Dominique Laboureix

Oct 16, 2023 | piie.com | Nicolas Véron |Dominique Laboureix |Kathryn Judge

The European Union intended to bring an end to taxpayer-funded bank rescues when it adopted the Bank Recovery and Resolution Directive in 2014 and established the Single Resolution Board (SRB) as the central resolution authority in the euro area. Cases since then, however, suggest this endeavor has achieved at best partial success. Meanwhile, the US bank resolution framework, long viewed as the reference for global best practice, met unexpected challenges in March 2023. This session takes stock.