Resolution and Insolvency of Banks and Financial Institutions

by Michael Schillig

Overview

This book provides a detailed analysis and critical assessment of the EU and US resolution regimes for banks and financial institutions on a comparative basis.

The book analyses the EU legal framework under the Bank Recovery and Resolution Directive, and considers the challenges in national implementation through the two largest economies within the EU, Germany and the UK. The very influential laws of the US, (Securities Investor Protection Act 1970, and the Wall Street Reform and Consumer Protection Act: Dodd-Franck) are used as a comparative reference point.

Through analysis of the new EU framework and of the more mature system in the US, the book considers whether and to what extent the EU framework and national regimes contribute to ensuring resolvability of financial institutions, how their efficacy may be increased with a view, in particular, to the resolution of cross border groups, and what the future may hold, especially in respect of a single European resolution authority.

Product Details

ISBN-13:	9780198703587
Publisher:	Oxford University Press
Publication date:	05/10/2016
Pages:	576
Product dimensions:	6.80(w) x 9.80(h) x 1.40(d)

About the Author

Michael Schillig, Reader in International Commercial and Financial Law, Dickson Poon School of Law, King's College London

Dr Michael Schillig is Reader in International Commercial and Financial Law at The Dickson Poon School of Law, King's College London. Michael read law at the University of Erlangen-Nuremberg, obtained his LL.M. from King's College London and his Dr.iur. from Humboldt University Berlin. Michael's research interests lie broadly in the areas of transnational, European and comparative commercial law with particular emphasis on contract, company and corporate insolvency law. He has published widely in these areas.

Table of Contents

Part I: Crisis Management in Context1. Financial Reform after the Crisis: An Overview2. Financial Stability, Systemic Risk and Taxpayers' Money – The Rationale for a Special Resolution Regime3. Banking Sector and Corporate Structures - the Scope of the Recovery and Resolution Frameworks4. Judicial ReviewPart II: Preparation and Prevention5. Institutional Architecture6. Recovery and Resolution Planning7. Early InterventionPart III: Resolution Tools and Powers8. Overview and General Preconditions9. Private Sector Transfer, Bridge Bank and Asset Separation10. Bail-in/Debt Write Down11. Deposit Insurance and Resolution FundingPart IV: Bank Insolvency Procedures12. Resolution and Corporate Insolvency13. Corporate Rescue and Reorganisation14. Winding Up and LiquidationPart V: The International Dimension15. The International Dimension - Cross-Border Groups