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9 Bank Resolution Financing in the Banking Union

Christos Hadjiemmanuil

From: Bank Resolution: The European Regime

Edited By: Jens-Hinrich Binder, Dalvinder Singh

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 03 December 2022

Deposit insurance schemes — Deposit protection schemes — Recovery and Resolution Plan (RRP) — Special Resolution Regime (SSR) — Regulation of banks — European Banking Authority (EBA)

This chapter explores bank resolution financing in the Banking Union, a project launched in 2012 as a direct response to the euro area’s crisis that began in Spain. The Banking Union is a streamlined and highly centralized regime for the supervision and resolution of all banks in the euro area and beyond, based on a novel, complex institutional set-up. The Union relies on supranational decision-making, especially with regard to the largest and most important banking institutions. The chapter assesses the Banking Union’s two-pronged institutional construction: the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM). It concludes by discussing how the Bank Recovery and Resolution Directive (BRRD) affects resolution financing in the Banking Union.

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