Bank Recovery and Resolution: An Italian Point of View

The author examines the main legal aspects of the Single Resolution Mechanism as provided by the Directive no. 59 of 15 May 2014 and the Regulation no. 806 of 15 July 2014. After finding a definition tailored on the term “resolution”, the author pays particular attention to some important aspects as: recovery plan, preventive measures, early intervention measures and the resolution. As regards the latter one, the author examines especially all resolution instruments like the “sale of business tool”, the “bridge institution tool”, the “asset separation tool” and the “bail-in tool” noting in particular the effects of the application of those tools on stakeholders and their impact on the Italian banking legal system. Finally, considering the drastic nature of the last tool, the author put in the light an important doctrinal debate, i.e. the compatibility of that tool (and more generally the provisions of the Directive) with the article 47 of the Italian Constitution