a bank holding insured deposits and issuing non-bail-inable debt and bail-inable Tier1-capital debt? We address this … postponing default; 2) a positive probability of bail-out destroys credibility with dramatic effects on financial risk-taking, to …

at the expense of taxpayers: the merger-bailout has increased Switzerland’s sovereign credit risk, resulting in an …

equity returns of key events associated with the two cornerstones of the European bail-in regime, the Bank Recovery … & Resolution Directive (BRRD) and the Single Resolution Mechanism Regulation (SRM-R), and other relevant events. Contrary to the … regulations’ objectives, we find that regulatory events associated with the implementation of BRRD and SRM-R led to tighter CDS …

appoint independent directors on the board of an assisted bank that missed six dividend payments to the Treasury - helped … attenuate bailout-related moral hazard. Banks were averse to these appointments - the empirical distribution of missed payments … exhibits a sharp discontinuity at five. Director appointments by the Treasury led to improved bank performance, lower CEO pay …

This paper examines the negative externalities that may occur when a large bank fails, describes the nature of those … directed first at closing institutions promptly, reforming bankruptcy statutes to admit special procedures for handling bank …