Crisis Management and Resolution for a European Banking System

Alessandro Giustiniani, Wim Fonteyne, Wouter Bossu, Alessandro Gullo, Seán Kerr, Daniel Hardy and Luis Cortavarria-Checkley

No 2010/070, IMF Working Papers from International Monetary Fund

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

Keywords: debt target; debt level; Federal Government debt; debt outlook; fiscal policy behavior; Fiscal stance; Budget planning and preparation; Real interest rates (search for similar items in EconPapers)
Pages: 17
Date: 2010-03-01
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Citations: View citations in EconPapers (18)

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