Mark Feiler

(Author)

On the Credibility of Bail-ins. Has the Single Resolution Mechanism become more credible for European Banks after the Banco Popular Bail-in?Paperback, 9 January 2018

On the Credibility of Bail-ins. Has the Single Resolution Mechanism become more credible for European Banks after the Banco Popular Bail-in?
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Print Length
48 pages
Language
English
Publisher
Studylab
Date Published
9 Jan 2018
ISBN-10
3960951663
ISBN-13
9783960951667

Description

During the recent financial crisis, resolution mechanisms proved to be insufficient to wind down systemically important financial institutions. Especially the bankruptcy of Lehman Brothers led to severe macroeconomic instability. Afterwards, national and supranational authorities implemented new regulations for preventing and managing bank failures, among them the Single Resolution Mechanism (SRM) in the European Banking Union. The failure of Banco Popular in June 2017 put the SRM to the first test. As the resolution mechanism apparently worked smoothly, and did not contaminate other banks or even the non-banking industry, the question arises whether the resolution mechanism has consequently become more credible for bank investors. By analyzing market reactions to the Banco Popular bail-in, the author primarily aims to answer this question. Hypothetically, if investors perceive the bail-in as a credible commitment by the Single Resolution Board, the implicit insurance should cease. For this reason, investors would demand higher, risk-reflecting interest rates, impairing the bank's profitability. Therefore, in the case that this is the dominant effect, a bank's share price should fall. In this book: - Single Resolution Mechanism; - European Banking Union; - financial industry regulations; - bail-in and bail-out; - too big to fail banks; - Banco Popular

Product Details

Author:
Mark Feiler
Book Format:
Paperback
Country of Origin:
US
Date Published:
9 January 2018
Dimensions:
21.01 x 14.81 x 0.3 cm
ISBN-10:
3960951663
ISBN-13:
9783960951667
Language:
English
Pages:
48
Publisher:
Weight:
72.57 gm

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