The Single Resolution Mechanism: Authorities and Proceedings

Olina Capolino ()
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Olina Capolino: Banca d’Italia’s Legal Services Directorate

Chapter 11 in The Palgrave Handbook of European Banking Union Law, 2019, pp 247-270 from Springer

Abstract: Abstract The chapter gives an overview of the Single Resolution Mechanism as a complex and partial response to the problems of banking crises. The allocation of responsibilities and the decision-making process are centred around the Single Resolution Board, which acts under the control of the European Commission and the Council. National Resolution Authorities have extensive powers for the resolution of banks falling within their responsibility, but they have merely an executive function when national ailing banks fall under the competence of the Single Resolution Board. When the public interest required for the adoption of a resolution scheme is not deemed to be present, ordinary national insolvency proceedings apply, which are not harmonised and do not allow the use of the Single Resolution Fund. In this context, the chapter analyses the initial experiences under the new European rules and the interaction with State aid rules.

Keywords: Banking Union; Single Resolution Mechanism; Single Resolution Board; National insolvency proceedings; Public interest test; State aid (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-13475-4_11

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DOI: 10.1007/978-3-030-13475-4_11

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