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As the UK and the EU prepare to start negotiations for Brexit, it is important for both sides to comprehend the full … the short-term and long-term effects of Brexit on financial stability on both sides of the Channel. The relative strength … in the relevant literature regarding the output cost of Brexit, with particular emphasis on the EU, and show that …
Persistent link: https://www.econbiz.de/10012928060
On 23rd February 2017, SUERF and EY organized a conference on "Brexit and the Implications for Financial Services" at … EY's offices, Churchill Place, Canary Wharf, London. While the outcome of the Brexit negotiations remains highly … viewpoints expressed on a number of important themes: the systemic risks from Brexit; the possible role of equivalence versus …
Persistent link: https://www.econbiz.de/10011712197
Deleveraging has two components -- shrinking of balance sheets due to increased haircuts/shedding of assets, and the reduction in the interconnectedness of the financial system. We focus on the second aspect and show that post-Lehman there has been a significant decline in the interconnectedness...
Persistent link: https://www.econbiz.de/10013098625
The bail-in tool as implemented in the European bank resolution framework suffers from severe shortcomings. To some extent, the regulatory framework can remedy the impediments to the desirable incentive effect of private sector involvement (PSI) that emanate from a lack of predictability of...
Persistent link: https://www.econbiz.de/10011711668
We investigate whether the bank crisis management framework of the European banking union can effectively bar the detrimental influence of national interests in cross-border bank failures. We find that both the internal governance structure and decision making procedure of the Single Resolution...
Persistent link: https://www.econbiz.de/10012807771
This paper examines the institutional design of the EU European and Monetary Union. Specifically, it analyses five different institutions that have been set up in the post-financial crisis period, namely the three European Supervisory Authorities (ESMA, EBA and EIOPA), the European Financial...
Persistent link: https://www.econbiz.de/10012958739
Conceived in the wake of the Global Financial Crisis, bail-in is the principal innovation of recent times in the area of bank crisis management. Bail-in enables a country’s banking authorities to force a failing bank’s immediate claimholders (specifically, its shareholders and certain, but...
Persistent link: https://www.econbiz.de/10013298396
Shocks that hit part of the financial system, such as the subprime mortgage market in 2007, can propagate through a complex network of interconnections among financial and non-financial institutions. As the financial crisis of 2007-2009 has shown, the consequences for the entire economy of such...
Persistent link: https://www.econbiz.de/10012867572
Shocks that hit part of the financial system, such as the subprime mortgage market in 2007, can propagate through a complex network of interconnections among financial and non-financial institutions. As the financial crisis of 2007-2009 has shown, the consequences for the entire economy of such...
Persistent link: https://www.econbiz.de/10012870636