This paper reviews the key legal and policy measures designed to limit moral hazard in bank insolvency systems and compares and explores how existing national insolvency systems have implemented these principles. While many legal systems include prohibitions or limitations on the use of public...

The globalization of finance has led to the development of more integrated global exchange networks among countries and deeper interrelationships between their economies. Many financial institutions and activities that once were local are now international. While business and finance are global...

Preventing future bail-outs for large, systemically important banks while minimizing the repercussions of bank insolvencies on the stability of the financial system and the economy at large has become a key policy objective for international standard-setters as well as national and supranational...