This workshop will discuss recovery and resolution plans in the CEE countries
As a new European framework for the management of banking crises is taking shape this Bruegel workshop will examine the recovery and resolution plans of European banks active in emerging Europe.
The workshop will be designed to facilitate in-depth discussion of financial and operational arrangements in key cross-border banking groups, and the coordination between euro area authorities, and key host countries.
This event is only open to members and selected invitees. For more information contact email@example.com
Crisis management for euro-area banks in central Europe by Alexander Lehmann
Check-in and lunch
KEY CHALLENGES IN CROSS-BORDER RESOLUTION PLANNING IN THE CEE REGION
Chair: Guntram B. Wolff, Director
Boris Vujčić, Governor of the Croatian National Bank
THE BANK’S RECOVERY PLANNING AND RESOLVABILITY
DIRECTIONS IN HOST COUNTRY RESOLUTION PLANNING
“Crisis management for euro-area banks in central Europe”
Alexander Lehmann, Non-resident fellow
Board Member, Single Resolution Board
Governor of the Croatian National Bank
Head of Resolution, European Banking Authority
Head of Resolution Division, Austrian National Bank
Head of Group Regulatory Affairs & Data Governance, Raiffeisen Bank International
Head of Crisis Management Division, ECB
Deputy President, Polish Bank Guarantee Fund
Executive Director Resolution Department, Czech National Bank
Director Bank Resolution, National Bank of Romania
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The discussions of the now-aborted merger of Germany’s two largest banks underlined supervisors’ concerns over creating banks that are too big or too complex to fail. While European banks are increasingly funded through securities that could be subject to a bail-in, transparency over how any resolutions would unfold is as yet very poor.
Europe’s largest banks have made progress in issuing bail-inable securities that shelter taxpayers from bank failures. But the now-finalised revision of the bank resolution directive and a new policy of the SRB will make requirements to issue such securities more onerous for other banks. In order to strengthen banking-system resilience, EU capital-market regulation should facilitate exposures of long-term institutional investors.
The Single Resolution Board (SRB) has had a somewhat difficult start but has been able to learn and adapt, and has gained stature following its first bank resolution decisions in 2017-18. It must continue to build up its capabilities, even as the European Union’s banking union and its policy regime for unviable banks continue to develop.
The recent Eurogroup agreement on euro-area reform foresees a greater role for the European Stability Mechanism (ESM) as a backstop to the banking union. This is a welcome step forward but important issues remain. We assess the agreement on how to fund banks after resolution and the best way to organise the fiscal role in liquidity provisioning to banks. We argue that the bank resolution framework will remain incomplete and its gaps could result in important financial instabilities.