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The Economics of Bank Restructuring

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Author Info

  • Augustin Landier
  • Kenichi Ueda

Abstract

Based on a simple framework, this note clarifies the economics behind bank restructuring and evaluates various restructuring options for systemically important banks. The note assumes that the government aims to reduce the probability of a bank’s default and keep the burden on taxpayers at a minimum. The note also acknowledges that the design of any restructuring needs to take into consideration the payoffs and incentives for the various key stakeholders (i.e., shareholders, debt holders, and government).

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Staff Position Notes with number 2009/12.

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Length: 39
Date of creation: 05 Jun 2009
Date of revision:
Handle: RePEc:imf:imfspn:2009/12

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Postal: International Monetary Fund, Washington, DC USA
Phone: (202) 623-7000
Fax: (202) 623-4661
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Web page: http://www.imf.org/external/pubind.htm
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Related research

Keywords: Asset liquidation; Asset management; Bank resolution; Bank restructuring; Banking sector; Banks; Debt restructuring; Economic models; recapitalization; probability of default; common equity; investors; bank asset; bank managers; bank examination; bank assets; subordinated debt; bank asset quality; deposit insurance; bank management; interbank market; future cash flows; systemic bank restructuring; investment program; national bank; cost of capital; discounted value; bankruptcy procedure; bank of england; investment decisions; liquidity constraints; asset management company; private investment; shareholder value; taxpayer money; banking; federal deposit insurance; risk premium; bank solvency; bank cash; bankrupt; regulatory reform; bank balance sheet; bankruptcy law; outstanding debt; bank operations; nationalized bank; bank guarantees; private equity; private investor; bank debt; present value; bank manager; bank run; mortgage lending; bank recapitalization; bank capital; bank issues; distressed bank; expected value; banks ? assets; private capital; current market price; disclosure requirements;

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Citations

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Cited by:
  1. Phillip Swagel, 2009. "The Financial Crisis: An Inside View," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 40(1 (Spring), pages 1-78.
  2. Landier, Augustin & Ueda, Kenichi, 2009. "True Taxpayer Burden of Bank Restructuring," IDEI Working Papers 662, Institut d'Économie Industrielle (IDEI), Toulouse, revised 16 Dec 2010.
  3. Marc Quintyn, 2009. "Methods for Restructuring Banks," CESifo DICE Report, Ifo Institute for Economic Research at the University of Munich, vol. 7(3), pages 3-8, October.
  4. Sudipto Bhattacharya & Kjell G. Nyborg, 2011. "Bank Bailout Menus," FMG Discussion Papers dp676, Financial Markets Group.
  5. Jimmy Melo, 2014. "Expectativas cambiarias, selección adversa y liquidez," Ensayos Revista de Economia, Universidad Autonoma de Nuevo Leon, Facultad de Economia, vol. 0(1), pages 27-62, May.
  6. Koziol, Christian & Lawrenz, Jochen, 2012. "Contingent convertibles. Solving or seeding the next banking crisis?," Journal of Banking & Finance, Elsevier, vol. 36(1), pages 90-104.

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