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Banking Law and Regulation

Banking Law and Regulation (1st edn)

Iris H-Y Chiu and Joanna Wilson
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date: 25 April 2024

p. 60313. Crisis management and resolutionlocked

p. 60313. Crisis management and resolutionlocked

  • Iris ChiuIris ChiuProfessor of Company Law and Financial Regulation, University College London
  •  and Joanna WilsonJoanna WilsonLecturer in Commercial Law, University of Sussex

Abstract

This chapter explores the development of a regulatory regime for crisis management and resolution. The lack of a coherent policy toolkit to deal with bank failures and cross-border bank failure implications in the 2007–9 global financial crisis sets the context for policy reform in bank crisis management and resolution. The regime for bank crisis management and resolution in the UK is found in the Bank Recovery and Resolution Order 2016 and the PRA Rulebook, transposing the European Bank Recovery and Resolution Directive 2014. This regime covers crisis prevention, which refers to advance planning by banks; early intervention by resolution authorities short of resolution; the processes and powers in resolution; safeguards and accountability in resolution; and funding for resolution. The chapter then looks at deposit guarantee schemes as well as cross-border crisis management and resolution.

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