The European Union intended to bring an end to taxpayer-funded bank rescues when it adopted the Bank Recovery and Resolution Directive in 2014 and established the Single Resolution Board (SRB) as the central resolution authority in the euro area. Cases since then, however, suggest this endeavor has achieved at best partial success. Meanwhile, the US bank resolution framework, long viewed as the reference for global best practice, met unexpected challenges in March 2023. This session takes stock.
Senior Fellow, Peterson Institute for International Economics (PIIE)
Chair, EU Single Resolution Board
Harvey J. Goldschmid Professor of Law, Columbia Law School
About This Series
Financial Statements is a biweekly virtual event series hosted by Nicolas Véron that explores changes in the world of finance, encompassing themes of financial services regulation, corporate finance and governance, systemic fragility and crises, and structural changes driving business and policy trends in the financial sector.