The new EU framework for financial crisis management and resolution
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چکیده
The work to improve bank crisis management and resolution frameworks is ongoing in several jurisdictions worldwide after the fi nancial crisis revealed serious shortcomings in the respective regimes. The development of an effective framework is particularly challenging in the EU. This complexity arises owing to the objective of achieving stability in a highly integrated fi nancial system, where the competent authorities maintain their fi duciary responsibility towards the respective national taxpayers. This article provides an overview of the current European initiatives to meet this challenge, presenting an assessment from a central banking perspective.
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