title: The New Banking Crisis Resolution Mechanism Introduced in Italy Implementing Bail-in Measures: Issues of Constitutionality
metadata.name: dc.contributor.author
metadata.value: Rimini, Emanuele
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Picciau, Chiara
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2017-07-18T14:45:56Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2017-07-18T14:45:56Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2017-06
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Rimini E., Picciau Ch. The New Banking Crisis Resolution Mechanism Introduced in Italy Implementing Bail-in Measures: Issues of Constitutionality. Vestnik SPbSU. Law, 2017, vol. 8, issue 2, pp. 150–172.
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: 10.21638/11701/spbu14.2017.203
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/6910
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: The article intends to provide an initial analysis of the controversial issues regarding the constitutionality
  of bail-in and other resolution measures provided by Directive 2014/59/EU, as implemented by
  the Italian legislative decree No. 180 of November 16, 2015. According to the new rules, the Bank of
  Italy, which is also the competent supervisory authority, may mandate creditors to participate and
  contribute to the bank’s refinancing in cases of financial distress or of possible collapse, through forced
  debt conversions or debt write-downs (the so called “bail-in”). The feasibility of this regulatory tool
  gives rise to numerous doubts and concerns with regards to its compliance with constitutional principles.
  In particular, with those principles underlying the right to property and the defense of patrimonial
  rights under Private Law, for the significant compression that it could entail with respect to
  the rights of shareholders and creditors of financial institutions in distress. Surely, the public interest
  in the proper operation of the banking sector and the functioning of financial markets represents the
  necessary assumption underlying all legislative interventions on bank recovery systems. However, the
  tendency is that of expanding their reach beyond control, as long as equal and uniform treatment is
  granted to those pertaining to the same category of investors. To the contrary, the Private Law of banking
  institutions and financial markets requires a continuous and mutual balancing of constitutional
  values and principles, without any pretense of absoluteness, in order to reconcile the need to safeguard
  investor rights and private property within the protection of the banking and financial sector. Refs 25.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: ru
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: Vestnik of St Petersburg University. Law;Volume 8; Issue 2
metadata.lang: -
metadata.name: dc.subject
metadata.value: bail-in
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: banking crisis
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: resolution of financial institutions
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: right to property
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: expropriation measures
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: The New Banking Crisis Resolution Mechanism Introduced in Italy Implementing Bail-in Measures: Issues of Constitutionality
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 03-Rimini.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/6910/1/03-Rimini.pdf
resources.format: Adobe PDF
resources.size: 720,5 kB