Transnational law beyond bi-polarity : the FSB key attributes of effective resolution regimes for financial institutions in national, European and transnational Law

Abstract

According to Jessup, the field of transnational law studies those aspects of law that are neither national nor international. The common challenge of the field is to overcome the tension between the non-state regulatory phenomena that it studies and the state origin of the lens – law – that it uses. This thesis structures one particular debate in transnational law – the resolution of large financial institutions in national, European, and transnational law - according to this challenge, by critically examining the notion of bi-polarity, defined as the reliance on distinctions that are based on the distinction between non-state and state. The proposed framework – formalized as a matrix with six rows that distinguish the parameters to understand the implications of the non-state/state distinction and three columns that represent the legal contexts in which transnational phenomena affect law - illustrates the current debate on transnational law and its need to overcome bi-polarity.