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Banking Crisis Resolution Policy - Lessons from Recent Experience - which elements are needed for robust and efficient crisis resolution?

  • David G. Mayes

The current financial crisis has sparked intense debate about how weak banks should be resolved. Despite international efforts to coordinate and converge on such policies, national policy advice and resolution practices differ. The resolution methods adopted in the Nordic banking crises in the 1990s are generally acknowledged to include important elements of “best practice”. But some of these lessons have proved hard to implement during the current crisis, and new policies have been developed as a response, particularly in the UK. Still, unresolved issues remain. These are discussed in a review of the resolution methods in the US, UK and NZ.

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Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 2823.

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Date of creation: 2009
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Handle: RePEc:ces:ceswps:_2823
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  1. Mayes, David G. & Nieto, María J. & Wall, Larry, 2008. "Multiple safety net regulators and agency problems in the EU: Is Prompt Corrective Action partly the solution?," Journal of Financial Stability, Elsevier, vol. 4(3), pages 232-257, September.
  2. Ostrup, Finn & Oxelheim, Lars & Wihlborg, Clas, 2009. "Origins and Resolution of Financial Crises; Lessons from the Current and Northern European Crises," Working Paper Series 796, Research Institute of Industrial Economics.
  3. David G. Mayes & Geoffrey Wood, 2008. "Lessons from the Northern Rock Episode," Economie Internationale, CEPII research center, issue 114, pages 5-27.
  4. Joe Peek & Eric S. Rosengren, 1996. "Will Legislated Early Intervention Prevent the Next Banking Crisis?," Boston College Working Papers in Economics 359, Boston College Department of Economics.
  5. Larry D. Wall, 2010. "Prudential Discipline for Financial Firms: Micro, Macro, and Market Structures," Working Papers id:3040, eSocialSciences.
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