КЪМ СЪЗДАВАНЕ НА ИСТИНСКИ РЕЖИМ ЗА ПРЕОБРАЗУВАНЕ НА БАНКИ В ЕВРОПЕЙСКИЯ СЪЮЗ
Резюме
Проследена е еволюцията на идеите и предложенията на Европейската комисия (ЕК) за създаване на истински режим за преобразуване на кредитните институции в държавите-членки и в Банковия съюз. Разгледан е въпросът за общия режим на преструктуриране, който предстои да бъде въведен с Директивата за възстановяване и оздравяване на банки и да послужи като основа за функционирането на Единния механизъм за преобразуване (ЕМП) в рамките на този съюз. Анализът е фокусиран върху харак терните черти на инструмента за покриване на загуби от акционерите и кредиторите на институцията (bail-in)2 като алтернатива на покриването на загуби с публични средства (bail-out). Специален акцент е поставен върху провеждащия се в институциите на ЕС дебат относно избрани ключови въпроси, свързани с преобразуването на банки и инструмента bail-in, от кроени при сравняване на първоначалното предложение на Комисията за Директива за възстановяване и оздравяване на банки и постигнатото в Съвета съгласие относно общия подход към нея.
JEL класификация
Литература (библиография)
Jianping Zhou, V. Rutledge, W. Bossu, M. Dobler, N.Jassaud, and M. Moor. (2012). From Bailout to Bail in: Mandatory Debt Restructuring of Systemic Financial Institutions. IMF
Roussenova, L. (2011). (Rapporteur), Opinion of the European Economic and Social Committee on the Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee, the Committee of the Regions and the European Central Bank - An EU Framework for Crisis Management in the Financial Sector, COM (2010) 579 final, OJ of the EU, C 248/101, 25.08.2011
Roussenova, L. (2013). (Rapporteur), Opinion of the European Economic and Social Committee on the ‘Proposal for a Directive of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directives 77/91/EEC and 82/891/EEC, Directives 2001/24/EC, 2002/47/EC, 2004/25/EC,
2005/56/EC, 2007/36/EC and 2011/35/EU and Regulation (EU) No 1093/2010’ COM (2012) 280 final — 2012/0150 (COD), OJ of the EU, C 44, 15.02.2013.
C (2013a). Council of the European Union, Council agrees position on bank resolution, Brussels, 27 June 2013 11228/13 PRESSE 270.
C (2013b). Council of the European Union, Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directives 77/91/EEC and 82/891/EC, Directives 2001/24/EC, 2002/47/EC,
2004/25/EC, 2005/56/EC, 2007/36/EC and 2011/35/EC and Regulation (EU) No 1093/2010 - General approach, Brussels, 28 June, 2013.
EC (2012a). European Commission, A ROADMAP TOWARDS A BANKING UNION, Communication from the Commission to the European Parliament and the Council, Brussels, 12.09.2012.
EC (2012b). European Commission, A BLUEPRINT FOR A DEEP AND GENUINE EMU, Communication from the Commission, Brussels, 28.11.2012
EC (2013a). European Commission, Commission Proposes Single Resolution Mechanism for the Banking Union, European Commission Press Release, Brussels, 10 July, 2013.
EC, MEMO (2013). European Commission, MEMO, Brussels, 10 July 2013 EC (2012c). European Commission, Proposal for a DIRECTIVE OF THE
EUROPEAN PARLIAMENT AND OF THE COUNCIL establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directives 77/91/EEC and 82/891/EC, Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC and 2011/35/EC and Regulation (EU) No
1093/2010, Brussels, 6.6.2012.
EC (2013b). European Commission, Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Bank Resolution Fund and amending Regulation (EU) No 1093/2010 of the European Parliament and of the Council, Brussels, 10.07.2013.
FSB (2011). Financial Stability Board, Key Attributes of Effective Resolution Regimes for Financial Institutions, October 2011.
G20 (2009). G20 Leaders’ declaration of the Summit on financial markets and the world economy, April 2009.
IMF (2013a). IMF Country Report No 13/67, European Union: Publication of Financial Sector Assessment Program Documentation - Technical Note on Progress with Bank Restructuring and Resolution in Europe, March 2013, Washington D.C.
IMF (2013b). IMF Country Report No. 13/231, Euro area policies, 2013 Article IV consultation, July 2013, Washington D.C.