Research Handbook on State Aid in the Banking Sector
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Research Handbook on State Aid in the Banking Sector

Edited by François-Charles Laprévote, Joanna Gray and Francesco De Cecco

The Research Handbook on State Aid in the Banking Sector brings together experts in state aid and in financial regulation, drawn from legal academia, legal practice, economics, and from the EU and EEA institutions to shed light on this relationship. The editors and expert contributors do this by elucidating key concepts that underpin the application of state aid law to banks, and by considering specific aspects of the interface between state aid and financial regulation. The Research Handbook's analysis is complemented by a number of key country-based case studies, and by a concluding section which takes stock of the Banking Union’s package of legislative/regulatory reforms and reflects on the possible future role of state aid in this sector.
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Chapter 16: The new regulatory framework for bank resolution

Ginevra Bruzzone, Miriam Cassella and Stefano Micossi

Abstract

This chapter illustrates the reasons which led to the adoption of a regulatory framework for bank resolution in the EU and describes the main features of the BRRD and the SRM. On the whole, the system is well designed. However, some of its features deserve continuing consideration and review. The decision-making procedure for placing a bank under resolution is overly complex. A proper interpretation of the BRRD rules requiring the bail-in of private capital for any measure of support of banks is crucial for the sake of financial stability. The complementary role of State aid control has still to be fine-tuned. A further critical area is the adequacy of the Single Resolution Fund in providing a credible backstop to the SRM.

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