Hardback
Research Handbook on State Aid in the Banking Sector
The Research Handbook on State Aid in the Banking Sector brings together experts in state aid and in financial regulation, drawn from legal academia, legal practice, economics, and from the EU and EEA institutions to shed light on this relationship. The editors and expert contributors do this by elucidating key concepts that underpin the application of state aid law to banks, and by considering specific aspects of the interface between state aid and financial regulation. The Research Handbook''s analysis is complemented by a number of key country-based case studies, and by a concluding section which takes stock of the Banking Union’s package of legislative/regulatory reforms and reflects on the possible future role of state aid in this sector.
More Information
Critical Acclaim
Contributors
Contents
More Information
The global financial crisis that struck Europe has profoundly affected its political, economic and regulatory landscape. This Research Handbook provides an inter-disciplinary view of State interventions in the banking sector, their control under State aid rules since the financial crisis of 2008 and the progressive emergence of a pan-European regulation of banks in distress.
Assessing the policy of bank rescues over the past nine years provides a striking summary of European successes and failures and of the continuing tension between integration and fragmentation forces at play within the EU and its single market. This Research Handbook offers insights from law and economics – on the extent to which the EU/EEA State aid regime is able to address adequately the concerns of financial regulation without losing sight of its primary purpose. The contributors include academics, specialists in financial regulation, lawyers, economists and regulators, who have all followed or been directly involved in cases relating to the financial crisis.
The Research Handbook on State Aid in the Banking Sector will appeal to advanced students and academics in law and economics, particularly those with an interest in financial institutions, governance and banking.
Assessing the policy of bank rescues over the past nine years provides a striking summary of European successes and failures and of the continuing tension between integration and fragmentation forces at play within the EU and its single market. This Research Handbook offers insights from law and economics – on the extent to which the EU/EEA State aid regime is able to address adequately the concerns of financial regulation without losing sight of its primary purpose. The contributors include academics, specialists in financial regulation, lawyers, economists and regulators, who have all followed or been directly involved in cases relating to the financial crisis.
The Research Handbook on State Aid in the Banking Sector will appeal to advanced students and academics in law and economics, particularly those with an interest in financial institutions, governance and banking.
Critical Acclaim
‘For all these reasons, this monograph is definitively recommended to practitioners and academics interested in the State aid field, but also for policy analysts, political scientists and generally for students of EU law. They will benefit from an overarching work that provides not only a detailed account of the law and case law concerning the application of the State aid discipline to the financial sector, but also a rich understanding of the principles that underpin the new regulatory framework for bank resolution in the EU, and valuable hints into its likely coexistence with the State aid framework. The editors and authors of this work should thus be highly commended.’
– Juan Jorge Piernas López Murcia, Common Market Law Review
‘The Research Handbook on State Aid in the Banking Sector provides a wonderful and extensive insight into the state aid cases in the banking sector during the Great Financial Crisis (GFC). It brings together specialists from different angles as a result of which the book combines both the financial regulatory and state aid law angle. . .’
Journal of International Banking Law and Regulation
– Juan Jorge Piernas López Murcia, Common Market Law Review
‘The Research Handbook on State Aid in the Banking Sector provides a wonderful and extensive insight into the state aid cases in the banking sector during the Great Financial Crisis (GFC). It brings together specialists from different angles as a result of which the book combines both the financial regulatory and state aid law angle. . .’
Journal of International Banking Law and Regulation
Contributors
Contributors: C. Botelho Moniz, G. Bruzzone, M. Cassella, A. Champsaur, F. Coupé, F. de Cecco, J.-S. Duprey, S. Frisch, C. Froitzheim, P. Gouveia e Melo, J. Gray, V. Iftinchi, B. Joosen, I. Kokkoris, F.-C. Laprévote, S. Micossi, L. Nascimento Ferreira, P. Nicolaides, V. Power, C. Quigley, N. Robins, D.S. Tynes, S. Shamsi, P. Solomon
Contents
Contents:
Foreword
François-Charles Laprévote, Cleary Gottlieb Steen and Hamilton (CGSH)
Part I
1. The special nature of banks and its challenges for competition policy
Ioannis Kokkoris
2. Competition, stability and moral hazard: the tension between financial regulation and State aid control
Joanna Gray and Francesco de Cecco
3. State aid and the financial sector: the evolution of the legal framework of State aid law
Violeta Iftinchi
PART II
4. State aid to banking: application of the market economy investor principle
Phedon Nicolaides
5. The States’ toolkit for rescuing banks in difficulty
François-Charles Laprévote and Florine Coupé
6. Compensatory measures in the banking sector
Sahar Shamsi, Pantelis Solomon and Nicole Robins
7. Preserving cross-border banking in the face of the crisis: State aid policy under the financial trilemma
François-Charles Laprévote and Sven Frisch
PART III
8. Crisis aid to banks in Germany
Sven Frisch
9. The United Kingdom
Conor Quigley
10. Ireland
Vincent J.G. Power
11. State aid to banks in France
Claire Froitzheim
12. State aid to banks in Belgium
Jean-Sébastien Duprey
13. State intervention in the banking sector of The Netherlands
Bart P.M. Joosen
14. Southern Program Countries – Cyprus, Portugal, Spain
Carlos Botelho Moniz, Pedro de Gouveia e Melo and Luís do Nascimento Ferreira
15. Iceland
Dora Sif Tynes
Part IV
16. The new regulatory framework for bank resolution
Ginevra Bruzzone, Miriam Cassella and Stefano Micossi
17. Hand in hand or parallel paths? Reflections on the future coexistence of State aid control and bank resolution in the EU
François-Charles Laprévote and Amélie Champsaur
Index
Foreword
François-Charles Laprévote, Cleary Gottlieb Steen and Hamilton (CGSH)
Part I
1. The special nature of banks and its challenges for competition policy
Ioannis Kokkoris
2. Competition, stability and moral hazard: the tension between financial regulation and State aid control
Joanna Gray and Francesco de Cecco
3. State aid and the financial sector: the evolution of the legal framework of State aid law
Violeta Iftinchi
PART II
4. State aid to banking: application of the market economy investor principle
Phedon Nicolaides
5. The States’ toolkit for rescuing banks in difficulty
François-Charles Laprévote and Florine Coupé
6. Compensatory measures in the banking sector
Sahar Shamsi, Pantelis Solomon and Nicole Robins
7. Preserving cross-border banking in the face of the crisis: State aid policy under the financial trilemma
François-Charles Laprévote and Sven Frisch
PART III
8. Crisis aid to banks in Germany
Sven Frisch
9. The United Kingdom
Conor Quigley
10. Ireland
Vincent J.G. Power
11. State aid to banks in France
Claire Froitzheim
12. State aid to banks in Belgium
Jean-Sébastien Duprey
13. State intervention in the banking sector of The Netherlands
Bart P.M. Joosen
14. Southern Program Countries – Cyprus, Portugal, Spain
Carlos Botelho Moniz, Pedro de Gouveia e Melo and Luís do Nascimento Ferreira
15. Iceland
Dora Sif Tynes
Part IV
16. The new regulatory framework for bank resolution
Ginevra Bruzzone, Miriam Cassella and Stefano Micossi
17. Hand in hand or parallel paths? Reflections on the future coexistence of State aid control and bank resolution in the EU
François-Charles Laprévote and Amélie Champsaur
Index
