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The Need for Special Resolution Regimes for Financial Institutions; The Case of theeuropean Union
Cihák, Martin; Nier, Erlend - International Monetary Fund (IMF) - 2009
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...
Persistent link: https://www.econbiz.de/10008528635
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Capital Account Liberalization and Financial Sector Stability
International Monetary Fund (IMF); International … - 2002
Persistent link: https://www.econbiz.de/10005824821
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United Kingdom; Financial System Stability Assessment
International Monetary Fund (IMF); International … - 2011
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Persistent link: https://www.econbiz.de/10011243315
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The Use (and Abuse) of CDS Spreads During Distress
Spackman, Carolyne; Singh, Manmohan - International Monetary Fund (IMF) - 2009
Credit Default Swap spreads have been used as a leading indicator of distress. Default probabilities can be extracted from CDS spreads, but during distress it is important to take account of the stochastic nature of recovery value. The recent episodes of Landbanski, WAMU and Lehman illustrate...
Persistent link: https://www.econbiz.de/10005826491
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Counterparty Risk, Impacton Collateral Flows and Role for Central Counterparties
Aitken, James; Singh, Manmohan - International Monetary Fund (IMF) - 2009
Counterparty risk in the United States stemming from exposures to OTC derivatives payables (after netting) is now concentrated in five banks?Goldman Sachs, JPMorgan, Bank of America, Morgan Stanley and Citi. This note analyzes how such risks have shifted over the past year. We estimate that the...
Persistent link: https://www.econbiz.de/10008528640
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Money for Nothing and Checks for Free; Recent Developments in U.S. Subprime Mortgage Markets
Mills, Paul S.; Kiff, John - International Monetary Fund (IMF) - 2007
. Notwithstanding the bankruptcy of numerous mortgage companies, historically high delinquencies and foreclosures, and a significant …
Persistent link: https://www.econbiz.de/10005605115
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Macroprudential Regulation Under Repo Funding
Valderrama, Laura - International Monetary Fund (IMF) - 2010
may lead to the bankruptcy of its repo counterparties triggering contagion across asset classes. To buttress the …
Persistent link: https://www.econbiz.de/10008671292
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Making OTC Derivatives Safe; A Fresh Look
Singh, Manmohan - International Monetary Fund (IMF) - 2011
Recent regulatory efforts, especially in the U.S. and Europe, are aimed at reducing moral hazard so that the next financial crisis is not bailed out by tax payers. This paper looks at the possibility that central counterparties (CCPs) may be too-big-to-fail entities in the making. The present...
Persistent link: https://www.econbiz.de/10008876583
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Toward a Statutory Approach to Sovereign Debt Restructuring; Lessons From Corporate Bankruptcy Practice Around the World
Bolton, Patrick - International Monetary Fund (IMF) - 2003
relevant to the debate on Sovereign Debt Restructuring. It highlights four components common to most bankruptcy reorganization …This paper provides an overview of key elements of Corporate Bankruptcy Codes and Practice around the world that are …, majority voting among creditors on the proposed reorganization plan, and new higher priority financing to keep the firm going …
Persistent link: https://www.econbiz.de/10005605204
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Principles of Household Debt Restructuring
Laryea, Thomas; Laeven, Luc - International Monetary Fund (IMF) - 2009
Persistent link: https://www.econbiz.de/10010790464