kaal:claim:2061166-006

Mutual recognition of countercyclical capital buffers hollows out the national discretion the Commission proposal appears to grant: the financially strongest Member States with the largest financial sectors will effectively set the buffer size for smaller Member States whose institutions do business there.

Therefore, the financially stronger Member States with the largest financial sectors may dictate the size of countercyclical buffers for smaller Member States, thereby practically reducing any proposed national discretion.

Christoph K. Henkel, Wulf A. Kaal, Contingent Capital in European Union Bank Restructuring (2012), 3. Revisions of the Capital Requirements Directives, p. 25
https://ssrn.com/abstract=2061166 · source PDF

Christoph K. Henkel, Wulf A. Kaal, Contingent Capital in European Union Bank Restructuring (2012). SSRN: https://ssrn.com/abstract=2061166

• countercyclical buffers up to the 2.5 percent mutual recognition ceiling
• institutions with branches or subsidiaries in the buffer-setting Member State

mechanismsupport: arguedfailure: Mutual recognition collapses national buffer discretionfamily: jurisdictional-conflictinstitutional-design

The quote above is an exact substring of the source PDF, whose sha256 is 43625ea260d0fc045e86d3435df50c9d0ca4abf8542e6085a6165be6653b4a7b. Extraction method: pdf-text-layer.
Attestation record: colloquium/attestations/ed0f4917e5a63238...json
Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/2061166-006.md | sha256sum