Developing Distress Resolution Procedures for Financial Institutions
This paper focuses on the need for a lex specialis for resolution of insolvent banks and other financial institutions serving similar functions, and on requirements for making resolution procedures effective. After a review of the objectives of general insolvency law and the special characteristics of banks and the financial system, approaches to resolution procedures in a few “model countries” are described. The issues that require attention in legislation for resolution procedures are identified as the contagion issue, the valuation issue, the predictability issue, the information issue, the coverage issue, the funding issue and the cross-border issue. Complementary reforms of the financial architecture that would enhance the effectiveness of legislation for resolution procedures are discussed as well
(This abstract was borrowed from another version of this item.)
|This chapter was published in: ||This item is provided by SUERF - The European Money and Finance Forum in its series Chapters in SUERF Studies with number
71-1.||Handle:|| RePEc:erf:erfssc:71-1||Contact details of provider:|| Postal: SUERF c/o OeNB, Otto-Wagner-Platz 3, A-1090 Vienna, Austria|
Phone: +43/1/404 20 7216
Fax: +43/1/404 20 7298
Web page: http://www.suerf.org
More information through EDIRC
|Order Information:|| Postal: SUERF c/o OeNB, Otto-Wagner-Platz 3, A-1090 Vienna, Austria|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robert A. Eisenbeis & Larry D. Wall, 2002. "Reforming deposit insurance and FDICIA," Economic Review, Federal Reserve Bank of Atlanta, issue Q1, pages 1-16.
- IV, Thomas J. Fitzpatrick & Kearney-Marks, Moira & Thomson, James B., 2012. "The history and rationale for a separate bank resolution process," Economic Commentary, Federal Reserve Bank of Cleveland, issue Feb.
- Clas Wihlborg & Shubhashis Gangopadhyay, 2001. "Infrastructure Requirements in the Area of Bankruptcy Law," Center for Financial Institutions Working Papers 01-09, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Clas Wihlborg & Larry Wall & Maria. J Nieto & Thomas F. Huertas & Gillian G.H. Garcia & George G.Kaufman & David G. Mayes & Robert A.Eisenbeis & Rosa M. Lastra, 2007. "Prompt Corrective Action & Cross-Border Supervisory Issues in Europe," FMG Special Papers sp171, Financial Markets Group.
- Fitzpatrick, Thomas J. & Thomson, James B., 2011. "An end to too big to let fail? The Dodd-Frank Act's orderly liquidation authority," Economic Commentary, Federal Reserve Bank of Cleveland, issue Jan.
When requesting a correction, please mention this item's handle: RePEc:erf:erfssc:71-1. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dragana Popovic)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.