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The need for revised resolution regimes and supervisory arrangements

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  • Ojo, Marianne

Abstract

In October 2010, having drawn crucial lessons fom the Financial Crisis which was triggered in 2007, and whose impact was still evident at the time, the Financial Stability Board Recommendations on systemically important financial institutions „called for an assessment, on the basis of the BCBS Recommendations and the draft FSB Key Attributes of Effective Resolution Regimes (FSB Key Attributes), of national authorities’ capacity to resolve SIFIs under existing resolution regimes and of the legislative and other changes to national resolution regimes and policies needed to accomplish effective resolution.“ As well as attempting to highlight why much greater initiatives and efforts are required in relation to exit mechanisms for failing banks – that is, greater initiatives and efforts than prudential aspects of regulation which embrace capital adequacy procedures, this paper also draws attention to vital steps that could be taken at international level to make cross-border resolutions more effective.

Suggested Citation

  • Ojo, Marianne, 2011. "The need for revised resolution regimes and supervisory arrangements," MPRA Paper 33674, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:33674
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    References listed on IDEAS

    as
    1. Felton, Andrew & Reinhart, Carmen M. (ed.), 2009. "The First Global Financial Crisis of the 21st Century Part II: June–December, 2008," Vox eBooks, Centre for Economic Policy Research, number p199.
    2. Willem H. Buiter, 2008. "Central banks and financial crises," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 495-633.
    3. Erlend Nier, 2009. "Financial Stability Frameworks and the Role of Central Banks: Lessons From the Crisis," IMF Working Papers 2009/070, International Monetary Fund.
    4. Mr. Michael W Taylor & Mr. Marc G Quintyn & Ms. Eva H. G. Hüpkes, 2005. "The Accountability of Financial Sector Supervisors: Principles and Practice," IMF Working Papers 2005/051, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    lender of last resort; special resolution regime; Financial Crisis; liquidation; bankruptcy; systemic risks; living wills; bailing in; resolution procedures; deposit protection; liquidity;
    All these keywords.

    JEL classification:

    • K2 - Law and Economics - - Regulation and Business Law
    • G01 - Financial Economics - - General - - - Financial Crises

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