Bail-in
EU Council aims to limit bail-in debt rules
Leaked BRRD text reveals Greek and Portuguese banks could escape subordinated debt regime
Book notes: A diary of the euro crisis in Cyprus
Panicos Demetriades’ book tells the inside story of the Cypriot crisis and how battles over central bank independence led ultimately to his resignation
Slovene governor quits post after receiving death threats
Governor Jazbec says threats come from “bailed-in” bond and shareholders; criticises article by presidential adviser
MAS needs expanded resolution powers, FSB report says
Singapore's central bank should clarify oversight of macro-prudential policies, says peer review
US Treasury hones its bank resolution regulations
Treasury proposals look to overhaul Chapter 14 from the bankruptcy code to limit use of Orderly Liquidation Authority, while restricting FDIC powers
Russian central bank becomes sole shareholder in failed bank
Central bank injects approximately $7.7 billion into Otkritie
Loss absorbency is a challenge to implement – BoE’s Gracie
Delays in other jurisdictions are making it hard to roll out final rules for total loss-absorbing capacity, says executive director
FSB praises ‘good progress’ on S Korean resolution framework
Peer review finds additional work to be done on filling gaps and strengthening supervision
FSB consults on bail-ins and funding during resolution
Consultations seek to unpick the operational complexities of implementing resolution regimes
Slovene governor: draft law would harm bank’s independence
Government’s action is the latest move in its dispute over bank bail-ins
BoE asks banks to allocate $154 billion to new MREL requirements
UK central bank introduces new internal capital requirement for large banks with subsidiaries; banks have net shortfall of £4 billion to meet by 2022
Bank resolution regime rolls out in Hong Kong
HKMA chief outlines how the new bank resolution regime can end the use of taxpayers’ money in case of a bank failure; authority also plans to conduct a public consultation on loss absorbency
EC approves state aid for two Italian banks
Small regional banks will receive about €5 billion, having avoided resolution
Australia’s bank levy could squeeze TLAC drive
Issuing Tier 2 and senior unsecured debt will become more expensive for the top four banks in the country
Kashkari rejects Dimon’s claims on too big to fail
Minneapolis Fed chief rebuts assertion by JP Morgan CEO that US banks are no longer too big to fail; says capital is too low, not too high
CEPR report ‘cautiously optimistic’ on bail-in
Thomas Philippon and Aude Salord find range of issues with European bail-in rules, but say they can probably be fixed; Cyprus bail-in “terribly” executed but still worked
New deposits backed by central bank money could solve public mistrust
New deposits backed by central bank reserves could address public fears about bank safety following the use of bail-in tools in the resolution of regional banks, argues Alessandro Roselli
Rohde criticises Italy's calls for BRRD special treatment
Danish governor believes the forceful implementation of Europe’s new bank resolution rules represents a “game-changer”; laments Basel’s shift from risk-based regulation
Ignazio Visco on Italian banks and why the ECB should not be made a ‘scapegoat’ for EMU fatigue
The Bank of Italy governor speaks to Chris Jeffery about resolving Italy’s NPLs, Europe’s bail-in framework, the importance of QE and why the ECB needs to stop being made a ‘scapegoat’ for EMU fatigue
BoE sets final rules for bank loss-absorbency
Final rules for bail-inable debt adjusted for longer transition and lighter load on smaller banks
Slovenian bail-in was legal, ECJ rules
Decision to wipe out some subordinated debt before recapitalising Slovenian banks in 2013 was challenged, but court finds it is compatible with EU law
Now banks face bail-in, should we rethink deposit insurance?
David Mayes argues deposit insurance schemes forged during crisis may impose unnecessary costs in more normal times
Hong Kong authorities look to bring shadow banks into resolution regime
Plans for resolution regime are advancing, with legislation expected by the end of the year; unregulated financial institutions can still be covered by the regime
Denmark’s Rohde concerned by lack of bail-in tool at mortgage banks
European standard for loss-absorbing capital does not apply to Danish mortgage banks, meaning resolution frameworks have to make do without bail-in