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Recapitalizing Banking Systems
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Book Synopsis Recapitalizing Banking Systems by : Patrick Honohan
Download or read book Recapitalizing Banking Systems written by Patrick Honohan and published by World Bank Publications. This book was released on 2001 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: After a banking crisis, when authorities have decided to use budgetary funds to help restructure a large failed bank or banking system, apparent conflicts between various goals (involving incentives for the new bank management, for the government's budget, and for monetary stability) can be resolved by suitably designing financial instruments and appropriately allocating responsibility between different arms of government.
Book Synopsis Recapitalizing Banking Systems by : Patrick Honohan
Download or read book Recapitalizing Banking Systems written by Patrick Honohan and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In the aftermath of a banking crisis, most attention is rightly focused on allocating losses, rebuilding properly managed institutions, and achieving debt recovery. But the authorities' decision to use budgetary funds to help restructure a large failed bank or banking system also has consequences for the incentive structure for the new bank management, for the government's budget, and for monetary stability. These issues tend to be lumped together, but each should be dealt with in a distinctive manner. The author points out, among other things, how apparent conflicts between the goals in each of these areas can be resolved by suitably designing financial instruments and appropriately allocating responsibility between different arms of government. First the government must have a coherent medium-term fiscal strategy that determines broadly how the costs of the crisis will be absorbed. Then the failed bank must be securely reestablished with enough capital and franchise value to move forward as a normal bank. This will typically entail new financial institutions involving the government on both the asset and the liability sides of the bank's balance sheet. The bank should not be left with mismatches of maturity, currency, repricing. Assets that are injected should be bankable and preferably negotiable. The liability structure should give bank insiders the incentive to manage the bank prudently. Financial instruments can be complex and sophisticated but only if the government has the credibility to warrant market confidence that it will deliver on the contracts rather than trying to use its lawmaking powers to renege. Innovative use of segregating sinking funds and "Brady"-type bonds can help where government credibility is weak. Restructuring the bank will alter the size, maturity, and other characteristics of the government's debt. These characteristics should be optimized separately and with the market as a whole, not just the affected banks.
Book Synopsis Recapitalizing Banking Systems: Implications for Incentives and Fiscal and Monetary Policy by : Patrick Honohan
Download or read book Recapitalizing Banking Systems: Implications for Incentives and Fiscal and Monetary Policy written by Patrick Honohan and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: February 2001 After a banking crisis, when authorities have decided to use budgetary funds to help restructure a large failed bank or banking system, apparent conflicts between various goals (involving incentives for the new bank management, for the government's budget, and for monetary stability) can be resolved by suitably designing financial instruments and appropriately allocating responsibility between different arms of government. In the aftermath of a banking crisis, most attention is rightly focused on allocating losses, rebuilding properly managed institutions, and achieving debt recovery. But the authorities' decision to use budgetary funds to help restructure a large failed bank or banking system also has consequences for the incentive structure for the new bank management, for the government's budget, and for monetary stability. These issues tend to be lumped together, but each should be dealt with in a distinctive manner. Honohan points out, among other things, how apparent conflicts between the goals in each of these areas can be resolved by suitably designing financial instruments and appropriately allocating responsibility between different arms of government. First the government must have a coherent medium-term fiscal strategy that determines broadly how the costs of the crisis will be absorbed. Then the failed bank must be securely reestablished with enough capital and franchise value to move forward as a normal bank. This will typically entail new financial instruments involving the government on both the asset and the liability sides of the bank's balance sheet. The bank should not be left with mismatches of maturity, currency, or repricing. Assets that are injected should be bankable and preferably negotiable. The liability structure should give bank insiders the incentive to manage the bank prudently. Financial instruments can be complex and sophisticated but only if the government has the credibility to warrant market confidence that it will deliver on the contracts rather than trying to use its lawmaking powers to renege. Innovative use of segregating sinking funds and "Brady"--Type bonds can help where government credibility is weak. Restructuring the bank will alter the size, maturity, and other characteristics of the government's debt. These characteristics should be optimized separately and with the market as a whole, not just the affected banks. This paper--a product of Finance, Development Research Group--is part of a larger effort in the group to examine the effects of bank regulation. The author may be contacted at [email protected].
