Home
| Databases
| WorldLII
| Search
| Feedback
Edited Legal Collections Data |
Book Title: The European Banking Union and the Role of Law
Editor(s): Lo Schiavo, Gianni
Publisher: Edward Elgar Publishing
ISBN: 9781788972017
Section: Chapter 11
Section Title: The SSM and the prudential regime of non-performing loans
Author(s): Miglionico, Andrea
Number of pages: 18
Abstract/Description:
The Single Resolution Mechanism is broadly congruent with the Single Supervisory Mechanism, and is empowered to take resolution action in respect of banks throughout the Euro area. It wields the full set of resolution powers created by the Bank Resolution and Recovery Directive, including the power to bail in debt and to write down capital instruments without compensation. However resolution remains an exceptional remedy –recent bank failures have been dealt with through national member state insolvency regimes, on the basis that the banks concerned were not systemic. The Single Resolution Board also controls the single resolution fund – however its power to use this fund is subject to significant restrictions, and it remains to be seen how it can be used in practice.
AustLII:
Copyright Policy
|
Disclaimers
|
Privacy Policy
|
Feedback
URL: http://www.austlii.edu.au/au/journals/ELECD/2019/531.html