The resolution of cross-border banks: Issues for deposit insurers and proposals for cooperation
AbstractThis paper reviews critical legal and policy issues created by cross-border banking insolvencies. These include (I) Insolvency principles, such as (1) criteria for intervention; (2) deposit insurance; (3) power to manage; (4) ability to maximize recoveries. Also included is (II) International legal complications. Critical issues in cross-border crisis management involve: (1) division of labor between home and host countries; (2) the availability of information; (3) the legal, regulatory and supervisory framework; (4) the law governing initiation of proceedings; (5) grounds for intervention; (6) deposit insurance; (7) legal powers of controlling authorities; (8) the potential financial and economic effects. We conclude with a few proposals for cooperation.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Financial Stability.
Volume (Year): 4 (2008)
Issue (Month): 4 (December)
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Web page: http://www.elsevier.com/locate/jfstabil
Cross-border banking insolvency Home/host regulatory powers Insolvency laws;
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