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02 Oct 2006
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£90.00
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9780230019003
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DescriptionReviewsContentsAuthors

Systemic financial crises have become a common albeit infrequent feature of the global financial landscape. Since 1980, nearly every country has been affected by serious financial distress or systemic financial crises. Resolution of such crises requires a complex mix of macroeconomic and financial sector policies. One important element in the resolution of such crises is the restructuring and resolution of problem banks, with considerable experience gained in this area in the past decade.

This volume outlines the theoretical insights that have been gained and the practical lessons learned. Featured contributors have been directly involved in the practical resolution of failed banks and bring to this work a deep udnerstanding of the complexity of resolving weak or failed institutions. Subjects addressed include systemic crisis resolution, options on the techniques for bank restrucuring, and case studies describing country specific practices.


Description

Systemic financial crises have become a common albeit infrequent feature of the global financial landscape. Since 1980, nearly every country has been affected by serious financial distress or systemic financial crises. Resolution of such crises requires a complex mix of macroeconomic and financial sector policies. One important element in the resolution of such crises is the restructuring and resolution of problem banks, with considerable experience gained in this area in the past decade.

This volume outlines the theoretical insights that have been gained and the practical lessons learned. Featured contributors have been directly involved in the practical resolution of failed banks and bring to this work a deep udnerstanding of the complexity of resolving weak or failed institutions. Subjects addressed include systemic crisis resolution, options on the techniques for bank restrucuring, and case studies describing country specific practices.


Reviews

'The majority of papers in the book are practical guides to specific aspects of dealing with crises. They discuss, inter alia, the principles that should be used in seperating viable from non-viable banks... There are also a number of case studies of systematic crises in particuar countries...Government officials in these countries should keep this volume readily at hand for the next time the sky begins to darken.' - The Financial Regulator


Contents

PART I: OVERVIEW OF CRISIS RESOLUTION AND BANK RESTRUCTURING POLICIES
The Resolution of Systemic Banking System Crises; S.Ingves & D.S.Hoelscher
The Benefits and Costs of Intervening in Banking Crises; E.J.Frydl & M.G.Quintyn
PART II: OPTIONS FOR BANK RESTRUCTURING
Techniques of Bank Resolution; S.A.Seelig
Issuing Government Bonds to Finance Bank Recapitalization and Restructuring: Design Factors that Affect Banks' Financial Performance; A.M.Andrews
What Happens After Supervisory Intervention? Considering Bank Closure Options; A.M.Andrews & M.A.Josefsson
Post-Resolution Treatment of Depositors at Failed Banks: Implications for the Severity of Banking Crises, Systemic Risk, and Too-Big-To-Fail; G.G.Kaufman & S.A.Seelig
The IMF/World Bank Global Insolvency Initiative-Its Purpose and Principal Features; R.B.Leckow
PART III: OPTIONS FOR ASSET MANAGEMENT
Prudential Treatment of Restructured Loans; I.Song
Issues in the Establishment of Asset Management Companies; S.Ingves, S.A.Seelig & D.He
PART IV: COUNTRY EXPERIENCES
From the Front Lines at Seoul Bank: Restructuring and Reprivatization; C.Kang
The Banking Crises and Bank Resolution: Experiences in Some Transition Economies; C.A.Enoch, A-M.Gulde & D.C.Hardy
Interventions in Banks during Banking Crises: The Experience of Indonesia; C.A.Enoch
The Role of KAMCO in Resolving Nonperforming Loans in the Republic of Korea; D.He
The Public Sector Recapitalization Program in Turkey; M.A.Josefsson


Authors

DAVID S. HOELSCHER is Division Chief of the Systemic Issues Division in the Monetary and Financial Systems Department of the International Monetary Fund (IMF), USA. He has worked intensively in a number of countries including Argentina, Ecuador and Russia. He has also served as IMF representative in Bolivia and Kazakhstan. His publications include Managing Systemic Banking Crises.