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Crisis Management and Resolution for a European Banking System
Author:
Alessandro Giustiniani
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Mr. Wim Fonteyne
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Wouter Bossu null

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,
Alessandro Gullo
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Seán Kerr null

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Mr. Daniel C Hardy
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https://orcid.org/0000-0002-2893-3801
, and
Luis Cortavarria-Checkley null

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Series:
IMF Working Papers
Volume/Issue:
Volume 2010: Issue 070
Language:
English
Publication Date:
01 Mar 2010
DOI:
https://doi.org/10.5089/9781451982695.001
ISBN:
9781451982695
ISSN:
1018-5941
Pages:
17
Keywords:
debt target; debt level; Federal Government debt; debt outlook; fiscal policy behavior; Fiscal stance; Budget planning and preparation; Real interest rates
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper proposes an integrated crisis management and resolution framework for the EU's single banking market. It comprises a European Resolution Authority (ERA), armed with the mandate and the tools to deal cost-effectively with failing systemic cross-border banks, and is designed to address many fundamental operational and incentive problems. It also seeks to reduce moral hazard and better protect countries against the risk of twin fiscal-financial crises by detaching banks from government budgets. The ERA would be most effective if it were twinned or combined with a European Deposit Insurance and Resolution Fund
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund