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...

This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...

Recapitalizing banks in a systemic crisis is a complex medium-term process that requires significant government intervention and careful management at both the strategic and individual bank levels. This paper highlights the range of operational and strategic issues to be addressed and the...

In der Debatte über die Zukunft der Eurozone wird auch das Konzept der Bankenunion diskutiert. Hans-Peter Burghof, Universität Hohenheim, sieht unter den gegenwärtigen Bedingungen die Gefahr einer europäischen Bankenunion, in der das Vermögen einiger Länder des Währungsraumes ohne...

Im Juli dieses Jahres stellte die Europäische Kommission die Pläne zu einem Einheitlichen Abwicklungsmechanismus (Singe Resolution Mechanism, SRM) als dritte Säule der Bankenunion vor. Hartmut Koschyk, Bundesministerium der Finanzen, schlägt vor, anstelle eines zentralen europäischen...

The Selected Issue Paper discusses the Swiss National Bank’s (SNB) balance sheet risks and policy implications. Despite increased profit allocations, SNB capital has not kept pace with its growing balance sheet. The paper also explores the empirical determinants of pressures on the Swiss...

Following the 2008/9 financial crisis and deep recession, a cyclical recovery took hold in Ukraine, supported by a stronger external environment. Efforts to consolidate public finances and repair the banking system began strengthening Ukraine’s resilience to external shocks. More...