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来源类型 | CEPS Policy Briefs |
规范类型 | 简报 |
Bail-in Provisions in State Aid and Resolution Procedures: Are they consistent with systemic stability? | |
Stefano Micossi; Ginevra Bruzzone; Miriam Cassella | |
发表日期 | 2014-05-21 |
出版年 | 2014 |
语种 | 英语 |
摘要 | This CEPS Policy Brief examines the provisions for bail-in in the European Union – that is, the principle whereby any public measure to recapitalise a bank with insufficient prudential capital must be preceded by a write-down or conversion into equity of creditors’ claims – in state aid policies and in the new resolution framework for failing banks, with two aims: i) to assess whether and how they are coordinated and ii) more importantly, whether they address satisfactorily the question of systemic stability that may arise when investors fear that creditors’ claims are likely to be bailed-in in a bank crisis. The issue is especially relevant in the present context, as the comprehensive assessment exercise underway for EU banks falling under the direct supervision of the European Central Bank may lead supervisors to require substantial capital injections simultaneously for many of the banks involved, possibly shaking investors’ confidence across EU banking markets. Stefano Micossi is Director General of Assonime, Professor at the College of Europe and a member of the CEPS Board of Directors; Ginevra Bruzzone is Deputy Director General of Assonime; and Miriam Cassella is Legal Officer in Assonime Directorate for Competition and Regulation. This paper was prepared for the conference on “Bearing the losses from bank and sovereign default in the Eurozone”, organised by Franklin Allen, Elena Carletti and Joanna Gray at the European University Institute, Villa Schifanoia, Florence, 24 April 2014. |
主题 | Economy and Finance |
URL | https://www.ceps.eu/publications/bail-provisions-state-aid-and-resolution-procedures-are-they-consistent-systemic |
来源智库 | Centre for European Policy Studies (Belgium) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/62396 |
推荐引用方式 GB/T 7714 | Stefano Micossi,Ginevra Bruzzone,Miriam Cassella. Bail-in Provisions in State Aid and Resolution Procedures: Are they consistent with systemic stability?. 2014. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
PB%20318%20SM%20et%2(224KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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