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UNIDROIT Consultation on Bank Liquidation

Dear members,

The International Institute for the Unification of Private Law (UNIDROIT) has launched a consultation on its Draft Legislative Guide on Bank Liquidation. The attached Draft Legislative Guide has been developed by the Working Group on Bank Insolvency, a group of international experts from different legal systems, as part of the Bank Insolvency Project conducted by UNIDROIT in cooperation with the BIS Financial Stability Institute.

The aim of the Draft Legislative Guide is to assist legislators and policymakers in designing effective bank liquidation regimes tailored to the special nature of banks and their role in society. The Guide focuses on “non-systemic banks”, thereby complementing existing international standards. Specifically, it provides guidance on frameworks for the orderly liquidation of (i) banks that are not placed under a resolution procedure compatible with the FSB Key Attributes, and (ii) parts of a bank following, or in the context of, a resolution action.

I am pleased to inform you that INSOL Europe has been invited by the Secretary-General of UNIDROIT, Prof. Ignacio Tirado, to give any feedback on the Draft Legislative Guide on Bank Liquidation, given its members’ expertise in this area. Possible comments may be submitted to the UNIDROIT Secretariat at mailto:LGBLconsultation@unidroit.org.

The consultation runs until 11 October 2024. All information regarding the consultation, including the text of the Draft Legislative Guide itself, is available on the dedicated consultation webpage. Should you have any questions, please do not hesitate to contact Ms Myrte Thijssen (mailto:m.thijssen@unidroit.org), the responsible Legal Officer for this project.

I would like to invite you to provide your feedback, if this falls within your area of expertise.

Please be aware that the Secretary-General of UNIDROIT, Prof. Ignacio Tirado, will be leading a panel on bank liquidation at our INSOL Europe 2024 Sorrento Congress on Friday 4 October from 17.00 where I expect to see many of you.

Your sincerely,

Giorgio Corno
President, INSOL Europe

Giorgio Corno
President of
INSOL Europe

INSOL Europe, PO Box 7149, Clifton, Nottingham. NG11 6WD
www.insol-europe.org

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