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At the End of the Waterfall – Resolvability of Central Counterparties

Péter Gárdos ()
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Péter Gárdos: Eötvös Loránd University Department for Civil Law, Budapest, Hungary

Credit and Capital Markets, 2021, vol. 54, issue 4, 505-531

Abstract: After the prudential requirements introduced by EMIR in 2012, the European Union took a further step when it adopted a regulation in 2021 on the framework for the recovery and resolution of central counterparties. The regulation is based on the bank recovery and resolution directive of 2014. This paper provides a critical overview of the new regulation by focusing on the question of whether the bank resolution tools are useful and effective in the case of central counterparty resolutions.

JEL-codes: G23 G33 K23 (search for similar items in EconPapers)
Date: 2021
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Handle: RePEc:kuk:journl:v:54:y:2021:i:4:p:505-531