Bank Recovery and Resolution

Since 2008, enormous efforts have been made worldwide to draft rules to prevent a reoccurrence of the devastating financial events of that year. In the process, bank business has been laid open to intense public and government scrutiny, and regulation of banking has grown to spectacular proportions. Prominent among the measures taken is the EU Bank Recovery and Resolution Directive (BRRD), which, together with the Single Resolution Mechanism (SRM) and the Single Resolution Fund, constitutes a crucial new pillar in the European Banking Union. Practitioners searching for orientation in what can readily be perceived as a è^-jungleè^-- have an urgent need for a clear and systematic description and analysis of these new rules, which are sure to have a massive impact on bank business from this time on, not only in Europe but wherever European business is to be found.