TY  - BOOK
AU  - Blazsek,Virág
TI  - Banking Bailout Law: A Comparative Study of the United States, United Kingdom and the European Union
T2  - Routledge Research in Finance and Banking Law Series
SN  - 9781000208344
AV  - KF975 .B539 2021
U1  - 346.082 
PY  - 2020///
CY  - Oxford
PB  - Taylor & Francis Group
KW  - Bank failures-Law and legislation-United States
KW  - Electronic books
N1  - Cover -- Half Title -- Series -- Title -- Copyright -- Dedication -- Contents -- List of tables -- Table of abbreviations -- Foreword -- Acknowledgements -- Introduction -- I The ambivalent nature of bailouts -- II Bank bailouts and sovereign indebtedness -- III Bailout policy approaches -- Part 1 Comparative analysis and systematization of bank bailouts in the selected jurisdictions -- 1.1 Introduction -- 1.1.1 The method of systematization of bailouts -- 1.1.2 The measure of success in the case of bank bailouts -- 1.2 A systematization of bank bailouts -- 1.2.1 Equity versus bond-based bank bailouts-an essential US-EU difference -- 1.2.2 International, supranational, private versus public bank bailouts -- 1.2.3 A purpose-based systematization -- 1.2.3.1 Economic efficiency-based or illiquidity-related bank bailouts -- 1.2.3.2 Non-economic efficiency-based or politically motivated bank bailouts -- 1.2.3.2.1 Unavoidable bailout of state-controlled banks bailouts -- 1.2.3.2.2 Massive insolvency-induced bank bailouts -- 1.2.3.2.3 Unjustifiable or disqualifying bank bailouts -- 1.2.4 A method-based systematization -- 1.2.4.1 Monetary policy, fiscal policy and economic policy-related methods -- 1.2.4.2 Bank bailout methods tested through the lens of the Bagehot Dictum -- 1.2.4.3 Individual bank bailouts and system-wide bank bailout schemes -- 1.3 A catalogue and assessment of bank bailout cases -- 1.3.1 The United States-a comprehensive and diverse bailout response -- 1.3.1.1 Fannie Mae and Freddie Mac-nationalization of the US mortgage finance market -- 1.3.1.2 Bear Stearns-central bank-facilitated private bailout -- 1.3.1.3 The AIG bailout-de facto nationalization of the principal US mortgage insurer -- 1.3.1.4 The Temporary Liquidity Guarantee Program of the FDIC -- 1.3.1.5 The commercial paper funding facility of the Federal Reserve; 1.3.1.6 The TARP bank bailouts-sector-wide, equity-based bailout scheme -- 1.3.2 The European Union-fragmented responses and a dominance of nationalization -- 1.3.2.1 Bank bailout-related state aid practice of the EU Commission -- 1.3.2.2 The bond-based ESM bailout of the Spanish financial sector (2012-2013) -- 1.3.3 The United Kingdom-nationalizations and the negotiation-based bail-in pattern -- 1.3.3.1 Financial support measures to the banking industry in the UK (2008-2010) -- 1.3.3.2 Restructuring of Lloyds Banking Group (2008-2015) -- 1.3.3.3 Restructuring of Royal Bank of Scotland (2008-2014) -- 1.3.4 Spain-a complete reorganization of the financial sector using EU funds -- 1.3.4.1 The Spanish Guarantee Schemes (2008-2011, 2012-2013) -- 1.3.4.2 Reverse auctions, with the state being the only buyer (2008-2012) -- 1.3.4.3 The Spanish bank recapitalization scheme (through the FROB) (2010, 2012) -- 1.3.4.4 Bank bailouts financed from the ESM Loan (2012-2013) -- 1.3.4.5 Rescue measures in favor of BFA/Bankia (2012) -- 1.3.4.6 Nationalization, recapitalization and resale of Banco de Valencia S.A. (2012) -- 1.3.5 Hungary-governmental bank acquisitions -- 1.3.5.1 IMF-EU-World Bank stand-by credit for Hungary (2008-2016) -- 1.3.5.2 Hungarian Liquidity Scheme (2009-2013) -- 1.3.5.3 Hungarian Bank Support Scheme (recapitalization and