Research Handbook on Crisis Management in the Banking Sector
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Research Handbook on Crisis Management in the Banking Sector

Edited by Matthias Haentjens and Bob Wessels

In this timely Handbook, over 30 prominent academics, practitioners and regulators from across the globe provide in-depth insights into an area of law that the recent global financial crisis has placed in the spotlight: bank insolvency law.
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Chapter 20: Germany

Alexander Bornemann


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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