Universiteit Leiden

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Course

PhD Workshop in Florence: Resolution and Its Frontiers – An Integrated Law and Economics Approach

Date
Friday 3 March 2017
Location
EUI, Villa Schifanoia (Sala Europa)
Via Boccaccio 121
I-50133 Florence

Resolution and Its Frontiers – An Integrated Law and Economics Approach

On Friday 3 March 2017, Leiden University’s Hazelhoff Centre for Financial Law and European University Institute's EU Financial and Monetary Law Working Group jointly organise a workshop in Florence. Researchers from 10 different universities from all over Europe participate in the workshop, which central theme is bank resolution. Professor Matthias Haentjens and PhD Candidates Shuai Guo and Lynette Janssen participate on behalf of the Hazelhoff Centre for Financial Law.

The global financial crisis and the European fiscal crisis raised a new set of cardinal questions concerning the development of the EU internal market and reforms of banking supervision and bank insolvency law oriented at restoring financial stability. Bank resolution rules were introduced by the Bank Recovery and Resolution Directive (BRRD) and the Single Resolution Mechanism Regulation (SRM) to address bank insolvencies and avoid future largescale bail-outs. At the same time, the emergence of bank resolution law cannot be studied without looking at its boundaries and the processes which shape this new areas of law. On a substantive level, for instance, the bank resolution rules are contingent on other areas of substantive law, including insolvency law and competition law – some harmonized at European level, others regulated still at the national level only. On a functional level, competences of resolution authorities intersect with those of supervisors and other authorities and the bank resolution rules may require a trade-off between financial stability, integration and competition objectives struck at EU level. Moreover, with the scope so far limited to banks only, resolution law's extension to insurance companies and central counterparties is forthcoming.

Against this background, the workshop will provide an opportunity for researchers in both law and economics to jointly discuss the emergence of resolution as a new area of EU law.

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