Full Description
The European legislator has recently proposed the introduction of a completely new regime for crisis management in the banking sector. This legislative initiative, once enacted, will bring about an unprecedented harmonization of European bank insolvency law. On 23 May 2013, the Hazelhoff Centre for Financial Law at Leiden Law School and the Netherlands Association for Comparative and International Insolvency Law (NACIIL) organized a conference on the highly topical theme of recovery and resolution of credit institutions and investment firms. The key question to which answers were sought during this conference was: "Which rules should govern banks in difficulties?" This book contains papers of the speakers to the conference, covering topics such as the requirements for a rescue or recovery plan; bail-in and the position of counter-parties; the rule of law versus authorities discretion; and the treatment of cross-border groups. In addition, a keynote plenary address paper, the reports of the workshops, as well as the report of the plenary discussion have been added.The editors, Matthias Haentjens and Bob Wessels, are professors of Financial Law and International Insolvency Law at Leiden Law School, respectively.
Contents
Part 1 Introduction; 1 Work of International Organizations on Bank Recovery and Resolution: an Overview; Part 2 Recovery Plans; 2 Bank Recovery Plans: Strengths and Weaknesses - How to Make a Boiling Banker Frog Jump; 3 Bank Failure and Pre-emptive Planning; Part 3 Rule of Law v. Authorities Discretion; 4 Does the Directive on the Recovery and Resolution of Credit Institutions Provide Sufficient Fundamental Rights Protection?; 5 Resolution Regimes for Financial Institutions and the Rule of Law; Part 4 Treatment of Cross-Border Groups; 6 Federal Deposit Insurance Corporation and Bank of England Memorandum on Resolving Globally Active Systemically Important Financial Institutions; 7 Resolution of Cross-Border Groups According to the Proposal for a Directive Establishing a Framework for the Recovery and Resolution of Credit Institutions and Investment Firms; Part 5 Bail-in and Counterparties; 8 Bail-in: Some Fundamental Questions; 9 Resolution Tools and Derivatives; Part 6 Reports; 10 Report on Workshop 1: Recovery Plans; 11 Report on Workshop 2: Rule of Law v. Authorities Discretion; 12 Report on Workshop 3: Treatment of Cross-Border Groups; 13 Report on Workshop 4: Bail-in and Counterparties; Part 7; 14 Conference Discussion Report: Valuation and Depositor Preference.
