The recent crisis in the financial markets has demonstrated the importance of financial stability frameworks. Such frameworks include prevention, regulation, and supervision as well as procedures for orderly winding up insolvent financial institutions (bank resolution). There is a broad consensus that a financial stability framework should mitigate moral hazard, cope with the potential large losses stemming from inefficient bank resolution procedures and protect taxpayers’ money at the same time.
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The new Basel III measures, supervisory oversight arrangements, and banking stability initiatives are being discussed and implemented at the EU and the global level. These are shaping the EU regulatory and crisis management framework which will come on board in the near future.
The workshop organized by the World Bank and Polish Bank Guarantee Fund workshop gathered about 50 participants from Poland, Germany, Hungary, Croatia, Denmark, U.K and the Czech Republic. The discussion was rich and fruitful focusing on 4 main workshop’s objectives:
- to take stock of the EU and global financial framework used in bank resolution/insolvency,
- to discuss the newly proposed European bank crisis resolution mechanisms,
- to review some of the best practices internationally in bank resolution mechanisms,
- to assess the implications of the proposed reforms for the existing bank crisis resolution frameworks in Poland and in other Central European countries
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