Peter King considers the implementation of the Bank Recovery and Resolution Directive in a new article in the Butterworths Journal of International Banking and Financial Law. 

Key points:

  • Full implementation leaves uncertainties which are unlikely to be resolved until the failure of a major bank.
  • A particular problem is whether a court outside the EU would recognise a bail-in ordered by a resolution authority in another EU member state.
  • The interaction between “market contracts” and bail-in powers (where, for instance, a bank acting as a clearing member is subjected to bail-in) remains unclear.

Please click here for the full article, “The EU Bank Recovery and Resolution Directive: moving towards full implementation”.

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