Book Synopsis Recapitalizing Banks with Public Funds Selected Issues by : Charles Enoch
Download or read book Recapitalizing Banks with Public Funds Selected Issues written by Charles Enoch and published by . This book was released on 2006 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 institutional arrangements needed to foster an effective banking system restructuring and maximize the returns on government investment. The approaches to recapitalization have varied, with countries choosing different mixes of direct capital injections and asset purchase and rehabilitation. The choice of an appropriate mix is critical, to minimize the expected present value of government outlays net of recoveries.
Book Synopsis Do Central Banks Need Capital? by : Mr.Peter Stella
Download or read book Do Central Banks Need Capital? written by Mr.Peter Stella and published by International Monetary Fund. This book was released on 1997-07-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central banks may operate perfectly well without capital as conventionally defined. A large negative net worth, however, is likely to compromise central bank independence and interfere with its ability to attain policy objectives. If society values an independent central bank capable of effectively implementing monetary policy, recapitalization may become essential. Proper accounting practice in determining central bank profit or loss and rules governing the transfer of the central bank’s operating result to the treasury are also important. A variety of country-specific central bank practices are reviewed to support the argument.
Book Synopsis Recapitalizing Banks with Public Funds by : International Monetary Fund
Download or read book Recapitalizing Banks with Public Funds written by International Monetary Fund and published by International Monetary Fund. This book was released on 1999-10-01 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 institutional arrangements needed to foster an effective banking system restructuring and maximize the returns on government investment. The approaches to recapitalization have varied, with countries choosing different mixes of direct capital injections and asset purchase and rehabilitation. The choice of an appropriate mix is critical, to minimize the expected present value of government outlays net of recoveries.
Author :United States. Congress. House. Committee on Banking, Finance, and Urban Affairs Publisher : ISBN 13 : Total Pages :112 pages Book Rating :4.X/5 (1 download)
Book Synopsis Condition and Recapitalization of the Bank Insurance Fund by : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs
Download or read book Condition and Recapitalization of the Bank Insurance Fund written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs and published by . This book was released on 1991 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Competition Vs. Stability: Oligopolistic Banking System with Run Risk by : Mr. Damien Capelle
Download or read book Competition Vs. Stability: Oligopolistic Banking System with Run Risk written by Mr. Damien Capelle and published by International Monetary Fund. This book was released on 2021-04-23 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a model where large financial intermediaries subject to systemic runs internalize the effect of their leverage on aggregate risk, returns and asset prices. Near the steady-state, they restrict leverage to avoid the risk of a run which gives rise to an accelerator effect. For large adverse shocks, the system enters a zone with high leverage and possibly runs. The length of time the system remains in this zone depends on the degree of concentration through a franchise value, price-drop and recapitalization channels. The speed of entry of new banks after a collapse has a stabilizing effect.
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Publisher : ISBN 13 : Total Pages :88 pages Book Rating :4.0/5 ( download)
Book Synopsis Congressional Budget Office Estimated Recapitalization of the Bank Insurance Fund by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Download or read book Congressional Budget Office Estimated Recapitalization of the Bank Insurance Fund written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 1991 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Bank Restructuring by : Andrew Sheng
Download or read book Bank Restructuring written by Andrew Sheng and published by World Bank Publications. This book was released on 1996 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Long Shadow of the Global Financial Crisis: Public Interventions in the Financial Sector by : Ms.Deniz O Igan
Download or read book The Long Shadow of the Global Financial Crisis: Public Interventions in the Financial Sector written by Ms.Deniz O Igan and published by International Monetary Fund. This book was released on 2019-07-30 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: We track direct public interventions and public holdings in 1,114 financial institutions over the period 2007–17 in 37 countries based on publicly available information. We use aggregate official data to validate this new dataset and estimate the fiscal impact of interventions, including the value of asset holdings remaining in state hands at end-2017. Direct public support to financial institutions amounted to $1.6 trillion ($3.5 trillion including guarantees), with larger amounts allocated to lower capitalized and less profitable banks. As of end-2017, only a few countries had fully divested the initial support they provided during the crisis. Public holdings were divested faster in better capitalized, more profitable, and more liquid banks, and in countries where the economy recovered faster. In countries where the government stake remained high relative to the initial intervention, private investment and credit growth were slower, financial access, depth, efficiency, and competition were worse, and financial stability improved less.
