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Crisis Management and Resolution for a European Banking System

Author

Listed:
  • Alessandro Giustiniani
  • Mr. Wim Fonteyne
  • Wouter Bossu
  • Alessandro Gullo
  • Seán Kerr
  • Mr. Daniel C Hardy
  • Luis Cortavarria-Checkley

Abstract

This paper proposes an integrated crisis management and resolution framework for the EU's single banking market. It comprises a European Resolution Authority (ERA), armed with the mandate and the tools to deal cost-effectively with failing systemic cross-border banks, and is designed to address many fundamental operational and incentive problems. It also seeks to reduce moral hazard and better protect countries against the risk of twin fiscal-financial crises by detaching banks from government budgets. The ERA would be most effective if it were twinned or combined with a European Deposit Insurance and Resolution Fund

Suggested Citation

  • Alessandro Giustiniani & Mr. Wim Fonteyne & Wouter Bossu & Alessandro Gullo & Seán Kerr & Mr. Daniel C Hardy & Luis Cortavarria-Checkley, 2010. "Crisis Management and Resolution for a European Banking System," IMF Working Papers 2010/070, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2010/070
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    Citations

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    Cited by:

    1. Nicolas Véron & Stephane Rottier, 2010. "Not all financial regulation is global," Policy Briefs 431, Bruegel.
    2. Corbet, Shaen & Larkin, Charles, 2017. "Has the uniformity of banking regulation within the European Union restricted rather than encouraged sectoral development?," International Review of Financial Analysis, Elsevier, vol. 53(C), pages 48-65.
    3. Beck, T.H.L. & Todorov, R.I. & Wagner, W.B., 2011. "Bank Supervision Going Global? A Cost-Benefit Analysis (Replaced by CentER DP 2012-059)," Discussion Paper 2011-127, Tilburg University, Center for Economic Research.
    4. Lukasz Prorokowski, 2013. "Lessons from financial crisis contagion simulation in Europe," Studies in Economics and Finance, Emerald Group Publishing Limited, vol. 30(2), pages 159-188, May.
    5. Charles Goodhart, 2010. "The changing role of central banks," BIS Working Papers 326, Bank for International Settlements.
    6. Rughoo, Aarti & Sarantis, Nicholas, 2014. "The global financial crisis and integration in European retail banking," Journal of Banking & Finance, Elsevier, vol. 40(C), pages 28-41.
    7. Beck, T.H.L. & Todorov, R.I. & Wagner, W.B., 2012. "Supervising Cross-Border Banks : Theory, Evidence and Policy (Revised version of EBC Discussion Paper 2011-033)," Other publications TiSEM dfd16cc4-fe7a-4c89-997f-6, Tilburg University, School of Economics and Management.
    8. Egorova, Olga (Егорова, Ольга) & Kadoshnikova, M.E. (Кадошникова, М.Е.), 2016. "Basic Principles of Crisis Management and Crisis Management Mechanisms and Oversight [Основные Принципы Антикризисного Управления И Механизмы Антикризисного Регулирования И Надзора]," Working Papers 2047, Russian Presidential Academy of National Economy and Public Administration.
    9. Iman van Lelyveld & Marco Spaltro, 2011. "Coordinating Bank Failure Costs and Financial Stability," DNB Working Papers 306, Netherlands Central Bank, Research Department.
    10. Beck, T.H.L. & Todorov, R.I. & Wagner, W.B., 2012. "Supervising Cross-Border Banks : Theory, Evidence and Policy (Revised version of CentER Discussion Paper 2011-127)," Other publications TiSEM 1aedf83e-1ca5-44b5-bc6d-d, Tilburg University, School of Economics and Management.
    11. Nicolas Veron, 2013. "A Realistic Bridge Towards European Banking Union," Policy Briefs PB13-17, Peterson Institute for International Economics.
    12. Roszkowska Paulina & Prorokowski Łukasz, 2013. "Model of Financial Crisis Contagion: A Survey-based Simulation by Means of the Modified Kaplan-Meier Survival Plots," Folia Oeconomica Stetinensia, Sciendo, vol. 13(1), pages 22-55, December.
    13. Agnieszka Trzcinska, 2015. "The Impact of the New Resolution Regime on Public Support to Banks (Udzial sektora publicznego w kosztach ratowania bankow w swietle nowych przepisow w zakresie restrukturyzacji i uporzadkowanej likwi," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 13(55), pages 120-133.
    14. Nicolas Véron & Morris Goldstein, 2011. "Too big to fail- the transatlantic debate," Working Papers 495, Bruegel.
    15. Beck, T.H.L. & Todorov, R.I. & Wagner, W.B., 2011. "Bank Supervision Going Global? A Cost-Benefit Analysis (Replaced by EBC DP 2012-015)," Other publications TiSEM 2c7d7637-bd3a-4a43-beac-3, Tilburg University, School of Economics and Management.

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