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Oxford Law Citator
Contents
Expand All
Collapse All
Preliminary Material
Foreword
Preface
Contents
Table of Cases
UK
EEA
Table of Statutes
UK
EU
Cyprus
US
Table of Secondary Legislation
UK
EU
US
List of Abbreviations
Introduction
Main Text
1 Rationales for Creating a Deposit Protection System
Preliminary Material
1.01
1.02
1.03
1.04
1.1 Deposit Insurance Can Protect Depositors…
1.1.1 Because They Are Unsecured Creditors
1.05
1.06
1.07
1.08
1.09
1.1.2 Because They Are Financially Unsophisticated Creditors
1.10
1.11
1.12
1.13
1.14
1.2 Deposit Insurance Can Strengthen Financial Stability…
1.2.1 Because It Can Prevent Bank Runs
1.15
1.16
1.17
1.18
1.19
1.20
1.2.2 Because It Can Complement Banks’ Resolution
1.21
1.22
1.23
1.24
1.25
1.2.3 Because It Can Limit the Use of Public Funds
1.26
1.27
1.28
1.29
1.30
1.31
1.32
1.33
1.34
1.35
1.36
1.2.4 Because It Can Level the Playing Field
1.37
1.38
1.39
1.40
1.3 Conclusions
1.41
1.42
1.43
2 The Limitations of Deposit Protection Systems
Preliminary Material
2.01
2.02
2.03
2.04
2.05
2.06
2.1 The Moral Hazard Effect of Deposit Insurance
2.1.1 The Creation of Moral Hazard
2.07
2.08
2.09
2.10
2.11
2.12
2.13
2.14
2.15
2.1.2 The Opposite View: Deposit Insurance Reduces Moral Hazard
2.16
2.17
2.2 Moral Hazard and Corporate Governance
2.18
2.19
2.20
2.21
2.22
2.23
2.3 Moral Hazard Mitigation
2.24
2.3.1 External and Internal Changes
2.3.1.1 Capital Regulation and Supervision
2.25
2.26
2.27
2.28
2.3.1.2 Bank Resolution
2.29
2.30
2.31
2.3.1.3 Bank Corporate Governance
2.32
2.33
2.34
2.3.1.4 Subordinated Debt Holders
2.35
2.36
2.37
2.38
2.3.2 The Design of the Deposit Insurance System
2.39
2.40
2.3.2.1 Financing
2.41
2.42
2.43
2.44
2.45
2.46
2.47
2.48
2.49
2.50
2.51
2.52
2.53
2.3.2.2 Coverage
2.54
2.55
2.56
2.57
2.58
2.59
2.60
2.61
2.62
2.63
2.4 A System’s Effectiveness
2.4.1 The Ideal Coverage Limit
2.64
2.65
2.66
2.67
2.68
2.4.2 Deposit Insurance and Government Guarantees
2.69
2.70
2.71
2.72
2.4.3 The Role of Deposit Insurance in Idiosyncratic Failures and Crises
2.73
2.74
2.75
2.76
2.5 Conclusions
2.77
3 The European Deposit Insurance Framework
Preliminary Material
3.01
3.02
3.03
3.1 The 1994 Deposit Guarantee Schemes Directive
3.1.1 The Directive’s Content
3.04
3.05
3.06
3.07
3.08
3.09
3.10
3.11
3.12
3.13
3.14
3.15
3.1.2 The Directive’s Shortcomings
3.16
3.17
3.18
3.19
3.20
3.21
3.22
3.23
3.24
3.2 Reforms of the EU Regulatory and Supervisory Arrangements
3.2.1 Regulatory Arrangements
3.2.1.1 Revision Stages
3.25
3.26
3.27
3.2.1.2 The Deposit Guarantee Schemes Directive (Recast)
3.28
3.29
3.30
3.31
3.32
3.33
3.34
3.35
3.36
3.37
3.38
3.39
3.40
3.41
3.2.2 Supervisory Arrangements
3.2.2.1 From the Lamfalussy Process to the de Larosière Report
3.42
3.43
3.44
3.45
3.46
3.2.2.2 The Creation of the European Banking Authority
3.47
3.48
3.49
3.50
3.51
3.3 Conclusions
3.52
3.53
3.54
3.55
3.56
4 European Banking Union
Preliminary Material
4.01
4.02
4.03
4.04
4.05
4.1 Establishing a European Banking Union
4.06
4.1.1 First Step: Single Supervision
4.07
4.08
4.09
4.10
4.11
4.1.2 The Desirability of a European Banking Union
4.12
4.13
4.14
4.15
4.16
4.17
4.2 Third Step: A Single Deposit Guarantee Scheme
4.18
4.2.1 Possible Design
4.19
4.20
4.21
4.22
4.23
4.2.2 Is There a Need for a Common Scheme?
4.24
4.25
4.26
4.3 Conclusions
4.27
4.28
4.29
5 Recent Cases on Deposit Guarantee Schemes
Preliminary Material
5.01
5.02
5.03
5.1 The Icesave Dispute
5.1.1 Background
5.04
5.05
5.1.1.1 First Plea
5.06
5.07
5.08
5.1.1.2 Second and Third Pleas
5.09
5.10
5.11
5.1.2 Lessons Learnt
5.1.2.1 State Liability
5.12
5.13
5.14
5.1.2.2 The Size of Deposit Insurance Fund
5.15
5.16
5.17
5.1.2.3 The Determination of Unavailable Deposits
5.18
5.19
5.20
5.2 The Resolution of Laiki Bank and Bank of Cyprus
5.2.1 Background
5.21
5.22
5.23
5.2.2 Lessons Learnt
5.2.2.1 The Need for a Bank Resolution Regime
5.24
5.25
5.26
5.2.2.2 Imposing Losses on Covered Depositors in Case of Emergency
