lawmakers should weigh general welfare against this autonomy principle, especially as regards new European bank insolvency law …

This paper analyzes the bail-in tool under the Bank Recovery and Resolution Directive (BRRD) and predicts that it will … establishing adequate market discipline through risk-reflecting prices for bank capital. The main reason for this lies in the … bank’s balance sheet should be subjected to bail-in is misguided. Instead, a concentration of PSI in instruments that fall …

through risk-reflecting prices for bank capital. The main reason for this lies in the avoidable embeddedness of the BRRD … approach that seeks to disentangle private sector involvement as a precondition for effective bank-resolution as much as …