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Crisis Management and Resolution for a European Banking System

Author/Editor: Fonteyne, Wim | Bossu, Wouter | Cortavarria, Luis | Giustiniani, Alessandro | Gullo, Alessandro | Hardy, Daniel C. L. | Kerr, Sean
Authorized for Distribution: March 1, 2010
Electronic Access: Free Full Text (PDF file size is 1,224KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: This paper proposes an integrated crisis management and resolution framework for the EU's single banking market. It comprises a European Resolution Authority (ERA), armed with the mandate and the tools to deal cost-effectively with failing systemic cross-border banks, and is designed to address many fundamental operational and incentive problems. It also seeks to reduce moral hazard and better protect countries against the risk of twin fiscal-financial crises by detaching banks from government budgets. The ERA would be most effective if it were twinned or combined with a European Deposit Insurance and Resolution Fund.
 
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Series: Working Paper No. 10/70
Subject(s): Bank reforms | Bank resolution | Bank supervision | Banking crisis | Banking systems | Economic integration | European Monetary System | Financial crisis | Financial stability | Global Financial Crisis 2008-2009 | Risk management
Author's keyword(s): Banking | financial stability | financial integration | financial crises | bank supervision | crisis management | crisis resolution | insolvency | European Union
 
English  
    Published:   March 1, 2010        
            Format:   Paper
    Stock No:   WPIEA2010070   Pages:   99
         
       
     
Please address any questions about this title to publications@imf.org.