scholarly journals International Environment: Recovery and Resolution Regimes as the Pillar of the Banking Union

2019 ◽  
Vol 65 (2) ◽  
pp. 30-40
Author(s):  
Mejra Festić
Keyword(s):  
Capital Adequacy ◽  
Banking Union ◽  
Negative Effects ◽  
Subordinated Debt ◽  
National Legislation ◽  
Cross Border ◽  
Bank Resolution ◽  
Open Questions ◽  
International Environment

AbstractThe purpose of the article is to present the possible regimes of bank resolution in the euro system and to highlight open questions concerning additional capital buffers and the valuation of assets according to the Bank Recovery and Resolution Directive (BRRD). The bail-in tool is used to write down or to convert certain liabilities with the purpose of restoring the capital adequacy. The valuation exercise would determine the amount of loss absorbtion to restore viability of the institution and capital adequacy. The bridge bank tool offers deeper restructuring powers to the competent resolution authority. Sale of the business tool is actually a variation of the bridge bank tool, enabling the resolution authority to transfer assets and liabilities to investors. The asset separation tool always is combined with another tool. The write-down is not a resolution tool, as it affects equity, while a bail-in tool goes further to other subordinated debt and senior debt. It is possible to establish additional resolution tools in the national legislation, as long as these tools are compatible with the principles of directive and national legislation in order to support cross-border group resolution. The issue of bank overregulation and the ability to meet the requirements without negative effects on the economy is emphasized.

4 European Banking Union

2015 ◽  
Author(s):  
Kleftouri Nikoletta
Keyword(s):  
Euro Area ◽  
Deposit Insurance ◽  
Spillover Effects ◽  
Banking Union ◽  
Bank Supervision ◽  
European Banking Union ◽  
Cross Border ◽  
European Bank ◽  
Bank Resolution ◽  
European Banking

Having a multiplicity of financial regulators, supervisors, and resolution authorities in Europe can weaken supervision, heighten legal uncertainty, and impede effective resolution. European officials recently agreed that further steps are needed to tackle the specific risks in particular within the euro area, where pooled monetary responsibilities had increased the possibility of cross-border spillover effects in the event of bank crises. As a result, they created a union aimed to centralize bank supervision, deposit insurance, and bank resolution. This chapter sets out two components of the European banking union: single supervision, and single deposit insurance. Single resolution is separately discussed in Chapter 8, where international and European bank resolution frameworks are examined. The chapter concludes that deeper reforms are needed, in conjunction with effective cooperation arrangements.

scholarly journals Ukrainian-Polish trade and economic relations in modern conditions

2020 ◽  
Vol 23 (10) ◽  
pp. 36-46
Author(s):  
Borys Sulym
Keyword(s):  
Free Market ◽  
Trade In Services ◽  
Negative Effects ◽  
Economic Relations ◽  
Trade Relations ◽  
Goods And Services ◽  
Cross Border ◽  
Polish Economy ◽  
Trade And Investment ◽  
Cross Border Cooperation

The main directions of development of Ukrainian-Polish trade relations are considered in the article. The positive and negative effects of cross-border cooperation in trade and investment are substantiated, as well as a number of recommendations for building mutually beneficial relations on the basis of national interests.The purpose of this article is to assess the Ukrainian-Polish trade and economic relations in modern conditions in order to form scientifically sound recommendations for the development of mutually beneficial cross-border cooperation, taking into account national interests.Research methods. Methods of scientific analysis are used in the critical assessment of the concept of free market and free trade; comparison in the study of the dynamics of Ukrainian-Polish trade relations; graphical method for displaying and comparing trade in goods and services and investment between Poland and Ukraine; method of generalization in the development of proposals to improve the efficiency of cross-border trade and investment between countries, taking into account national characteristics and interests.Results. An assessment of Ukrainian-Polish trade and economic relations over the past ten years is given. It is proved that Ukrainian-Polish relations in the field of trade in goods do not have significant benefits for the Ukrainian economy, as their balance is negative during the period under study. Emphasis is placed on mutual exits in the field of trade in services, where the Polish side actively uses Ukrainian enterprises to order services for processing material resources through cheap labor, which stimulates the inflow of funds into Ukrainian business, job creation and more. There is a significant predominance of Polish investment in the national economy over Ukrainian investment in the Polish economy, due to the higher development of the Polish economy and interest in building branches and subsidiaries of Polish enterprises.A number of measures have been proposed to increase the economic complexity of the domestic economy in order to increase technological exports to Poland and equalize the trade balance between the countries; the directions of development of trade in services (in particular medical services in the conditions of COVID-19), as well as measures to increase the volume of Polish investment are substantiated.

scholarly journals Multilevel cooperation in the EU resolution of cross-border bank groups: lessons from the non-euro area Member States joining the Single Resolution Mechanism (SRM)

2021 ◽  
Author(s):  
Agnieszka Smoleńska
Keyword(s):  
Euro Area ◽  
Banking Union ◽  
Member States ◽  
Essential Condition ◽  
European Banking Union ◽  
Cross Border ◽  
Single Resolution Mechanism ◽  
European Banking ◽  
Administrative Oversight ◽  
The Eu

