Luxembourg: Financial Sector Assessment Program: Technical Note-Managing Problem Banks and Systemic Banking Crises

International Monetary Fund

No 2017/259, IMF Staff Country Reports from International Monetary Fund

Abstract: This Technical Note analyzes the bank failure mitigation and resolution regime, as well as arrangements for managing a financial crisis, in Luxembourg. The landscape for managing problem banks in Luxembourg has changed fundamentally in recent years. As part of the euro area, Luxembourg is now part of a banking union in which the European Central Bank (ECB) has exclusive authority to directly supervise significant institutions and the Commission for the Supervision of the Financial Sector (CSSF), under the oversight of the ECB, directly supervises less significant institutions. It is recommended that the CSSF increase staffing for resolution and pay attention to potential conflicts of interest in the decision-making process related to supervisory and deposit insurance functions.

Keywords: ISCR; CR; government; bank; Commission de Surveillance du Secteur Financier; Luxemburg; national competent authority; judicial review; BNP Paribas; organic law; insolvency regime; terms and conditions; judicial review regime in Luxembourg; SRB policy; bridge bank tool; confidentiality regime; BU authorities; EU resolution authority; judicial review regime; Bank resolution framework; Bank resolution; Bridge bank; Crisis resolution; Deposit insurance; Global (search for similar items in EconPapers)
Pages: 47
Date: 2017-08-28
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=45208 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2017/259

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().