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Research Handbook on State Aid in the Banking Sector

Edited by François-Charles Laprévote, Cleary Gottlieb Steen and Hamilton, Brussels, Belgium, Joanna Gray, Birmingham Law School, University of Birmingham and Francesco de Cecco, Newcastle Law School, Newcastle University, UK
The Research Handbook on State Aid in the Banking Sector brings together experts in state aid and in financial regulation, drawn from legal academia, legal practice, economics, and from the EU and EEA institutions to shed light on this relationship. The editors and expert contributors do this by elucidating key concepts that underpin the application of state aid law to banks, and by considering specific aspects of the interface between state aid and financial regulation. The Research Handbook's analysis is complemented by a number of key country-based case studies, and by a concluding section which takes stock of the Banking Union’s package of legislative/regulatory reforms and reflects on the possible future role of state aid in this sector.
Extent: c 640 pp
Hardback Price: $330.00 Web: $297.00
Publication Date: December 2017
ISBN: 978 1 78347 807 1
Availability: Not yet published (pre-order)
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  • Economics and Finance
  • Financial Economics and Regulation
  • Money and Banking
  • Law - Academic
  • Competition and Antitrust Law
  • Finance and Banking Law
The global financial crisis that struck Europe has profoundly affected its political, economic and regulatory landscape. This Research Handbook provides an inter-disciplinary view of State interventions in the banking sector, their control under State aid rules since the financial crisis of 2008 and the progressive emergence of a pan-European regulation of banks in distress.

Assessing the policy of bank rescues over the past nine years provides a striking summary of European successes and failures and of the continuing tension between integration and fragmentation forces at play within the EU and its single market. This Research Handbook offers insights from law and economics – on the extent to which the EU/EEA State aid regime is able to address adequately the concerns of financial regulation without losing sight of its primary purpose. The contributors include academics, specialists in financial regulation, lawyers, economists and regulators, who have all followed or been directly involved in cases relating to the financial crisis.

The Research Handbook on State Aid in the Banking Sector will appeal to advanced students and academics in law and economics, particularly those with an interest in financial institutions, governance and banking.
Contributors include: C. Botelho Moniz, G. Bruzzone, M. Cassella, A. Champsaur, F. Coupé, F. de Cecco, J.-S. Duprey, S. Frisch, C. Froitzheim, P. Gouveia e Melo, J. Gray, V. Iftinchi, B. Joosen, I. Kokkoris, F.-C. Laprévote, S. Micossi, L. Nascimento Ferreira, P. Nicolaides, V. Power, C. Quigley, N. Robins, D.S. Tynes, S. Shamsi, P. Solomon
Contents:

Foreword
François-Charles Laprévote, Cleary Gottlieb Steen and Hamilton (CGSH)

Part I
1. The special nature of banks and its challenges for competition policy
Ioannis Kokkoris

2. Competition, stability and moral hazard: the tension between financial regulation and State aid control
Joanna Gray and Francesco de Cecco

3. State aid and the financial sector: the evolution of the legal framework of State aid law
Violeta Iftinchi

PART II
4. State aid to banking: application of the market economy investor principle
Phedon Nicolaides

5. The States’ toolkit for rescuing banks in difficulty
François-Charles Laprévote and Florine Coupé

6. Compensatory measures in the banking sector
Sahar Shamsi, Pantelis Solomon and Nicole Robins

7. Preserving cross-border banking in the face of the crisis: State aid policy under the financial trilemma
François-Charles Laprévote and Sven Frisch

PART III
8. Crisis aid to banks in Germany
Sven Frisch

9. The United Kingdom
Conor Quigley

10. Ireland
Vincent J.G. Power

11. State aid to banks in France
Claire Froitzheim

12. State aid to banks in Belgium
Jean-Sébastien Duprey

13. State intervention in the banking sector of The Netherlands
Bart P.M. Joosen

14. Southern Program Countries – Cyprus, Portugal, Spain
Carlos Botelho Moniz, Pedro de Gouveia e Melo and Luís do Nascimento Ferreira, Morais Leitão, Galvão Teles

15. Iceland
Dora Sif Tynes

Part IV
16. The new regulatory framework for bank resolution
Ginevra Bruzzone and Miriam Cassella

17. Hand in hand or parallel paths? Reflections on the future coexistence of State aid control and bank resolution in the EU
François-Charles Laprévote and Amélie Champsaur

Index