Cross-Border Resolution of Failed Banks in the European Union after the Crisis: Business as Usual

Journal of Common Market Studies

Volumn 50, Issue 2, 2012, Pages 283-299

  Kudrna, Zdenek ^a  

^a ERICH SCHMID INSTITUTE OF MATERIALS SCIENCE   (Austria)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84856737283     PISSN: 00219886     EISSN: 14685965     Source Type: Journal    
DOI: 10.1111/j.1468-5965.2011.02204.x     Document Type: Article

References (46)

1. Angeloni, I. (2008) 'Testing Times for Global Financial Governance'. Bruegel Essay and Lecture Series 3 (Brussels: Bruegel).
2. Bank for International Settlements (BIS) (2009) Report and Recommendations of the Cross-Border Bank Resolution Group (Basel: BIS).
3. Beck, T., Coyle, D., Dewatripont, M., Freixas, X. and Seabright, P. (2010) Bailing Out the Banks. Reconciling Stability and Competition: An Analysis of State-Supported Schemes for Financial Institutions (London: Centre for Economic Policy Research).
4. Cihak, M. and Decressin, J. (2007) 'The Case for a European Banking Charter'. Working Paper 07/173 (Washington, DC: International Monetary Fund).
5. Cihak, M. and Nier, E. (2009) 'The Need for Special Resolution Regimes for Financial Institutions: The Case of the European Union'. Working Paper 09/200 (Washington, DC: International Monetary Fund).
6. Commission of the European Communities (2009) 'Impact assessment accompanying Communication on an EU framework for cross-border crisis management in the banking sector'. Available at: «».
7. Commission of the European Communities (2010a) 'State aid: latest scoreboard shows reduced use of crisis support to banks'. Available at.
8. Commission of the European Communities (2010b) 'Commission sets out vision for bank resolution funds'. Available at.
9. Commission of the European Communities (2010c) 'Communication on an EU framework for crisis management in the financial sector'. Available at.
10. Danielsson, J. (2010) 'The Saga of Icesave'. Policy Insight 44 (London: Centre for Economic Policy Research).
11. De Larosière, J. (2009) 'Report of the High-Level Group on Cross-Border Financial Supervision'. Available at.
12. Department of Finance (2010) 'Government Statement: Announcement of Joint EU-IMF Programme for Ireland'. Available at.
13. Dermine, J. (2000) 'Bank Mergers in Europe: The Public Policy Issues'. JCMS, Vol. 38, No. 3, pp. 409-25.
14. Drazen, A. and Grilli, V. (1993) 'The Benefit of Crises for Economic Reforms'. American Economic Review, Vol. 83, No. 3, pp. 598-607.
15. Economic and Financial Committee (EFC) (2000) 'Report on Financial Stability (first Brouwer Report)'. Available at.
16. Economic and Financial Committee (EFC) (2001) 'Report on Financial Crisis Management (second Brouwer Report)'. Available at.
17. Economic and Financial Committee (EFC) (2009) 'Lessons from the Financial Crisis for European Financial Stability Arrangements'. Available at.
18. European Central Bank (ECB) (2003) 'Memorandum of Understanding on High-Level Principles of Co-operation between the Banking Supervisors and Central Banks of the European Union in Crisis Management Situations'. Available at.
19. European Central Bank (ECB) (2005) 'Memorandum of Understanding on Co-operation between the Banking Supervisors, Central Banks and Finance Ministries of the European Union in Financial Crisis Situations.' Available at.
20. European Parliament (EP) (2010) 'Regulation of the European Parliament and of the Council establishing a European Supervisory Authority (European Banking Authority) (A7-0166/2010)' (Brussels: European Parliament).
21. Financial Services Authority (FSA) (2009) 'A Regulatory Response to the Global Banking Crisis: Systemically Important Banks and Assessing the Cumulative Impact'. Turner Review Conference Discussion Paper (London: FSA).