AbstractCross-border banking presents a unique set of challenges in the EU from the perspective of arranging administrative oversight structures. Structuring cooperation between different EU and national authorities in a way which is conducive to trust-building and mutual engagement is an essential condition for overcoming disintegrative tendencies in the internal market. To assess how the existing EU arrangements fare in this regard in the context of EU resolution law, this article comparatively analyses the different models of multilevel administrative cooperation in the post-crisis EU framework. These are specifically the centralised model of the European Banking Union (Single Resolution Mechanism) and the relatively looser networked model of the resolution colleges. The multilevel cooperation under both models is nuanced given the distinct roles of the national resolution authorities, EU agencies and the differentiated status of non-euro area Member States in the EBU (Croatia, Bulgaria). The article’s findings allow to identify specific problems of constitutional nature pertaining to the accountability of administrative cooperation, equality of Member States and the implications of Meroni doctrine’s distortive effects.

The legal phenomenon of lex sportiva in the international sports law

2020 ◽  
Vol 10 (4) ◽  
pp. 168-183
Author(s):  
Artem Bredikhin
Keyword(s):  
Self Regulation ◽  
Legal Regulation ◽  
The European Union ◽  
Sports Law ◽  
National Legislation ◽  
Sports Organizations ◽  
Cross Border ◽  
Lex Sportiva ◽  
Lex Mercatoria ◽  
Special Rules

The development of sports law is directly related to the nature of sports, whose legal relations must have uniformity and stability, achieved through regulation by special rules created by international and national sports organizations – lex sportiva. This paper is devoted to lex sportiva as one of the most important tools for regulating cross-border relations in the field of sports. The author examines the origin and legal nature of lex sportiva as well as its impact on national legislation in the field of sports. Moreover, the author elaborates on possible meanings of this notion: lex sportiva as a set of rules of self-regulation, as a set of decisions of the Court of Arbitration for Sport, as a legal principle, as a phenomenon of implementation, and as a criterion for determining the amount of compensation. The author discusses the use of lex sportiva by the Court of Arbitration for Sport in the context of dispute resolution, since this court has formed an extensive judicial practice throughout its existence, which, together with the rules of national and international sports organizations, forms an important part of lex sportiva. In this regard, the author draws parallels with the related source of cross-border law – lex mercatoria, and also considers situations in which there are conflicts between lex sportiva and the norms of international law and rules of national legislation. In the field of sports, such legal conflicts are resolved by the principle of lex specialis derogat legi generali, according to which the rules of lex sportiva prevail over national law, providing a principle for the autonomy of sports. The first mention of the recognition of this principle is contained in the sources of law of the European Union. Finally, the author comes to the conclusion that the generally recognized two-dimensional understanding of lex sportiva as a doctrine and as a set of norms of self-regulation in sports is outdated, since it does not fully reveal the essence of the legal phenomenon, since it does not reflect all its properties which are manifested in the situations of legal regulation of relationships in the sports field. The exclusive role of lex sportiva is predicted to resolve international legal and organizational conflicts in the field of sports caused by the COVID-19 pandemic.

Transnational Securities Law - Online Update, March 2016

2014 ◽  
Keyword(s):  
Securities Law ◽  
Cross Border ◽  
Bank Resolution ◽  
Subject Areas

This noter-up complements Transnational Securities Law by Thomas Keijser. It updates the main edition in a number of areas. These include the following subject areas: Intermediated securities; Non-intermediated securities; Central Securities Depository (CSD); Bank resolution and insolvency ; and Banks and cross-border issues .

‘Beggars Can’t Be Choosers’: Spain and the Financial Crisis

2013 ◽  
Vol 15 ◽  
pp. 417-437
Author(s):  
Carlos J Moreiro González
Keyword(s):  
Banking System ◽  
Regulatory Reform ◽  
Legal Framework ◽  
Capital Adequacy ◽  
Banking Union ◽  
Spanish Economy ◽  
Structural Problems ◽  
Relevant Group ◽  
The One ◽  
Social Wealth

AbstractThis contribution analyses the viability of the new Spanish financial landscape which has been drawn by the European authorities and the national administration in order to overcome the progressive deterioration of social wealth in Spain since the beginning of the economic crisis in 2008.The adoption and the implementation of a new legal framework during the last two years, establishing tougher requirements on capital adequacy, leverage ratios and counter-cyclical and other buffers, as well as the shaping of the Banking Union, are not enough to transform the Spanish banking system into the key tool for the creation of wealth.There is a paradox of both legal and institutional outcomes. While, on the one hand, some positive changes in the functioning and the structure of the banking industry have been prompted by the regulatory reform, there are, on the other hand, some uncertainties linked to the recapitalisation costs of a relevant group of credit institutions and the persistence of serious structural problems of the Spanish economy.Moving faster to full banking union will reduce financial market stress in Spain.

Research Handbook on Cross-Border Bank Resolution

2019 ◽  
Author(s):  
Matthias Haentjens ◽  
Bob Wessels
Keyword(s):  
Cross Border ◽  
Bank Resolution
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