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Critical functions and public interest in banking services: Need for clarification? Banking Union Scrutiny. Bruegel Report, November 2017

Merler, Silvia (2017) Critical functions and public interest in banking services: Need for clarification? Banking Union Scrutiny. Bruegel Report, November 2017. UNSPECIFIED.

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    Abstract

    Under the EU framework for dealing with banking problems, resolution is seen as an exception to be granted only if liquidation under national insolvency proceedings is not warranted. We look at the recent liquidation of two Italian banks to show how resolution and liquidation differ substantially when it comes to the scope of legislation applicable to the use of public funds. We argue that more clarity would be needed as to the role that the concepts of critical functions and public interest play in Member States’ decision to grant liquidation aid, and that the two-tier system – in which resolution is done at the EU level but insolvency remains a national prerogative – raises issues in the context of Banking Union.

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    Item Type: Other
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > banks/financial markets
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bruegel (Brussels) > Other
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 18 Jan 2018 09:52
    Number of Pages: 136
    Last Modified: 18 Jan 2018 10:21
    URI: http://aei.pitt.edu/id/eprint/93152

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