Bank Recovery and Resolution : An Overview of Institutional Initiatives

Banks have fallen insolvent since they have come into existence. The ritual act of breaking a banker's table or banca, behind which he conducted his business, used to signify this banker's insolvency. In our times, it is different. Which laws should be enforced in the bank's insolvency, is the subject of many international initiatives including those of FSB, BIS, IMF, UNCITRAL and the EU (in the form of the Bank Recovery and Resolution Directive). These initiatives are discussed both territorially and thematically