22. Financial Stability Board (FSB) (2010) 'Reducing the Moral Hazard Posed by Systemically Important Financial Institutions'. Available at.
23. Fortis (2008) 'Shareholder Circular: November 19, 2008'. Available at.
24. Goodhart, C. and Schoenmaker, D. (2009) 'Fiscal Burden Sharing in Cross-Border Banking Crises'. International Journal of Central Banking, Vol. 5, No. 1, pp. 141-65.
25. Gros, D. (2009) Institution-Building in Action. Available at.
26. Hartmann, P., Maddaloni, A. & Manganelli, S. (2003) 'The Euro-Area Financial System: Structure, Integration and Policy Initiatives'. Working Paper 230 (Brussels: European Central Bank).
27. House of Commons (2009) Banking Crisis: The Impact of the Failure of the Icelandic Banks (London: Treasury Committee Publications).
28. Institute of International Finance (IIF) (2009) Restoring Confidence, Creating Resilience: An Industry Perspective on the Future of International Financial Regulation and the Search for Stability (Washington, DC: IIF).
29. International Monetary Fund (IMF) (2009) An Overview of the Legal, Institutional and Regulatory Framework for Bank Insolvency (Washington, DC: IMF).
30. International Monetary Fund (IMF) (2010) 'Crisis Management and Resolution for a European Banking System'. Working Paper 10/70 (Washington, DC: IMF).
31. Kapstein, E.B. (1989) 'Resolving the Regulator's Dilemma: International Coordination of Banking Regulations'. International Organization, Vol. 43, No. 2, pp. 323-47.
32. Laeven, L.A. and Valencia, F.V. (2008) 'Systemic Banking Crises: A New Database'. Working Paper 08/224 (Washington, DC: International Monetary Fund).
33. Lannoo, K. (2011) 'The Forest of Basel III has Too Many Trees'. CEPS commentary (Brussels: Centre for European Policy Studies).
34. Nyberg, P. (2007) 'Getting the End-Game Expectations Right'. In Castren, O., Caviglia, G. and Teixeira, P.G. (eds) Simulating Financial Instability (Frankfurt: European Central Bank).
35. Pisani-Ferry, J. and Sapir, A. (2010) 'Banking Crisis Management in the EU: An Early Assessment'. Economic Policy, Vol. 25, No. 62, pp. 341-73.
36. Posner, E. and Veron, N. (2010) 'The EU and Financial Regulation: Power without Purpose?' Journal of European Public Policy, Vol. 17, No. 3, pp. 400-15.
37. Rodrik, D. (1996) 'Understanding Economic Policy Reform'. Journal of Economic Literature, Vol. 34, No. 1, pp. 9-41.
38. Schoenmaker, D. and Oosterloo, S. (2008) 'Financial Supervision in Europe: A Proposal for a New Architecture'. In Watson, M. and Jonung, L. (eds) Building the Financial Foundations of the Euro: Experiences and Challenges (London: Routledge).
39. Speyer, B. and Walter, J. (2009) 'Why Europe Must Create a Strong Financial Watchdog'. Europe's World, Vol. 11. Available at.
40. Strouzas, P. (2007) 'EU Financial Crisis Management Arrangements from a Central Banking Perspective and the Eurosystem Financial Crisis Simulation Exercise'. In Castren, O., Caviglia, G. and Teixeira, P.G. (eds) Simulating Financial Instability (Frankfurt: European Central Bank).
41. Unicredit (2009) 'Cross-Border Banking in Europe: What Regulation and Supervision?' Available at.
42. Van den Spiegel, F. (2008) 'Coordination of Supervision of Financial Groups'. Presentation at the Roundtable on the Review of the Financial Conglomerates Directive, Brussels, 8 September.
43. Veron, N. (2007) 'Is Europe Ready for a Major Banking Crisis'. Bruegel Policy Brief 3 (Brussels: Bruegel).
44. Vives, X. (2001) 'Restructuring Financial Regulation in the European Monetary Union'. Journal of Financial Services Research, Vol. 19, No. 1, pp. 57-82.
45. Walter, N. and Bergheim, S. (2008) ECB Objectives and Tasks: Price Stability vs. Lender of Last Resort (Frankfurt: Deutsche Bank Research).
46. Wood, D. (2005) Governing Global Banking: The Basel Committee and the Politics of Financial Globalization (Aldershot: Ashgate).