Crisis Management and Resolution for a European Banking System

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...

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Bibliographic Details
Main Author: Giustiniani, Alessandro
Other Authors: Bossu, Wouter, Cortavarria-Checkley, Luis, Fonteyne, Wim
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2010
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Crisis Management and Resolution for a European Banking System  |c Alessandro Giustiniani, Wim Fonteyne, Wouter Bossu, Alessandro Gullo, Seán Kerr, Daniel Hardy, Luis Cortavarria-Checkley 
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653 |a Economics 
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653 |a Finance 
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653 |a Public finance & taxation 
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653 |a Debts, Public 
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653 |a Economics of specific sectors 
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653 |a Real interest rates 
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520 |a 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