Resolution and Insolvency of Banks and Financial Institutions

ISBN : 9780198703587

Michael Schillig
576 Pages
171 x 246 mm
Pub date
Mar 2016
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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.


Part I: Crisis Management in Context
1 Financial Reform after the Crisis: An Overview
2 Financial Stability, Systemic Risk and Taxpayers' Money - The Rationale for a Special Resolution Regime
3 Banking Sector and Corporate Structures - the Scope of the Recovery and Resolution Frameworks
4 Judicial Review

Part II: Preparation and Prevention
5 Institutional Architecture
6 Recovery and Resolution Planning
7 Early Intervention

Part III: Resolution Tools and Powers
8 Overview and General Preconditions
9 Private Sector Transfer, Bridge Bank and Asset Separation
10 Bail-in/Debt Write Down
11 Deposit Insurance and Resolution Funding

Part IV: Bank Insolvency Procedures
12 Resolution and Corporate Insolvency
13 Corporate Rescue and Reorganisation
14 Winding Up and Liquidation

Part V: The International Dimension
15 The International Dimension - Cross-Border Groups

About the author: 

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.

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