Two Approaches to Resolving Nonperforming Assets During Financial Crises
AbstractThe unprecedented rise in nonperforming assets during the recent Asian financial crisis severely tested the limit and capacity of the existing asset management infrastructure, leading policymakers to consider new approaches to resolve them. This paper examines two such approaches—the creation of asset management companies and the development of out-of-court centralized corporate debt workout frameworks—that came to define the core asset management setting in countries most seriously affected by the crisis. In addition to investigating their respective role, and evaluating their strengths and weaknesses, this paper seeks to benchmark some best practices in their design.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 00/33.
Date of creation: 01 Feb 2000
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- Gary Gorton & Lixin Huang, 2002.
"Liquidity, Efficiency and Bank Bailouts,"
Center for Financial Institutions Working Papers
02-33, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Miroslav Kollár & Luboš Komárek, 2009. "Selective Approaches and Experiences with Problematic Assets in Banking Sector," Politická ekonomie, University of Economics, Prague, vol. 2009(5), pages 601-621.
- He, Dong, 2002. "Resolving Non-performing Assets of the Indian Banking System," MPRA Paper 9758, University Library of Munich, Germany.
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