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Professor Haentjens on 'shadow banking' in bank resolution: balancing public policy and party autonomy

Contract means contract? Step-in risk, safeguards and resolution

On 28 October, Professor Matthias Haentjens spoke at the Annual Global Conference of the European Banking Institute (EBI). The conference was organized in cooperation with, and at the premises of the Deutsche Bundesbank in Frankfurt. His speech was entitled “Contract means contract? Step-in risk, safeguards and resolution” and it concerned, specifically, the treatment of shadow banking in bank resolution. Professor Haentjens showed how various recent legislative instruments such as the BRRD and (amendments to) the CRR curbed party autonomy where it regards securitisations. For all these instruments, legislators have invoked considerations of public policy (mainly: financial stability) as justification for curbing party autonomy. Professor Haentjens presented a normative framework on how to balance these public policy considerations against party autonomy, a main principle of private law.

The EBI centre for banking studies resulting from the joint venture of the mostly regarded European academic institutions which have decided to share and coordinate their commitments and structure their research activities in order to provide the highest quality legal, economic and accounting studies in the field of banking regulation, banking supervision and banking resolution in Europe.

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