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MREL and TLAC: The Path from Bail-out to Bail-in for Banks' Creditors in the European Union

Best, Stefan; Read, Oliver - In: Credit and Capital Markets – Kredit und Kapital 50 (2017) 3, pp. 337-362

In the wake of the financial market crisis new rules on banking recovery and resolution of systemic banks have been enacted in order to facilitate the bail-in of banks' creditors. Banks will be required to maintain sufficient amounts of own funds and bail-inable debt called Minimum Requirement...

Persistent link: https://www.econbiz.de/10014522672

Does Subordinated Debt Discipline Banks? Empirical Evidence of Market Discipline in Europe

Schürk, Daniel - In: Junior Management Science (JUMS) 4 (2019) 2, pp. 228-240

This thesis provides a differentiated answer to the question whether subordinated debt disciplines bank's risk-taking behavior. I investigate the conditions and applicability of market discipline through subordinated debt instruments by critically reviewing the state of research. Relating to the...

Persistent link: https://www.econbiz.de/10014528869

Should the marketing of subordinated debt be restricted/different in one way or the other? What to do in the case of mis-selling?

Götz, Martin R.; Tröger, Tobias - 2016

An important prerequisite for the efficiency of bail-in as a regulatory tool is that debt holders are able to bear the cost of a bail-in. Examining European banks' subordinated debt we caution that households may be investors in bail-in able bonds. Since households do not fulfil the...

Persistent link: https://www.econbiz.de/10011442595

Italian bank crisis: Flexible application of BRRD rules, or a bailout in disguise?

Famfollet, Jan; Sankotová, Eliška - In: Review of Economic Perspectives 20 (2020) 2, pp. 109-135

of the banking union. The Bank Recovery and Resolution Directive (BRRD) represents an important milestone in the …

Persistent link: https://www.econbiz.de/10012384141

Debt holder monitoring and implicit guarantees: Did the BRRD improve market discipline?

Cutura, Jannic Alexander - 2020

This paper argues that the European Unions Banking Recovery and Resolution Directive (BRRD) improved market discipline … in the European bank market for unsecured debt. The different impact of the BRRD on bank bonds provides a quasi …-natural experiment that allows to study the effect of the BRRD within banks using a difference-in-difference approach. Identification is …

Persistent link: https://www.econbiz.de/10012653448

Regional investment aid under regional operational plans for 2014-2020

Odachowski, Jarosław - In: The Central European Review of Economics and Management … 3 (2019) 1, pp. 181-206

Aim: The implementation of numerous EU projects in the period 2014-2020 is bound to require that they are compliant with EU law, domestic law, relevant guidelines, programming documents, and the content of an agreement on co-financing a project. It is in this context that the issue of public aid...

Persistent link: https://www.econbiz.de/10012427267

Disaster aid and support for mandatory insurance: Evidence from a survey experiment

Garbarino, Nicola; Möhrle, Sascha; Neumeier, Florian; … - 2024

Dealing with the consequences of climate change will put an increasing burden on public and private finances. We use the example of floods in a survey experiment among 8,000 German households to elicit households' preferences for climate adaptation policies. In Germany, as in many countries, we...

Persistent link: https://www.econbiz.de/10014479669

Taking bail-in seriously: The looming risks for banking policy in the rescue of Monte Paschi di Siena

Götz, Martin; Krahnen, Jan Pieter; Tröger, Tobias - 2017

According to the Bank Recovery and Resolution Directive (BRRD), introduced as a lesson from the recent financial crisis … the rules as the test-case MPS will have a direct impact on the credibility of the new BRRD regime and the responsible …

Persistent link: https://www.econbiz.de/10011597084

At the End of the Waterfall – Resolvability of Central Counterparties

Gárdos, Péter - In: Credit and Capital Markets – Kredit und Kapital 54 (2021) 4, pp. 505-531

After the prudential requirements introduced by EMIR in 2012, the European Union took a further step when it adopted a regulation in 2021 on the framework for the recovery and resolution of central counterparties. The regulation is based on the bank recovery and resolution directive of 2014....

Persistent link: https://www.econbiz.de/10014523282

What are the determinants of MREL-eligible debt yields? Evidence from the EU banking sector

Rocamora, María; Suárez, Nuria; Monjas Barroso, Manuel - 2020

We examine the risk sensitiveness of minimum requirement for own funds and eligible liabilities (MREL)-eligible debt yields in a sample of 63 European banking groups during the period 2009Q3-2019Q2 in 14 European countries. We conclude that MREL-eligible debt is risk sensitive, as investors...

Persistent link: https://www.econbiz.de/10014564942