Abstract
The Bank Recovery and Resolution Directive (BRRD) is based on a network of national resolution authorities co-operating with each other, a common set of applicable powers and rules and the establishment of national funds for the resolution of bank crises. This marks a major shift away from the previous regulatory and institutional framework; it helps to minimise the differences in national procedures and practices and the fragmentation of the single market.
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Notes
European Commission, Proposal for a Regulation of the European Parliament and of the Council establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010 (Brussels, 10.7. 2013, COM (2013) 520 final, 2013/0253 (COD).
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© 2016 Giuseppe Boccuzzi
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Boccuzzi, G. (2016). The Second Pillar of the Banking Union: From the National Resolution Authorities to the Single Resolution Mechanism. In: The European Banking Union. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9781137555656_5
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DOI: https://doi.org/10.1057/9781137555656_5
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-57525-1
Online ISBN: 978-1-137-55565-6
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