The Single Resolution Mechanism

Angelo Baglioni

Chapter Chapter 5 in The European Banking Union, 2016, pp 81-109 from Palgrave Macmillan

Abstract: Abstract This chapter addresses the second pillar of the banking union, namely the Single Resolution Mechanism (SRM). First, it outlines the main innovations introduced by the BRRD, introducing a new regime for crisis management in the EU. Second, it analyzes the organization and funding sources of the SRM, affecting the euro area. Some controversial issues are discussed, like the bail-in principle, the governance of the SRM, the possible role of the European Stability Mechanism (ESM) as a fiscal backstop, and the interplay between the SRM and the state aid rules. The analysis made in this chapter suggests several lines of reform to improve and complete the current design of the SRM.

Keywords: Resolution; Bail-in; Bank Recovery and Resolution Directive; Resolution Fund; European Stability Mechanism; State aid (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-1-137-56314-9_5

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DOI: 10.1057/978-1-137-56314-9_5

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