The publication of the Liikanen Group's final report in October 2012 was surrounded by high expectations regarding the implementation of the reform plans through the proposed measures that reacted to the financial and sovereign debt crises. The recommendations mainly focused on introducing a...

Bank regulators have the discretion to discipline banks by executing enforcement actions to ensure that banks correct deficiencies regarding safe and sound banking principles. We highlight the trade-offs regarding the execution of enforcement actions for financial stability. Following this we...

According to the Bank Recovery and Resolution Directive (BRRD), introduced as a lesson from the recent financial crisis, the losses a failing bank incurred should generally be borne by its investors. Before a minimum bail-in has occurred, government money can only be injected in emergency cas-es...

This study provides a graphic overview on core legislation in the area of economic and financial services. The presentation essentially covers the areas within the responsibility of the Economic and Monetary Affairs Committee (ECON); hence it starts with core ECON areas but also displays...

The bail-in tool as implemented in the European bank resolution framework suffers from severe shortcomings. To some extent, the regulatory framework can remove the impediments to the desirable incentive effect of private sector involvement (PSI) emanating from a lack of predictability of...

This article addresses the question what will be the impact of the recently admitted choice of corporate law in Europe and how regulators can and should react. Drawing on the empirical evidence and theoretical insights produced in the abundant debate on charter competition in the United States,...

This in-depth analysis provides evidence on differences in the practice of supervising large banks in the UK and in the euro area. It identifies the diverging institutional architecture (partially supranationalised vs. national oversight) as a pivotal determinant for a higher effectiveness of...

Die BaFin hat im August 2021 eine Richtlinie für nachhaltige Investmentvermögen vorgelegt. Diese soll regeln, unter welchen Voraussetzungen ein Fonds als "nachhaltig", "grün" o.ä. bezeichnet und vermarktet werden darf. Zwar sind aufsichtsrechtliche Maßnahmen, die darauf abzielen, die...