Public funding of failing banks in the European Union (LBF vol. 19) 2020/6.6.3.3:6.6.3.3 Lack of harmonisation of national insolvency proceedings

Public funding of failing banks in the European Union (LBF vol. 19) 2020/6.6.3.3

6.6.3.3 Lack of harmonisation of national insolvency proceedings

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The lack of harmonisation of the national insolvency regimes contributes to the tension that exists between the resolution framework and the State aid regime for the banking sector.1 The cases of Banca Popolare di Vicenza and Veneto Banca are illustrative in that respect. In the absence of harmonised national insolvency proceedings, Italy could adopt a decree according to which liquidation measures could be taken in respect of failing banks outside the resolution framework and with the support of State aid.2

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