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From the magazine SZW-RSDA 6/2018 | S. 619-638 The following page is 619

TBTF: Do increased capital requirements, bail-in powers and resolution ­authority solve the problem?

In the wake of the financial crisis of 2008, governments across the world decided that it was time to end the bail-out of too-big-to-fail financial institutions. This article considers the strategies deployed in Switzerland to solve the problem: increased capital requirements, including leverage ratios and liquidity requirements, funding of the resolution in the event of a gone-concern, resolution measures, through bail-in powers and the authority to transfer assets, liabilities and live agreements to another financial institution, as well as the resolution stay, and finally, organizational measures, which were not imposed through rules, but rather implemented through a carrot-and-stick approach using positive incentives and regulatory sanctions, to nudge financial institutions to improve their resolvability. In conclusion, we take stock by looking back at what was achieved, but also consider the risks that come with the increased powers granted to regulators and supervisory…

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