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Bank Resolution And Crisis Management

Author : Simon Gleeson
ISBN : 0199698015
Genre : Bank failures
File Size : 39. 20 MB
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The 2008 global financial crisis ushered in the biggest explosion in new bank regulation around the world since the Great Depression. Even more so than then, this new regulation has been coordinated on a global basis and reflects global standards as well as local idiosyncracies. Although governments and regulators have sought to put measures in place to prevent the failure of banks, they have acknowledged the need for measures to address what happens when banks fail or are threatened with failure and how to resolve such failure. Bank Resolution and Crisis Management: Law and Practice deals with the measures which European, U.S. and international law and policy makers have sought to put in place to deal with the threat of financial institutions failing, including enhanced supervision, early intervention and so called 'living wills'. Measures such as 'bail-out' (protecting private shareholders and creditors against losses) and 'bail-in' (imposing losses on shareholders and long-term creditors without causing contagion among short-term creditors) are discussed. The work includes comprehensive summaries and commentary on the EU Bank Recovery and Resolution Directive, the UK resolution laws including the Banking Act 2009 and amendments to that act, the Orderly Liquidation Authority under Title II of the U.S. Dodd-Frank Act, proposed new Chapter 14 to the U.S. Bankruptcy Code, and the bank resolution provisions of the U.S. Federal Deposit Insurance Act. The book also provides detailed commentary on the provisions in the Banking Act 2009 dealing with resolution, including discussion of the stabilization, bank administration and insolvency powers. This includes analysis of secondary legislation such as the Partial Transfers Order. Special emphasis is given to the practical effect of such measures on financial transactions and their impact on arrangements, such as netting and set-off. There is also commentary on the Financial Services Investor Compensation Scheme and its role in returning money to the depositors in a failing bank. The special position of failing investment banks is also a feature of the book. Coverage includes analysis of the legislation adopted to address the particular issues that arose in the failure of Lehman Brothers and the resulting litigation, particularly that relating to the recovery of client assets. This work will be invaluable for regulatory, transactional and insolvency lawyers and other professionals advising banks on their powers and governance processes, in structuring and documenting transactions and in dealing with banks in the course of insolvency proceedings.

Spain

Author : International Monetary Fund
ISBN : 9781475504323
Genre : Business & Economics
File Size : 24. 54 MB
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This technical note examines the safety net, bank resolution, and crisis management framework in Spain. The financial safety net architecture for the banking sector comprises the Banco de España (BdE), the Fondo de Garantía de Depósitos (FGD), and the Fondo de Reestructuración Ordenada Bancaria (FROB). The note discusses that institutional roles and instruments of the FROB and the FGD need to be realigned. Given the current crisis, authorities should make it a key priority to promptly improve the tools to resolve banks in line with recent international practices.

Financial Crisis Management And Bank Resolution

Author : John Raymond LaBrosse
ISBN : 9781000285895
Genre : Law
File Size : 24. 44 MB
Format : PDF
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Financial Crisis Management and Bank Resolution provides an analysis of the responses to the recent crisis that has beset the international financial markets taking a top down approach looking at the mechanisms to manage a financial crisis, to the practicalities of dealing with the resolution of a bank experiencing distress. This work is an interdisciplinary analysis of the law and policy surrounding crisis management and bank resolution. It comprises contributions from a team of leading experts in the field that have been carefully selected from across the globe. These experts are drawn from the law, central banks, government, financial services and academia. This edited collection will provide a new and important contribution to the subject at a crucial time in the debate around banking resolution and crisis management regimes, and help to plug the gap in our knowledge and understanding of the law of bank resolution and restructuring.

Czech Republic

Author : International Monetary Fund
ISBN : 9781475506198
Genre : Business & Economics
File Size : 86. 21 MB
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The Czech financial system is confronted with mounting risks that stem mainly from negative developments in the European Union (EU). This technical note focuses on crisis management and bank resolution framework for the Czech Republic. It summarizes the high-level observations of the mission based on its key findings and recommendations, and analyzes the existing institutional framework and coordination arrangements for crisis management. The note also examines the cross-border dimension of crisis preparedness and crisis management tools.

