Q&A: SRB’s Elke König on resolution regimes
Derivatives should not be regarded as sacrosanct in resolution planning, and structured notes may end up in or out of banks’ loss-absorbing capacity, says Elke König, chair of the eurozone’s Single Resolution Board
One advantage of playing catch-up is that laggards can look at what others are doing and improve on it. The eurozone is hoping to do just that with its bank resolution authority – the Single Resolution Board (SRB), which held its first meeting on March 25. Its US counterpart, the Federal Deposit Insurance Corporation (FDIC), was established in 1933, in the depths of the Great Depression, giving it an 82-year head start, and US banks have been submitting ‘living wills' to the FDIC since 2012.
Elk
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