Edited by Matthias Haentjens and Bob Wessels
Chapter 20: Germany
This chapter outlines the development of the legal, regulatory and institutional framework that governs the treatment of failing banks in Germany. Based on a description of the pre-crisis position it provides an overview of the stabilization measures put in place during the crisis years. The stabilization framework was replaced in 2011 by a resolution regime that relied on administrative powers to effectuate the transfer of systemically important functions in order to insulate such functions from the adverse effects of a subsequent failure of the affected institution. Resolution finance was to be provided by an industry-financed Restructuring Fund. The chapter closes with a description of the early stages of the process to implement the Bank Recovery and Resolution Directive (BRRD) and to adopt it to the Single Resolution Mechanism (SRM).
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