Italian Banking And Financial Law Crisis Management Procedures Sanctions Alternative Dispute Resolution Systems And Tax Rules

Author : D. Siclari
ISBN : 9781137507624
Genre : Business & Economics
File Size : 82. 16 MB
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Within an environment made difficult by the continuing economic crisis, the Italian model for crisis management and resolution has helped to avoid many difficulties faced by intermediaries across the globe. However, the Italian model for crisis management will be forced to adapt to the new EU Bank Recovery and Resolution Directive, which introduces a unified regime for such events in all EU countries. This book explores the various methods for crisis management employed in Italian finance. The authors discuss procedures used in the banking and insurance sectors, such as deposit guarantee schemes and alternative dispute resolution systems. They also explore the evolution of the administrative sanctioning systems, and the roles of tax rules and credit rating agencies in Italian finance. This book analyses the evolution of the various crisis management processes, and discusses potential goals and improvements within the context of recent measures suggested by the European Commission.

Morocco

Author : International Monetary Fund. Independent Evaluation Office
ISBN : 9781475546019
Genre : Business & Economics
File Size : 33. 58 MB
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This paper discusses key issues related to the economy of Poland. Thanks to its sound policies, close links to the German supply chain, and substantial EU transfers, Poland is the only country in the European Union that avoided an outright recession during the global financial crisis. However, this strong performance has masked enduring regional disparities, which are undermining the quality of growth. Poland faces significant long-term challenges as an aging population weighs on potential growth and public finances. The new government, which took office in November, has approved a Responsible Development Plan, focused on spurring growth through innovation and reducing social and regional disparities.

Ireland

Author : International Monetary Fund. Monetary and Capital Markets Department
ISBN : 9781475542196
Genre : Business & Economics
File Size : 76. 39 MB
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This Technical Note discusses the findings and recommendations in the Financial Sector Assessment Program for Ireland regarding the financial safety net, bank resolution, and crisis management. The introduction of the “single rulebook” for financial services regulation within the European Union and the establishment of the banking union have transformed the Irish framework for dealing with failing banks. The new regime reflects an EU-wide initiative to strengthen supervision, harmonize prudential rules, and establish a uniform bank resolution regime. The Bank Recovery and Resolution Directive has significantly strengthened the resolution regime in Ireland and the European Union. Significant progress has also been made on the banking union, although key aspects remain to be completed.

Norway

Author : International Monetary Fund. Monetary and Capital Markets Department
ISBN : 9781513528298
Genre : Business & Economics
File Size : 37. 76 MB
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This Technical Note reviews crisis management, bank resolution, and financial sector safety nets in Norway. Arrangements for crisis management, bank and group resolution, and the financial sector safety nets are well developed and tested in Norway. Roles, responsibilities, accountabilities, and information-sharing arrangements among the relevant bodies are generally well defined and functioning. The current legal framework provides substantial powers and flexibility to deal with failing or failed banks but needs to be strengthened in several respects. The Financial Supervisory Authority has begun to implement a recovery plan requirement for the largest banks. The authorities also make good use of simulation exercises to enhance crisis preparedness.

Research Handbook On Crisis Management In The Banking Sector

Author : Bob Wessels
ISBN : 178347422X
Genre :
File Size : 32. 69 MB
Format : PDF
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In this timely Handbook, over 30 prominent academics, practitioners and regulators from across the globe, provide in-depth insights into an area of law that the recent global financial crisis has placed in the spotlight: bank insolvency law.

Chile

Author : International Monetary
ISBN : 9798400219740
Genre : Business & Economics
File Size : 66. 64 MB
Format : PDF
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Chile has a large and well-developed financial system, compared with the rest of Latin America. The market is well integrated into the global financial system, with Chilean firms investing in foreign financial assets, either directly or via institutional investors, and foreigners participating in the Chilean market.

France

Author : International Monetary Fund. Monetary and Capital Markets Department
ISBN : 9781484394960
Genre : Business & Economics
File Size : 71. 59 MB
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This technical note discusses key findings of the assessment of Crisis Management and Bank Resolution Framework for France. The findings reveal that the crisis preparation, crisis identification, and crisis management processes in the supervisory authority (ACP) are comprehensive and well structured. Without having a formal U.S.-type “PCA-regulation,” the ACP identifies weak banks and requests appropriate remedial measures to be taken. The ACP also actively uses the Basel II Pillar 2 instrument to require add-ons on an individual-bank basis to the minimum regulatory capital requirements, reflecting the assessed riskiness of a bank.

