A European Resolution Regime for Central Securities Depositories? Some Reflections

Abstract

This article explores the case for, and the possible contents of, a European resolution regime for Central Securities Depositories, and examines developments in the course of the last decade that may have reinforced the case for reflection on the need for its eventual introduction. The article also explores accessory policy objectives whose eventual achievement could be facilitated by the existence of a harmonised resolution regime for European Central Securities Depositories. Central Securities Depositories, resolution, legal and policy considerations, resolution objectives, interaction with CSDR and other harmonisation initiatives