Financing bank resolution: An alternative solution for arranging the liquidity required
Liquidity in resolution is one of the unresolved elements of the Single Resolution Mechanism. Currently, with the Single Resolution Fund (SRF) and the Eurosystem, there are two potential sources of liquidity in resolution, which both have clear limitations in use and amounts. Straightforward solutions to give the SRF and/or Eurosystem more firepower in resolution go against the main objectives of the resolution mechanism (i.e. breaking the sovereign-bank nexus and avoiding use of taxpayers’ money). This paper proposes an ECB liquidity facility with an SRF-guarantee as an alternative solution for banks in resolution. The funds available should be broadly sufficient to address potential liquidity needs for resolution tools. The proposed solution primarily requires agreement on the ESM-backstop for the SRF, a firmer commitment for (possible) future contributions for the SRF as well as a change to the current emergency liquidity assistance or introduction of a new dedicated Transitional Liquidity Assistance by the Eurosystem.
Analisi approfondita
Autore esterno
W.P. De Groen, CEPS
Informazioni sul documento
Tipo di pubblicazione
Settore di intervento
Parole chiave
- banca centrale
- controllo della liquidità
- DIRITTO
- diritto civile
- diritto dell'Unione europea
- economia monetaria
- elaborazione del diritto dell'UE
- FINANZE
- gestione amministrativa
- gestione del rischio
- IMPRESA E CONCORRENZA
- impresa in difficoltà
- istituti finanziari e di credito
- istituto finanziario
- libera circolazione dei capitali
- norma tecnica
- organizzazione aziendale
- PRODUZIONE, TECNOLOGIA E RICERCA
- regolamentazione finanziaria
- relazioni monetarie
- rischio finanziario
- solvibilità finanziaria
- tecnologia e regolamentazione tecnica
- Unione bancaria dell'UE
- UNIONE EUROPEA
- zona euro