Cross-Border Cooperation in Bank Resolution: A Framework for Asia

Singapore Journal of Legal Studies, p.1-28, March 2016

28 Pages Posted: 11 Apr 2016 Last revised: 12 Apr 2016

See all articles by Vivien Chen

Vivien Chen

Monash University - Department of Business Law & Taxation

Andrew Godwin

Melbourne Law School

Ian Ramsay

Melbourne Law School - University of Melbourne

Date Written: March 1, 2016

Abstract

This paper identifies challenges to cross-border cooperation in Asia in the area of bank resolution and potential measures to enhance cooperation. In line with the consensus-based approach that is common in Asia, these measures include strengthening regulatory harmonisation and promoting convergence in supervisory practices through the use of non-binding guidelines. Drawing on the experience in the EU and the Trans-Tasman cooperation between Australia and New Zealand, the paper proposes that convergence-promoting functions be incorporated within existing institutions and considers the use of resolution colleges. In addition, acknowledging the preference in Asia for bilateral arrangements over multilateral arrangements, the paper suggests ways in which information sharing and recognition of foreign resolution action can be enhanced and draws on the experience of Singapore for this purpose.

Suggested Citation

Chen, Vivien and Godwin, Andrew and Ramsay, Ian, Cross-Border Cooperation in Bank Resolution: A Framework for Asia (March 1, 2016). Singapore Journal of Legal Studies, p.1-28, March 2016. Available at SSRN: https://ssrn.com/abstract=2762112

Vivien Chen (Contact Author)

Monash University - Department of Business Law & Taxation ( email )

Caulfield Campus
Sir John Monash Drive
Caulfield East, Victoria 3084
Australia

Andrew Godwin

Melbourne Law School ( email )

185 Pelham Street
Carlton, Victoria 3053
Australia

Ian Ramsay

Melbourne Law School - University of Melbourne ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia
+61 3 8344 5332 (Phone)

HOME PAGE: http://law.unimelb.edu.au/about/staff/ian-ramsay

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