We argue that sustainable balanced development is preconditioned on financial inclusion, and that FinTech is the key driver for financial inclusion. In turn, the full potential of FinTech to support the Sustainable Development Goals will only be realized with a progressive approach to developing...

Even though the primary function of deposit guarantee schemes (DGSs) is to serve as ‘paybox' for bank depositors, provide protection to retail depositors, act as a buffer in the event of a banking crisis and contribute to safeguarding the stability of the banking system, DGSs' financial means...

On the basis of an analysis of the objectives of financial regulation, this paper analyses the extent to which these principles are implemented in the European Union, considering the specific legal structure of its financial regulation and the implementation by national competent authorities....

Conceptually, the ‘resolution' of financial intermediaries does not merely refer to instruments and procedures for the management of insolvencies in the financial sector generally. Rather, ‘resolution' is conceived as a functional alternative to, and substitute for, traditional means of...

The introduction of bail-in resolution powers to impose the costs of a large bank's failure on its creditors (rather than on the taxpayer) is the most intriguing initiative of the post-financial crisis regulatory framework. However, a fundamental conundrum remains in the legal regime: it is...

Since the first of January 2016, the Single Resolution Mechanism (SRM) has become fully operational. For the Member States of the European Banking Union the new regime entails a transferral of the decision-making on failing banks to the European level, specifically the Single Resolution Board...

The EU bank resolution framework relies heavily on banks' internal capacity for loss-absorption and recapitalization through the issuance of bail-inable financial instruments (MREL). Meanwhile, the existing collective funding arrangements (resolution and deposit insurance funds) seem inadequate...

IFRS 9 was introduced by the IASB in 2014 and became mandatory for fiscal years starting in 2018. It bears fundamental changes in the accounting requirements for financial instruments, especially in the areas of recognition, categorisation and measurement, impairment and loan loss provision. As...

At first sight, the very concept as well as the modus operandi of close cooperation between the SRM and non-euro Member States are closely realigned with the application of the concept within the SSM. In fact, pursuant to Art. 4(1) SRMR, the establishment of close cooperation cannot be agreed...

Europe's path to digitization and datafication in finance has rested upon four apparently unrelated pillars: (1) extensive reporting requirements imposed after the Global Financial Crisis to control systemic risk and change financial sector behavior; (2) strict data protection rules reflecting...