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The most difficult dossier in the post-crisis regulatory response is undoubtedly international bank resolution procedures. Paraphrasing the famous Mervyn King quote, there is no such a thing as an international framework to deal with dead or moribund banks. On the one hand, the European Commission has early this year started a wide-ranging consultation that seems to predict a very ambitious agenda for an EU-wide bank resolution framework, but past evidence suggests that this will be very difficult. Bank resolution falls under company law, where EU harmonization has advanced hardly so far. On the other hand, the EU has considerable ‘indirect’ bank resolution powers, under the EU’s state aid competences, but they only apply to EU headquartered banks. In some instances, the restructuring imposed on some large European banks by the EU’s state aid authorities is comparable to what resolution authorities should do, but the objectives are different. The newly created European Banking Authority will bring some new EU powers in the domain of bank resolution, and thus financial stability domain, but under severe constraints.