guarantee) (2008-2013) -- 1.3.5.4 Recapitalization of FHB Mortgage Bank (2009-2010) -- 1.3.5.5 Restructuring of MKB Bank without bail-in (2015-2016) -- 1.4 Conclusion -- Part 2 The current legal-regulatory framework of bank bailouts -- 2.1 Introduction -- 2.2 International financial regulation and bank bailouts -- 2.2.1 The bailout function of the IMF -- 2.2.2 The BIS and the Basel III criteria of the Basel Committee -- 2.2.3 Recommendations of the Financial Stability Board -- 2.2.4 International financial reporting standards; 2.2.5 International investment treaties and bank bailouts -- 2.2.6 International credit rating agencies -- 2.3 The US legal-regulatory framework on bank bailouts -- 2.3.1 The US origins of sovereign debt ceiling rules -- 2.3.2 The Federal Reserve and its bailout tools -- 2.3.3 The anti-bailout provisions of the 2010 Dodd-Frank Act -- 2.3.4 The FDIC-the US deposit insurance scheme -- 2.3.5 Bank-specific insolvency proceedings -- 2.3.6 Capital and liquidity requirements -- 2.4 The EU legal-regulatory framework on bank bailouts -- 2.4.1 The European Stability Mechanism-euro area crisis fund for sovereign bailouts -- 2.4.2 European deposit insurance and European investor compensation schemes -- 2.4.3 The ECB and the Single Supervisory Mechanism -- 2.4.4 The bank resolution regime of the EU-bank bailouts in the era of the 2014 BRRD -- 2.5 The UK legal-regulatory framework on bank bailouts -- 2.5.1 Bank bailout tools of the Bank of England -- 2.5.2 Bank-specific insolvency proceedings in the UK -- 2.5.3 The UK deposit insurance and investor compensation schemes -- 2.6 The Spanish legal-regulatory framework on bank bailouts -- 2.6.1 Fighting public indebtedness: the new constitutional debt ceiling rules -- 2.6.2 The single bank bailout tool of the Bank of Spain -- 2.6.3 Bank-specific insolvency proceedings in Spain -- 2.6.4 The Spanish deposit guarantee and investor compensation schemes -- 2.7 The Hungarian legal-regulatory framework on bank bailouts -- 2.7.1 New constitutional debt ceiling and statutory authorization for bank bailouts -- 2.7.2 The bank bailout tools of the MNB -- 2.7.3 Bank-specific insolvency proceedings in Hungary -- 2.7.4 The Hungarian deposit insurance and investor protection schemes -- 2.8 Conclusion -- Part 3 The building blocks of banking bailout law -- 3.1 Introduction -- 3.2 The building blocks of banking bailout law; 3.2.1 The rule of law -- 3.2.2 Investor confidence-the legal aspects of business culture -- 3.2.3 International coordination, the international dimension of banking bailout law -- 3.2.4 International indirect bank bailout tools -- 3.2.5 Constitutional rules on public finances -- 3.2.6 Ex ante system-wide solutions versus ex post assessment -- 3.2.7 Central banks' monetary policy tools -- 3.2.8 Treasury fiscal policy tools -- 3.2.9 Rating agencies' regulation and alternative rating tools -- 3.2.10 Deposit insurance and investor compensation schemes -- 3.2.11 Bank-specific insolvency proceedings -- 3.2.12 Corporate governance -- 3.2.13 Consumer protection -- 3.3 The principles of banking bailout law -- 3.4 Conclusion -- Conclusion -- I Main findings -- II The limits of this book -- III Concluding remarks -- Bibliography -- Index
N2  - Setting forth the building blocks of banking bailout law, this book reconstructs a regulatory framework that might better serve countries during future crisis situations. It will be of interest of anyone in the field of finance, banking, central banking, monetary policy and insolvency law
UR  - https://ebookcentral.proquest.com/lib/orpp/detail.action?docID=6331455
ER  -