Description

About the Lecture

Bank resolution is a fairly new policy tool that enables highly specialist expert authorities to restructure banks in crisis situations to preserve financial stability. It was developed at the global level after the Great Financial Crisis to address the Too Big To Fail-issue. The banking turmoil in the US and Switzerland in March 2023 provided a stark reminder of the relevance of these tools.

In the European Union, bank resolution rules were introduced roughly a decade ago. This lecture traces back their origins and provides an introduction to the main features of the Single Resolution Mechanism in the European Banking Union and with the Single Resolution Board at its core. It will examine how the EU banking resolution framework has been applied, what has been achieved and what have been the main lessons learnt so far. Finally, the lecture will offer an outlook on the remaining challenges and the future of this crucial policy tool for financial stability.

About the Speaker

Dr Karl-Philipp Wojcik has been the General Counsel of the Single Resolution Board (SRB) since 2020. The SRB is the central resolution authority within the Banking Union which is comprised of the 20 EU countries whose currency is the Euro and Bulgaria. Before joining the SRB, Dr Wojcik was a Member of the European Commission’s Legal Service, held previous positions in international law firms and was a judge in Germany.