The Need for Special Resolution Regimes for Financial Institutions—The Case of the European Union

Martin Cihak () and Erlend Nier

No 2009/200, IMF Working Papers from International Monetary Fund

Abstract: The global financial crisis has demonstrated weaknesses in resolution regimes for financial institutions around the globe, including in the European Union (EU). This paper considers the principles underlying resolution regimes for financial institutions, and draws out how a well-designed resolution regime can expand the toolset available for crisis management. Introducing, or in some cases expanding the scope, of these regimes is pressing to achieve more effective responses to ongoing financial sector weaknesses across the EU.

Keywords: WP; resolution regime; banking authorities; host country authorities; resolution authority; BNP Paribas (search for similar items in EconPapers)
Pages: 29
Date: 2009-09-01
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