Book Synopsis International Convergence of Capital Measurement and Capital Standards by :
Download or read book International Convergence of Capital Measurement and Capital Standards written by and published by Lulu.com. This book was released on 2004 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Systemic Banking Crises Database by : Mr.Luc Laeven
Download or read book Systemic Banking Crises Database written by Mr.Luc Laeven and published by International Monetary Fund. This book was released on 2012-06-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: We update the widely used banking crises database by Laeven and Valencia (2008, 2010) with new information on recent and ongoing crises, including updated information on policy responses and outcomes (i.e. fiscal costs, output losses, and increases in public debt). We also update our dating of sovereign debt and currency crises. The database includes all systemic banking, currency, and sovereign debt crises during the period 1970-2011. The data show some striking differences in policy responses between advanced and emerging economies as well as many similarities between past and ongoing crises.
Book Synopsis A Tea Reader by : Katrina Avila Munichiello
Download or read book A Tea Reader written by Katrina Avila Munichiello and published by Tuttle Publishing. This book was released on 2017-03-21 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Tea Reader contains a selection of stories that cover the spectrum of life. This anthology shares the ways that tea has changed lives through personal, intimate stories. Read of deep family moments, conquered heartbreak, and peace found in the face of loss. A Tea Reader includes stories from all types of tea people: people brought up in the tea tradition, those newly discovering it, classic writings from long-ago tea lovers and those making tea a career. Together these tales create a new image of a tea drinker. They show that tea is not simply something you drink, but it also provides quiet moments for making important decisions, a catalyst for conversation, and the energy we sometimes need to operate in our lives. The stories found in A Tea Reader cover the spectrum of life, such as the development of new friendships, beginning new careers, taking dream journeys, and essentially sharing the deep moments of life with friends and families. Whether you are a tea lover or not, here you will discover stories that speak to you and inspire you. Sit down, grab a cup, and read on.
Book Synopsis Managing Systemic Banking Crises by : Ms.Marina Moretti
Download or read book Managing Systemic Banking Crises written by Ms.Marina Moretti and published by International Monetary Fund. This book was released on 2020-02-11 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper updates the IMF’s work on general principles, strategies, and techniques from an operational perspective in preparing for and managing systemic banking crises in light of the experiences and challenges faced during and since the global financial crisis. It summarizes IMF advice concerning these areas from staff of the IMF Monetary and Capital Markets Department (MCM), drawing on Executive Board Papers, IMF staff publications, and country documents (including program documents and technical assistance reports). Unless stated otherwise, the guidance is generally applicable across the IMF membership.
Book Synopsis Financial Sector Crisis and Restructuring by : Carl-Johan Lindgren
Download or read book Financial Sector Crisis and Restructuring written by Carl-Johan Lindgren and published by . This book was released on 1999 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: An IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.
Book Synopsis Controlling the Fiscal Costs of Banking Crises by : Patrick Honohan
Download or read book Controlling the Fiscal Costs of Banking Crises written by Patrick Honohan and published by World Bank Publications. This book was released on 2000 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades, a majority of countries have experienced a systemic banking crisis requiring a major-and expensive-overhaul of their banking system. Not only do banking crises hit the budget with outlays that must be absorbed by higher taxes (or spending cuts), but they are costly in terms of forgone economic output. Many different policy recommendations have been made for limiting the cost of crises, but there has been little systematic effort to see which recommendations work in practice. The authors try to quantify the extent to which fiscal outlays incurred in resolving banking distress can be attributed to crisis management measures of a particular kind adopted by the government in the early years of the crisis. They find evidence that certain crisis management strategies appear to add greatly to fiscal costs: unlimited deposit guarantees, open-ended liquidity support, repeated recapitalization, debtor bail-outs, and regulatory forbearance. Their findings clearly tilt the balance in favor of a strict rather than an accommodating approach to crisis resolution. At the very least, regulatory authorities who choose an accommodating or gradualist approach to an emerging crisis must be sure they have some other way to control risk-taking.
