Author: Mr.Martin Cihak Publisher: International Monetary Fund ISBN: 1451873476 Category : Business & Economics Languages : en Pages : 31
Book Description
The global financial crisis has demonstrated weaknesses in resolution regimes for financial institutions around the globe, including in the European Union (EU). This paper considers the principles underlying resolution regimes for financial institutions, and draws out how a well-designed resolution regime can expand the toolset available for crisis management. Introducing, or in some cases expanding the scope, of these regimes is pressing to achieve more effective responses to ongoing financial sector weaknesses across the EU.
Author: International Monetary Fund. Legal Dept. Publisher: International Monetary Fund ISBN: 1498339964 Category : Business & Economics Languages : en Pages : 22
Book Description
The financial crisis underscored the need to develop an effective international framework to resolve cross-border financial institutions and groups. The development of such a framework has been a priority for the international community. Many important milestones have been achieved—most notably the adoption by the Financial Stability Board (FSB) of the Key Attributes of Effective Resolution Regimes for Financial Institutions (the Key Attributes) which is emerging as a new (nonbinding) international standard. Fund staff have been heavily involved in their development. The Key Attributes specify essential features that should be part of the resolution framework at both the national and international levels, with the key objective of making resolution feasible without severe systemic disruption and without exposing taxpayers to loss. These features include a comprehensive “toolkit” of resolution powers for national authorities, including powers to: (i) assume control of a financial institution from existing managers and owners; (ii) effect a resolution of the troubled institution through the sale or merger of the entity, the transfer of assets and liabilities of the institution to third parties, or through unilateral debt restructuring or “bail-in”; and (iii) support the resolution through a temporary stay on the execution of early termination rights under financial contracts.
Author: International Monetary Fund. Monetary and Capital Markets Department Publisher: International Monetary Fund ISBN: 1513544047 Category : Business & Economics Languages : en Pages : 140
Book Description
This Technical Note reviews the key attributes of effective resolution regimes for the banking and insurance sectors in the United States. The United States’ resolution regime for financial institutions has been significantly enhanced since the financial crisis. Over the past several years, the U.S. authorities have undertaken significant efforts to develop the capability to deploy the Orderly Liquidation Authority, if and when needed, to safeguard financial stability. Of particular importance is the development of the so-called single point of entry strategy, designed to take advantage of most systemically important financial institutions in the United States being organized under a holding company structure.
Author: International Monetary Fund. Monetary and Capital Markets Department Publisher: International Monetary Fund ISBN: 1513563076 Category : Business & Economics Languages : en Pages : 140
Book Description
This Technical Note reviews the key attributes of effective resolution regimes for the banking and insurance sectors in the United States. The United States’ resolution regime for financial institutions has been significantly enhanced since the financial crisis. Over the past several years, the U.S. authorities have undertaken significant efforts to develop the capability to deploy the Orderly Liquidation Authority, if and when needed, to safeguard financial stability. Of particular importance is the development of the so-called single point of entry strategy, designed to take advantage of most systemically important financial institutions in the United States being organized under a holding company structure.
Author: Alexander Bernhart Publisher: ISBN: Category : Languages : en Pages :
Book Description
The paper outlines and analyses the special resolution regimes for the orderly wind down of failing financial institutions introduced by the recent reforms in the U.K., U.S. and Germany.
Author: Marianne Ojo D Delaney PhD Publisher: ISBN: Category : Languages : en Pages : 16
Book Description
In October 2010, having drawn crucial lessons fom the Financial Crisis which was triggered in 2007, and whose impact was still evident at the time, the Financial Stability Board Recommendations on systemically important financial institutions "called for an assessment, on the basis of the BCBS Recommendations and the draft FSB Key Attributes of Effective Resolution Regimes (FSB Key Attributes), of national authorities' capacity to resolve SIFIs under existing resolution regimes and of the legislative and other changes to national resolution regimes and policies needed to accomplish effective resolution." As well as attempting to highlight why much greater initiatives and efforts are required in relation to exit mechanisms for failing banks - that is, greater initiatives and efforts than prudential aspects of regulation which embrace capital adequacy procedures, this paper also draws attention to vital steps that could be taken at international level to make cross-border resolutions more effective.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498343287 Category : Business & Economics Languages : en Pages : 41
Book Description
Developing an effective framework for cross-border resolution is a key priority in international regulatory reform. Large bank failures during the global financial crisis brought home the lack of adequate tools for resolving “too-big-to-fail” institutions. In cross-border cases, misaligned incentives and lack of robust mechanisms for resolution and cross-border cooperation left some country authorities with little choice but to take unilateral actions, which contributed to the high fiscal costs of the crisis and resulted in disorderly resolution in some cases
Author: Virginia Skidmore Rutledge Publisher: International Monetary Fund ISBN: 1475503903 Category : Business & Economics Languages : en Pages : 27
Book Description
Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.
Author: Elsie Addo Awadzi Publisher: International Monetary Fund ISBN: 1513503219 Category : Business & Economics Languages : en Pages : 34
Book Description
Islamic banking is growing rapidly and its potential impact on global financial stability cannot be underestimated. International standards for resolving banks have evolved after the global financial crisis, culminating in the Financial Stability Board’s (“FSB”) Key Attributes of Effective Resolution Regimes for Financial Institutions. This paper examines the applicability of the Key Attributes to the resolution of Islamic banks. It concludes that a number of issues would need to be addressed, owing to Islamic banks’ unique governance structures and balance sheets. It recommends international guidance for the design of robust Shari`ah -compliant resolution frameworks for jurisdictions with Islamic banks.
Author: Mr.Martin Cihak
Author: International Monetary Fund. Legal Dept.
Author: International Monetary Fund. Monetary and Capital Markets Department
Author: International Monetary Fund. Monetary and Capital Markets Department
Author: Alexander Bernhart
Author: Marianne Ojo D Delaney PhD
Author: International Monetary Fund
Author: Virginia Skidmore Rutledge
Author: Elsie Addo Awadzi
Author: Great Britain. Treasury