Cross-Border Recognition of Foreign Resolution Actions: The Statutory Regime in the United Kingdom

Shalina Daved (), Clare Merrifield () and Michael Salib ()
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Shalina Daved: Bank of England
Clare Merrifield: Bank of England
Michael Salib: Bank of England

Chapter Chapter 14 in Commercial Banking in Transition, 2024, pp 283-304 from Palgrave Macmillan

Abstract: Abstract When a bank fails, the relevant authorities may have to place the firm into a resolution procedure to ensure it fails in an orderly way. Given the cross-border nature of banking operations, it may be necessary for the authority to obtain “recognition” of its actions by authorities in other jurisdictions. This chapter provides an in-depth overview of the UK’s statutory recognition regime of foreign resolution actions: why it is important; when recognition will be granted or refused; and the formalities and practicalities of the recognition process.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-031-45289-5_14

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DOI: 10.1007/978-3-031-45289-5_14

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