5.27
5.28
5.29
5.2.2.3 Cross-border Cooperation
5.30
5.31
5.32
5.33
5.34
5.2.2.4 The Design of the Deposit Insurance System
5.35
5.36
5.37
5.3 Conclusions
5.38
5.39
5.40
6 International Standards on Deposit Insurance
Preliminary Material
6.01
6.02
6.1 The European Forum of Deposit Insurers
6.03
6.04
6.2 The International Association of Deposit Insurers
6.05
6.2.1 The Core Principles for Effective Deposit Insurance Systems
6.06
6.07
6.08
6.2.2 A Review of the Core Principles
6.09
6.10
6.3 The Architecture of Deposit Guarantee Schemes across Jurisdictions
6.11
6.12
6.13
6.14
6.15
6.16
6.4 Conclusions
6.17
7 The UK Deposit Insurance Framework
Preliminary Material
7.01
7.02
7.03
7.04
7.1 The Banking Act 1979
7.05
7.06
7.07
7.08
7.2 The Creation of the Financial Services Compensation Scheme
7.2.1 The Financial Services and Markets Act 2000
7.09
7.10
7.2.2 The FSA Handbook (now the PRA Rulebook)
7.11
7.12
7.13
7.2.2.1 The Compensation Rules
7.14
7.15
7.16
7.17
7.18
7.19
7.20
7.3 Post-crisis Reforms
7.21
7.22
7.23
7.3.1 Compensation Limits
7.24
7.25
7.26
7.27
7.28
7.29
7.30
7.31
7.3.2 Funding
7.32
7.33
7.34
7.35
7.36
7.3.3 Other Reforms
7.37
7.38
7.39
7.40
7.41
7.42
7.43
7.4 Conclusions
7.44
7.45
7.46
8 International and European Regulatory Developments on Bank Resolution
Preliminary Material
8.01
8.02
8.03
8.04
8.05
8.06
8.1 International Developments
8.07
8.08
8.1.1 The Financial Stability Board’s Key Attributes
8.09
8.10
8.11
8.1.2 Further Guidance
8.12
8.13
8.14
8.15
8.16
8.17
8.18
8.2 European Developments
8.19
8.2.1 The Bank Recovery and Resolution Directive
8.2.1.1 Overview
8.20
8.21
8.22
8.23
8.24
8.2.1.2 Recovery and Resolution Planning
8.25
8.26
8.27
8.2.1.3 Early Intervention
8.28
8.29
8.2.1.4 Resolution Tools
8.30
8.31
8.32
8.33
8.34
8.35
8.36
8.37
8.38
8.2.1.5 Cross-border Cooperation
8.39
8.40
8.41
8.2.1.6 The Use of Resolution Funds
8.42
8.43
8.44
8.45
8.2.1.7 The Use of Deposit Guarantee Funds
8.46
8.47
8.48
8.49
8.2.1.8 The Role of the European Banking Authority
8.50
8.51
8.52
8.2.2 Open Issues
8.53
8.54
8.55
8.56
8.57
8.58
8.2.3 Other Relevant Developments
8.2.3.1 State Aid
8.59
8.60
8.61
8.62
8.2.3.2 The Single Resolution Mechanism
8.63
8.64
8.65
8.66
8.67
8.68
8.69
8.2.3.3 Structural Reform
8.70
8.71
8.72
8.73
8.3 Conclusions
8.74
8.75
8.76
9 The UK Special Resolution Regime
Preliminary Material
9.01
9.02
9.03
9.04
9.05
9.1 Objectives and Triggers
9.06
9.07
9.08
9.2 The Resolution Tools
9.09
9.10
9.11
9.12
9.13
9.14
9.3 The UK Paradigm: The Roles of the Authorities
9.3.1 The Tripartite Authorities
9.15
9.16
9.17
9.3.2 The Creation of New Authorities
9.18
9.19
9.20
9.21
9.3.3 The Role of the Financial Services Compensation Scheme
9.22
9.23
9.24
9.3.3.1 In Bank Insolvency Procedure
9.25
9.26
9.27
9.28
9.3.3.2 In Resolution
9.29
9.30
9.31
9.4 Conclusions
9.32
9.33
10 The US Paradigm: Deposit Insurer as Resolution Authority
Preliminary Material
10.01
10.02
10.1 The Role of the Federal Deposit Insurance Corporation
10.03
10.1.1 Deposit Insurance
10.04
10.05
10.06
10.07
10.1.2 Supervision
10.08
10.09
10.10
10.11
10.12
10.1.3 Resolution
10.1.3.1 The Resolution Trigger
10.13
10.14
10.1.3.2 Resolution Tools
10.15
10.16
10.17
10.18
10.19
10.20
10.21
10.22
10.1.3.3 Receivership
10.23
10.24
10.25
10.2 The Key Elements of the Resolution Regime
10.2.1 Least-cost Resolution
10.26
10.27
10.28
10.29
10.30
10.2.2 Prompt Corrective Action
10.31
10.32
10.33
10.2.3 Risk-based Funding
10.34
10.35
10.36
10.2.4 National Depositor Preference
10.37
10.38
10.2.5 The Resolution of Systemically Important Financial Institutions
10.39
10.40
10.41
10.3 Conclusions
10.42
10.43
10.44
Further Material
Bibliography
Index
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Table of Secondary Legislation
From:
Deposit Protection and Bank Resolution
Nikoletta Kleftouri
Content type:
Book content
Product:
Financial Law [FBL]
Published in print:
01 June 2015
ISBN:
9780198743057
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