Banking Union and the Role of Law

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  • Andrea Miglionico

Abstract

The Single Resolution Mechanism is broadly congruent with the Single Supervisory Mechanism, and is empowered to take resolution action in respect of banks throughout the Euro area. It wields the full set of resolution powers created by the Bank Resolution and Recovery Directive, including the power to bail in debt and to write down capital instruments without compensation. However resolution remains an exceptional remedy –recent bank failures have been dealt with through national member state insolvency regimes, on the basis that the banks concerned were not systemic. The Single Resolution Board also controls the single resolution fund – however its power to use this fund is subject to significant restrictions, and it remains to be seen how it can be used in practice.

Suggested Citation

  • Andrea Miglionico, 2019. "The SSM and the prudential regime of non-performing loans," Chapters, in: Gianni Lo Schiavo (ed.), The European Banking Union and the Role of Law, chapter 11, pages 197-214, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:18485_11
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    Keywords

    Economics and Finance; Law - Academic;

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