We provide a first evaluation of the quality of banking stress tests in the European Union. We use stress tests scenarios and banks' estimated losses to recover bank level exposures to macroeconomic factors. Once macro outcomes are realized, we predict banks' losses and compare them to actual...

This study develops on the status quo in relation to the assessment of resolvability of credit institutions and banking groups in the Banking Union and the removal of substantive impediments to their resolvability under the EU legal framework governing banking resolution, as in force, taking due...

The volume is a collection of articles based on presentations given at a conference titled “The Crisis Management Directive – Europe’s Answer for Too Big to Fail?” hosted by the Institute for Law and Finance on May 3, 2012. Patrick S. Kenadjian, Universität Frankfurt am Main.