International Bank Crisis Management

Author : Marco Bodellini
ISBN : 9781509961313
Genre : Law
File Size : 60. 26 MB
Format : PDF
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This book analyses the legal regimes governing bank crisis management in the EU, UK, and US, discussing the different procedures and tools available as well as the regulatory architecture and the authorities involved. Building on a broad working definition of 'bank crisis management' and referring to several cases, the book explores the techniques and approaches employed by the authorities to deal with troubled banks on both sides of the Atlantic. The legal analysis distinguishes between procedures and tools aimed at liquidating the bank in crisis vis-à-vis those aimed at restructuring. In this regard, attention is paid to the rules allowing for the use of public money in handling banks in trouble as well as to the role that deposit insurance schemes can play. Considerations on the impact on banks of the current crisis provoked by the COVID-19 pandemic are advanced, primarily focusing on the expected surge of non-performing loans as well as on ways to effectively manage these assets. The book approaches these issues from a comparative law perspective, providing law and economics considerations and focusing on strengths and drawbacks of the rules currently in force. The book advances policy considerations as well as reform proposals aiming at enhancing the legal regimes in force, with particular reference to the Consultation promoted in 2021 by the European Commission on the adoption of a new bank crisis management and deposit insurance framework in the Union.

El Salvador

Author : International Monetary Fund. Monetary and Capital Markets Department
ISBN : 9781475588118
Genre : Business & Economics
File Size : 29. 11 MB
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This Technical Note analyzes Safety Nets and Crisis Management Arrangements in El Salvador. In El Salvador, the banking safety net—emergency liquidity assistance, resolution and deposit insurance—faces particular challenges given it operates in the context of official dollarization. Although banks’ liquid assets holdings are high, there are some weaknesses with the liquidity requirements in terms of dealing with banks’ individual liquidity risks. The bank resolution scheme, which has not been tested, and the deposit insurance fund, which has insufficient funds, both need to be strengthened.

South Africa

Author : International Monetary Fund. Monetary and Capital Markets Department
ISBN : 9781498368193
Genre : Business & Economics
File Size : 56. 63 MB
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This Technical Note discusses recommendations made during the Financial Sector Assessment Program (FSAP) for South Africa in the areas of contingency planning, crisis management, and bank resolution. The proposed scope of the new resolution regime and of the South African Reserve Bank’s (SARB) jurisdiction as the resolution authority remains unclear. It is suggested that authorities should consider focusing on all deposit-taking institutions and only those other financial institutions that are currently deemed systemic. Non-deposit-taking financial institutions that are not found to be systemic should be resolved by the Prudential Authority or the Market Conduct Authority, whichever is the lead regulator.

Romania

Author : International Monetary Fund. Monetary and Capital Markets Department
ISBN : 9781484360743
Genre : Business & Economics
File Size : 90. 18 MB
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This Technical Note assesses the state of crisis preparedness and safety net in Romania. The bank resolution and crisis management toolkit has been significantly revamped since the last Financial Sector Assessment Program. The implementation of the Bank Resolution and Recovery Directive in Romania enhanced the National Bank of Romania’s (NBR) powers to deal with failing banks, while the Bank Deposit Guarantee Fund gained greater involvement in these processes. The NBR has been charged with new responsibilities that flow from its ongoing role as supervisory and resolution authority, namely the enforcement and analysis of recovery planning requirements and the preparation of resolution plans. Some elements needed for the effectiveness to the crisis management framework are still work-in-progress.

