An Appraisal of the Central Bank of Nigeria's Approach to Resolution of Skye Bank Plc PDF Download
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Author: Dr Kubi Udofia Publisher: ISBN: Category : Languages : en Pages : 4
Book Description
On 21 September 2018, the Central Bank of Nigeria (CBN) revoked the banking licence of Skye Bank Plc on the ground that it was significantly undercapitalised. The CBN also claimed that Skye Bank's shareholders were unable to recapitalise the bank. CBN's first regulatory intervention in Skye Bank was on 4 July 2016 when the CBN replaced some board members and injected N350 billion into the bank.Polaris Bank Ltd (a bridge bank) has been established to take over the assets and liabilities of Skye Bank. The CBN and the Nigerian Deposit Insurance Corporation (NDIC) have turned over Polaris Bank to the Asset Management Corporation of Nigeria (AMCON). AMCON has injected N786 billion into Polaris Bank and is expected to source for a credible investor.This write-up examines Skye Bank's resolution and key issues arising therefrom such as the special insolvency regime for banks, the bridge bank approach, bail-outs and bail-ins, the too-big-to-fail principle and moral hazard, and the treatment of Skye Bank's shareholders.
Author: Dr Kubi Udofia Publisher: ISBN: Category : Languages : en Pages : 4
Book Description
On 21 September 2018, the Central Bank of Nigeria (CBN) revoked the banking licence of Skye Bank Plc on the ground that it was significantly undercapitalised. The CBN also claimed that Skye Bank's shareholders were unable to recapitalise the bank. CBN's first regulatory intervention in Skye Bank was on 4 July 2016 when the CBN replaced some board members and injected N350 billion into the bank.Polaris Bank Ltd (a bridge bank) has been established to take over the assets and liabilities of Skye Bank. The CBN and the Nigerian Deposit Insurance Corporation (NDIC) have turned over Polaris Bank to the Asset Management Corporation of Nigeria (AMCON). AMCON has injected N786 billion into Polaris Bank and is expected to source for a credible investor.This write-up examines Skye Bank's resolution and key issues arising therefrom such as the special insolvency regime for banks, the bridge bank approach, bail-outs and bail-ins, the too-big-to-fail principle and moral hazard, and the treatment of Skye Bank's shareholders.
Author: Publisher: ISBN: 9781475547979 Category : Africa Languages : en Pages : 102
Book Description
Pan-African banks are expanding rapidly across the continent, creating cross-border networks, and having a systemic presence in the banking sectors of many Sub-Saharan African countries. These banking groups are fostering financial development and economic integration, stimulating competition and efficiency, introducing product innovation and modern management and information systems, and bringing higher skills and expertise to host countries. At the same time, the rise of pan-African banks presents new challenges for regulators and supervisors. As networks expand, new channels for transmission of macro-financial risks and spillovers across home and host countries may emerge. To ensure that the gains from cross border banking are sustained and avoid raising financial stability risks, enhanced cross-border cooperation on regulatory and supervisory oversight is needed, in particular to support effective supervision on a consolidated basis. This paper takes stock of the development of pan-African banking groups; identifies regulatory, supervisory and resolution gaps; and suggests how the IMF can help the authorities address the related challenges.
Author: International Monetary Fund. African Dept. Publisher: International Monetary Fund ISBN: 1498306144 Category : Business & Economics Languages : en Pages : 105
Book Description
This Article IV Consultation highlights that Nigeria’s economy is still recovering from the substantial terms-of-trade shock that triggered the 2016 recession. Persistent structural and policy challenges constrain growth to below the level needed to reduce vulnerabilities and improve development outcomes. With elections now complete, there is a greater chance for faster policy implementation. The authorities’ Economic Recovery and Growth Plan priorities remain appropriate and should be urgently implemented. Revenue-based fiscal consolidation would be required to create space for higher capital and priority spending while improving spending efficiency and strengthening governance. A comprehensive package of urgent policy reforms is required to address vulnerabilities and raise growth over the medium term. The IMF staff suggested that strengthening banking sector resilience requires increasing capital buffers. This includes extending the no dividend distribution rule to all banks with high restructured loans.
Author: Publisher: BRILL ISBN: 9004351612 Category : Social Science Languages : en Pages : 423
Book Description
Chapters in this book contribute to our understanding of the theory, structure and practice of entrepreneurship in diverse African countries. Case studies examined include: African multinational banks and businesses, female entrepreneurs, culture and entrepreneurship, finance and entrepreneurship and SMEs.
Author: International Monetary Fund. African Dept. Publisher: International Monetary Fund ISBN: 1513568469 Category : Business & Economics Languages : en Pages : 65
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 145528257X Category : Business & Economics Languages : en Pages : 54
Book Description
Since the 2003 Financial Stability Assessment Program (FSAP) update, Ghana’s financial system has undergone rapid growth and structural transformation. The authorities have been implementing reforms to enhance the financial system’s resilience to shocks and its contribution to growth. The vulnerabilities reflect the interplay of several factors, but state involvement is an important element. The other contributory factors include deficiencies in commercial banks’ risk management, supervision, and the insolvency regime. Additional recommendations are detailed in the Report on the Standards and Codes on Compliance (ROSC) with the Basel Core Principles (BCP).
Author: Y. Makanjuola Publisher: Springer ISBN: 1137493534 Category : Business & Economics Languages : en Pages : 263
Book Description
This book captures Nigeria's crisis management experience and lessons learnt during the five-year tenure of Sanusi Lamido Sanusi as CBN Governor. It provides a backdrop of the sub-prime mortgage crisis in the US characterised by the Lehman Brothers debacle in 2007-08, which precipitated global economic and financial crisis.
Author: United States. Congress Publisher: ISBN: Category : Law Languages : en Pages : 1462
Book Description
The Congressional Record is the official record of the proceedings and debates of the United States Congress. It is published daily when Congress is in session. The Congressional Record began publication in 1873. Debates for sessions prior to 1873 are recorded in The Debates and Proceedings in the Congress of the United States (1789-1824), the Register of Debates in Congress (1824-1837), and the Congressional Globe (1833-1873)
Author: Dr Kubi Udofia
Author: Dr Kubi Udofia
Author: Central Bank of Nigeria
Author: 
Author: International Monetary Fund. African Dept.
Author: Peter Nyong Umoh
Author: 
Author: International Monetary Fund. African Dept.
Author: International Monetary Fund
Author: Y. Makanjuola
Author: United States. Congress