Improving the Monitoring of Cross-Border Banks in the EU: Towards a Common Framework on Crisis Management

Abstract

On 20 October 2009 the European Commission published a Communication entitled ‘An EU Framework for Cross-Border Crisis Management in the Banking Sector’. In this Communication the Commission considers tools that would be necessary to enable national banking supervisors to identify problems with banks and intervene at an early stage. Most importantly, the Communication deals with the issues of early intervention, resolution, and insolvency.