International Bank Crisis Management

Author : Marco Bodellini
ISBN : 9781509961320
Genre : Law
File Size : 69. 55 MB
Format : PDF, ePub
Download : 315
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This book analyses the legal regimes governing bank crisis management in the EU, UK, and US, discussing the different procedures and tools available as well as the regulatory architecture and the authorities involved. Building on a broad working definition of 'bank crisis management' and referring to several cases, the book explores the techniques and approaches employed by the authorities to deal with troubled banks on both sides of the Atlantic. The legal analysis distinguishes between procedures and tools aimed at liquidating the bank in crisis vis-à-vis those aimed at restructuring. In this regard, attention is paid to the rules allowing for the use of public money in handling banks in trouble as well as to the role that deposit insurance schemes can play. Considerations on the impact on banks of the current crisis provoked by the COVID-19 pandemic are advanced, primarily focusing on the expected surge of non-performing loans as well as on ways to effectively manage these assets. The book approaches these issues from a comparative law perspective, providing law and economics considerations and focusing on strengths and drawbacks of the rules currently in force. The book advances policy considerations as well as reform proposals aiming at enhancing the legal regimes in force, with particular reference to the Consultation promoted in 2021 by the European Commission on the adoption of a new bank crisis management and deposit insurance framework in the Union.

Research Handbook On Crisis Management In The Banking Sector

Author : Matthias Haentjens
ISBN : 9781783474233
Genre : Business & Economics
File Size : 53. 96 MB
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In this timely Handbook, over 30 prominent academics, practitioners and regulators from across the globe provide in-depth insights into an area of law that the recent global financial crisis has placed in the spotlight: bank insolvency law. Research Handbook on Crisis Management in the Banking Sector discusses the rules that govern a bank insolvency from the perspectives of the various parties that are affected by these rules. Thus, whilst many bank insolvency rules have been enacted only recently and their application is still clouded by a host of uncertainties, this book takes the perspectives of the relevant authorities, of the bank and of the bank’s counterparties. Providing a comprehensive approach to crisis management in the banking sector, this Handbook will prove a valuable resource for academics, postgraduate students, practitioners and international policymakers.

Sweden

Author : International Monetary Fund
ISBN : 9781463903589
Genre : Business & Economics
File Size : 25. 69 MB
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This abstract reviews the recommendations made in the FSAP Update for Sweden in the areas of contingency planning, crisis management, and bank resolution. Although Sweden crisis management fared well during the global financial crisis, its authorities are reviewing the framework for managing financial crises to incorporate crisis lessons. They recommend a domestic institutional framework, an effective cross-border cooperation, an emergency liquidity assistance (ELA), a deposit guarantee scheme (DGS), and state support to systematically important financial institutions (SIFIs).

Georgia Financial Sector Assessment Program Technical Note Financial Safety Net Resolution And Crisis Management

Author : Jack Boorman
ISBN : 9781557753724
Genre : Business & Economics
File Size : 57. 42 MB
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Since the prior FSAP the authorities have comprehensively updated the legal, policy and procedural framework for failing bank resolution. In 2019 both the NBG and Banking Laws were amended to provide the authorities with powers to resolve banks that in the past might have been deemed too-big-to-fail; this eventuality is now greatly diminished. In 2017 a Deposit Insurance System Law was adopted to provide protection to natural person depositors when a bank fails and is liquidated. In 2020 the NBG published a series of rules specifying its policies and procedures for the use of its new powers, and jointly with the MoF published regulations addressing the use of temporary public funding to mitigate the potential systemic implications of bank failures.

Eastern Caribbean Currency Union

Author : International Monetary Fund. Western Hemisphere Dept.
ISBN : 9781513536224
Genre : Business & Economics
File Size : 72. 56 MB
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This paper presents IMF’s 2019 Discussion on Common Policies of Member Countries of the Eastern Caribbean Currency Union (ECCU). ECCU’s gross domestic product (GDP) growth accelerated from 3/4 percent in 2017 to 3 3/4 percent in 2018, reflecting buoyancy in the tourism sector, sizable Citizenship-by-Investment (CBI) inflows, and a recovery from the 2017 hurricanes in Anguilla and Dominica, which were supported by large public investments in reconstruction. Fiscal deficits increased in 2018–2019, but they have remained moderate. Efforts are needed to streamline, and re-balance tax incentives based on clear principles consistent with international best practices. External imbalances are sizable and significant financial sector vulnerabilities affect both banks and non-banks. Growth is projected to gradually moderate toward its long-term average of 2 1/4 percent as the cyclical momentum normalizes and CBI inflows ease. These trends would also contribute to wider fiscal deficits, ending the downward drift in public debt dynamics. The outlook is clouded by downside risks, including a possible intensification of natural disasters and financial sector weaknesses.

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