Il Single Resolution Mechanism e i meccanismi di finanziamento: le nuove regole per la gestione delle crisi bancarie a livello europeo

By the agreement on the Single Resolution Mechanism (SRM) is finally born an instrument of orderly resolution of banks and other financial institutions, which integrates the legal framework of the Banking Union, adding to the already existing regulations of the unique system of supervision. Ensuring that supervision and crisis resolution are aligned centrally and supported by adequate funding arrangements, the Mechanism will allow to manage banking crises more efficiently in the banking union and help to break the link between crisis sovereign debt and banks. The European legal framework for bank resolution provides for harmonization of national systems, with common tools of prevention (recovery and resolution plans), early intervention and resolution (bridge bank, sale of assets, tools of bail-in). It also provides for the establishment of national funds for a resolution, which should serve to support the reorganization. After outlining the main changes introduced by the new rules, the purpose of this paper is to analyze in detail those parts of the complex architecture that were more uncertain and subject to heated discussions.