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On 16th November 2009, SUERF, CEPS and the Belgian Financial Forum coorganized a conference "Crisis management at cross-roads" in Brussels. All papers in the present volume are based on contributions at the conference and the SUERF Annual Lecture which followed the event.
Persistent link: https://www.econbiz.de/10011706117
in the form of the Bank Recovery and Resolution Directive. The paper discusses the anti-bailout objective of the two …
Persistent link: https://www.econbiz.de/10012963737
postponing default; 2) a positive probability of bail-out destroys credibility with dramatic effects on financial risk-taking, to …
Persistent link: https://www.econbiz.de/10012893415
Cases the Federal Deposit Insurance Corporation (FDIC) pursues against the directors and officers of failed commercial banks for (gross) negligence are important for the corporate governance of U.S. commercial banks. These cases shape the kernel of bank corporate governance, as they guide...
Persistent link: https://www.econbiz.de/10011485428
This paper presents an overview of the Japanese system to deal with the distress of banks, providing a classification of the regulation and remedies based on the level of systemic risk of the troubled entity. The paper differentiates between the types of actions available and analyses in detail...
Persistent link: https://www.econbiz.de/10012960405
We show that market discipline, defined as the extent to which firm specific risk characteristics are re ected in market prices, eroded during the recent financial crisis in 2008. We design a novel test of changes in market discipline based on the relation between firm specific risk...
Persistent link: https://www.econbiz.de/10010226557
We examine whether connected hedge funds (i.e. those that are prime-brokerage clients of bailout banks) benefited from … bailout programs initiated in seven countries during the 2007–2009 financial crisis. We find that being connected to a bailout … smaller during the post bailout period, for example, due to the greater risk-taking and higher leverage of such funds …
Persistent link: https://www.econbiz.de/10012906178
In the aftermath of the financial crisis, governments are rightly reducing their exposure to the banking system. Bail-in arrangements should ensure that shareholders and creditors take the first losses. The next line of defence is a resolution fund, which is filled via levies on banks....
Persistent link: https://www.econbiz.de/10013006142
likelihood of a bank bailout or failure during the late 2000s financial crisis. The empirical results indicate that established … received bailout funds are similar except that holding a large proportion of nonperforming loans reduced the likelihood that a … bank received bailout funds. Overall, these results are consistent with regulators providing bailout funds to banks that …
Persistent link: https://www.econbiz.de/10013008003
The financial crisis renewed the debate on the bailout of financial institutions, questioning the effectiveness of such …
Persistent link: https://www.econbiz.de/10012925194