Sciusco, Luigi R.F. --- "Resolution and market infrastructures" [2019] ELECD 1631; in Haentjens, Matthias; Wessels, Bob (eds), "Research Handbook on Cross-Border Bank Resolution" (Edward Elgar Publishing, 2019) 231

Book Title: Research Handbook on Cross-Border Bank Resolution

Editor(s): Haentjens, Matthias; Wessels, Bob

Publisher: Edward Elgar Publishing

Section: Chapter 9

Section Title: Resolution and market infrastructures

Author(s): Sciusco, Luigi R.F.

Number of pages: 29

Abstract/Description:

In order to maintain continuity of critical functions in resolution it is necessary to ensure the parallel continuity of the services that underpin them, including those provided by Financial Market Infrastructures (FMIs). This is particularly relevant from a cross-border perspective given the transnational scope of several FMIs. This chapter analyses the need for ensuring continuous and smooth access to critical FMI services for a bank in resolution; it does not consider the failure of an FMI itself. The author provides some general clues on the cross-border concerns related to access to FMIs for a bank in resolution through a critical analysis of the most authoritative sources on the issue. The chapter leverages the experience of the author in FMIs’ oversight to advise a holistic approach enlarged to the whole ecosystem of FMIs and to suggest the implementation of a resolution management system grounded in an agile regulatory data collection process.