Precautionary recapitalisations: time for a review
Precautionary recapitalisation, a tool for public intervention in the banking sector defined in the Bank Recovery and Resolution Directive (BRRD), is consistent with the rest of BRRD and a legitimate instrument for bank crisis management. The conditions set for it by BRRD are restrictive and have so far been effective to prevent its inappropriate use on insolvent banks. Minor corrections to the legislative text are desirable to fix a few cases of poor drafting. Beyond these, there is no immediate need for legislative change before the broader review of BRRD scheduled in late 2018. Outside of the scope of BRRD, the co-legislators should consider a reform of the EU audit framework to improve audit quality, and the European Stability Mechanism should be empowered to participate in future precautionary recapitalisations.
Analyse approfondie
Auteur externe
Nicolas VERON, Bruegel
À propos de ce document
Type de publication
Domaine politique
Mot-clé
- aide financière
- aide à la restructuration
- Banque centrale européenne
- directive (UE)
- DROIT
- droit civil
- droit de l'Union européenne
- entreprise en difficulté
- ENTREPRISE ET CONCURRENCE
- faillite
- FINANCES
- institutions de l'Union européenne et fonction publique européenne
- institutions financières et crédit
- intervention financière
- intervention sur le marché
- libre circulation des capitaux
- organisation de l'entreprise
- politique commerciale
- politique de coopération
- politique monétaire
- politique économique
- RELATIONS INTERNATIONALES
- situation économique
- solvabilité financière
- stabilisation économique
- UNION EUROPÉENNE
- ÉCHANGES ÉCONOMIQUES ET COMMERCIAUX
- ÉCONOMIE
- économie monétaire
- établissement de crédit