To ensure the safety and soundness of the global financial system as well as individual
financial institutions and to reduce systemic risk, numerous policy measures and regulatory …

This paper argues that the European Union's Banking Recovery and Resolution Directive
(BRRD) has improved market discipline in the European bank market for unsecured debt …

Europe's banking union, the project to pool responsibility for prudential policy at the
European Union level, became a reality in 2014 with the empowerment of the European …

Do current levels of bank capital in Europe suffice to support a swift recovery from the COVID-
19 crisis? Recent research shows that a well-capitalized banking sector is a major factor …

During the recent global financial crisis, the phrase" too big to fail" surfaced as a description
of financial institutions that are so large and so interconnected with other financial …

The bail-in tool as implemented in the European bank resolution framework suffers from
severe shortcomings. To some extent, the regulatory framework can remove the …

Banks considered too-big-to-fail (TBTF) tend to benefit from funding cost advantages as their
debt is considered implicitly guaranteed by public authorities, even if the latter have …

Using a diff-in-diff analysis, we compare the yield reaction of subordinated bonds to the
implementation of the Directive (EU) 2017/2399, for EU G-SIBs and smaller banks. We find …

The market discipline of creditors on the risk-taking behaviour of borrowing banks
represents a long-lasting debate. Such a debate gained new attention after the post-crisis …

This study analyses in a systematic way (albeit on a selective basis) the evolution of the
case-law of the Court of Justice of the European Union (CJEU) in relation to the two pillars of …