Responding to lessons learned during the global financial crisis, the EU Directive on the Recovery and Resolution of Banks and Securities Firms (the BRRD) has substantially changed the legal framework for insolvency management of financial services institutions across Europe. As thelegislative process has been completed with the adoption of the BRRD, and of Regulation No 806/2014 establishing the Single Resolution Mechanism, this book offers a unique insight into the new European framework for the resolution of banks in distress.The chapters in this volume take stock of what has been achieved and present an insightful analysis of both the technical framework and its impact on banking institutions and their counterparties in representative forms of banking activities, including retail and wholesale depositors, counterpartiesto financial directives, and the providers of relevant parts of the market infrastructure. Special attention is given to the international coordination of resolution. The book's focus is on resolution and its impact on the relationships between banks, customers, other market participants and marketinfrastructure, including the preventative requirements on recovery and resolution planning under the BRRD.The chapters bring together a wide range of perspectives by scholars, practitioners from regulatory authorities and other parts of the financial safety net, as well as from private practice, from many jurisdictions, and both legal and economic backgrounds. Arranged broadly in line with the structureof the BRRD, the book is a highly useful reference for practitioners, policy-makers, and academics alike.