Patrick Bolton, Martin Oehmke, 31 July 2018

When banks are too big to fail, resolution frameworks for are hobbled by the mismatch between their global nature and the national scope of regulators. This column argues that while a ‘single point of entry’ resolution is efficient, it is often incompatible with the interests of regulatory authorities, both ex ante and ex post. Taking the political constraints and incentives of national regulators into account implies that a credible resolution regime cannot be‘one size fits all’.

Thomas Huertas, 09 August 2016

Financial market infrastructures (FMIs) are the backbone of the financial system. Although steps have been taken to make it less likely, if an FMI were to fail it could have catastrophic consequences for financial markets and the economy at large. This column introduces four recommendations from the CEPS Resolution Taskforce for policymakers in case of such an event, based on coordination, timeliness, and remedying the impediments to FMI resolvability.

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