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The Case for Rapid Resolution Plans

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  • Richard J. Herring

    ()
    (The Wharton School, University of Pennsylvania, USA)

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    Abstract

    During the peak of the financial crisis, the Group of Twenty met to determine how to repair the financial system and prevent a similar crisis from erupting in the future. They agreed to introduce a new kind of tool to counter the too big to fail problem: rapid resolution plans. Within the framework established by the Financial Stability Board, most high-income countries are attempting to implement this concept to enable them to resolve a large, troubled institution rapidly while preserving its systemically important functions, but without disrupting the rest of the financial system. This paper highlights the challenge that international corporate complexity poses for the effective implementation of rapid resolution policy.

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    File URL: http://www.bapress.ca/ref/v3-2/1923-7529-2013-02-01-17.pdf
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    Bibliographic Info

    Article provided by Better Advances Press, Canada in its journal Review of Economics & Finance.

    Volume (Year): 3 (2013)
    Issue (Month): (May)
    Pages: 1-17

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    Handle: RePEc:bap:journl:130201

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    Related research

    Keywords: Resolution; Too big to fail; Systemically important financial institutions; Corporate structure;

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    1. Rong Qian & Carmen M. Reinhart & Kenneth Rogoff, . "On Graduation from Default, Inflation and Banking Crises: Elusive or Illusion?," Working Paper 14879, Harvard University OpenScholar.
    2. Carola Frydman & Raven E. Saks, 2008. "Executive Compensation: A New View from a Long-Term Perspective, 1936-2005," NBER Working Papers 14145, National Bureau of Economic Research, Inc.
    3. Guttentag, Jack & Herring, Richard, 1984. " Credit Rationing and Financial Disorder," Journal of Finance, American Finance Association, vol. 39(5), pages 1359-82, December.
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