Entrou em efeito a diretiva europeia que protege os contribuintes de serem os primeiros a pagar pela falência de um banco. Na linha da frente passam a estar acionistas e credores.
"The directive establishes a bail-in system which will ensure that taxpayers will be last in the line to pay the bills of a struggling bank. In a bail-in, creditors, according to a pre-defined hierarchy, forfeit some or all of their holdings to keep the bank alive. The bail-in system will apply from 1 January 2016.
The bail-in tool set out in the directive would require shareholders and bond holders to take the first big hits. Unsecured depositors (over €100,000) would be affected last, in many cases even after the bank-financed resolution fund and the national deposit guarantee fund in the country where it is located have stepped in to help stabilise the bank. Smaller depositors would in any case be explicitly excluded from any bail-in.
To improve a struggling bank’s recovery prospects and foster general economic stability, bail-ins would apply at least until 8% of its total assets have been lost. In most cases, this would mean shareholders and many bondholders would be wiped out. Above this threshold, the resolution authority may allow the bank to access resolution fund money up to a maximum of 5% of the bank's assets.
A member state could lodge a request with the Commission to exempt certain creditors from bail-in on an exceptional and case by case basis. The Commission would have the right to object. Moreover such exemptions would still mean that the bank would need to find 8% of its assets to bail-in before it could hope to tap other funds."
Bail-in vs. Bail-out
"Bail-out is when outside investors rescue a borrower by injecting money to help service a debt. Bail-outs of failing banks in Greece, Portugal and Iceland were primarily financed by taxpayers.
By contrast, a bail-in forces the borrower's creditors to bear some of the burden by having part of the debt they are owed written off.
At the height of the financial crisis, governments avoided resorting to bail-ins out of concern that it might cause panic among the creditors of other banks; even the bondholders of Irish banks were initially spared.
But as time has passed, and the cost of government bail-outs has risen, the appeal of asking private-sector investors to take a hit has increased."
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