The Case For And Against Asset Management Companies In Banking Crises

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The Case for (and Against) Asset Management Companies in Banking Crises

Author : Mr. Miguel A Otero Fernandez
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 75 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis The Case for (and Against) Asset Management Companies in Banking Crises by : Mr. Miguel A Otero Fernandez

Download or read book The Case for (and Against) Asset Management Companies in Banking Crises written by Mr. Miguel A Otero Fernandez and published by International Monetary Fund. This book was released on 2024-07-09 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: This technical note explores the advantages and disadvantages of establishing state-sponsored centralized asset management companies (AMCs) to address high levels of bank asset distress during financial crises. AMCs may offer potential benefits like mitigating downward price spirals or achieving efficiency gains by consolidating creditor claims and scarce expertise. However, significant risks and costs warrant careful consideration. These include extreme uncertainties in asset valuation and substantial operational and financial risks. Past international experiences highlight the dangers of underestimating these risks, potentially turning the AMC into a mechanism for deferring losses to taxpayers, rather than minimizing them, and ultimately increasing long-term public costs and moral hazard. This technical note emphasizes these trade-offs and discusses crucial design elements for effective AMCs: a clear mandate, transfer pricing that prudently reflects asset values and disposal costs, strong governance with independent management, and efficient operational processes promoting transparency and accountability.

Public Asset Management Companies

Author : Caroline Cerruti
Publisher : World Bank Publications
ISBN 13 : 1464808759
Total Pages : 170 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Public Asset Management Companies by : Caroline Cerruti

Download or read book Public Asset Management Companies written by Caroline Cerruti and published by World Bank Publications. This book was released on 2016-05-31 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: This toolkit is designed for policy makers and stakeholders who are considering the establishment of a publicly funded asset management company (AMC). An AMC is a statutory body or corporation, fully or partially owned by the government, usually established in times of financial sector stress, to assume the management of distressed assets and recoup the public cost of resolving the crisis. AMCs were first used in the early 1990s in Sweden (Securum) and the United States (the RTC), and again during the Asian crisis (for instance, Danaharta in Malaysia, KAMCO in the Republic of Korea). The 2008 financial crisis marked a renewal of the use of this tool to support the resolution of financial crises (for instance, NAMA in Ireland, SAREB in Spain). The toolkit does not address broader bank resolution issues. It has a narrow focus on the specific tool of a public AMC established to support bank resolution, and with the objective of providing insight on the design and operational issues surrounding the creation of such AMCs. It seeks to inform policy makers on issues to consider if and when planning to establish a public AMC through: · An analysis of recent public AMCs established as a result of the global financial crisis · Detailed case studies in developed and emerging markets over three generations · A toolkit approach with questions and answers, including questions on design and operations that are critical for authorities confronted with the issue of whether to establish an AMC · An emphasis on “how to†? that is, a practical versus a principled approach. The toolkit is structured as followed: Part I summarizes the findings on the preconditions, the design, and the operationalization of public AMCs. Part II provides case studies on three generations of AMCs, whose lessons are embedded in Part I. The case studies cover emerging and developed markets, and have been selected based on the lessons they offer.

Financial Sector Crisis and Restructuring

Author : Carl-Johan Lindgren
Publisher :
ISBN 13 : 9781557758712
Total Pages : 103 pages
Book Rating : 4.7/5 (587 download)

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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.

Crisis and Response

Author : Federal Deposit Insurance Corporation
Publisher :
ISBN 13 : 9780966180817
Total Pages : pages
Book Rating : 4.1/5 (88 download)

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Book Synopsis Crisis and Response by : Federal Deposit Insurance Corporation

Download or read book Crisis and Response written by Federal Deposit Insurance Corporation and published by . This book was released on 2018-03-06 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Crisis and Response: An FDIC History, 2008¿2013 reviews the experience of the FDIC during a period in which the agency was confronted with two interconnected and overlapping crises¿first, the financial crisis in 2008 and 2009, and second, a banking crisis that began in 2008 and continued until 2013. The history examines the FDIC¿s response, contributes to an understanding of what occurred, and shares lessons from the agency¿s experience.

Managing Systemic Banking Crises

Author : Ms.Marina Moretti
Publisher : International Monetary Fund
ISBN 13 : 1513512277
Total Pages : 88 pages
Book Rating : 4.5/5 (135 download)

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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.

The Financial Crisis Inquiry Report

Author : Financial Crisis Inquiry Commission
Publisher : Cosimo, Inc.
ISBN 13 : 1616405414
Total Pages : 692 pages
Book Rating : 4.6/5 (164 download)

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Book Synopsis The Financial Crisis Inquiry Report by : Financial Crisis Inquiry Commission

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Financial Crises Explanations, Types, and Implications

Author : Mr.Stijn Claessens
Publisher : International Monetary Fund
ISBN 13 : 1475561008
Total Pages : 66 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Financial Crises Explanations, Types, and Implications by : Mr.Stijn Claessens

Download or read book Financial Crises Explanations, Types, and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

The American Political Economy

Author : Jacob S. Hacker
Publisher : Cambridge University Press
ISBN 13 : 1316516369
Total Pages : 487 pages
Book Rating : 4.3/5 (165 download)

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Book Synopsis The American Political Economy by : Jacob S. Hacker

Download or read book The American Political Economy written by Jacob S. Hacker and published by Cambridge University Press. This book was released on 2021-11-11 with total page 487 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing together leading scholars, the book provides a revealing new map of the US political economy in cross-national perspective.

Issues in the Establishment of Asset Management Companies

Author : Mr. Stefan N. Ingves
Publisher : International Monetary Fund
ISBN 13 : 145523155X
Total Pages : 31 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis Issues in the Establishment of Asset Management Companies by : Mr. Stefan N. Ingves

Download or read book Issues in the Establishment of Asset Management Companies written by Mr. Stefan N. Ingves and published by International Monetary Fund. This book was released on 2004-05-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the role of asset management companies (AMCs) in facilitating bank restructuring and specifies some policy lessons learned from international experience. The paper concludes that there is no single optimal solution but a combination of strategies that will vary from bank to bank and country to country. There are, however, common factors that contribute to the success of an AMC and these include the legal environment, leadership, independence, incentives, and commercial orientation.

The Nordic Banking Crisis

Author : Mr.Burkhard Drees
Publisher : International Monetary Fund
ISBN 13 : 9781557757005
Total Pages : 52 pages
Book Rating : 4.7/5 (57 download)

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Book Synopsis The Nordic Banking Crisis by : Mr.Burkhard Drees

Download or read book The Nordic Banking Crisis written by Mr.Burkhard Drees and published by International Monetary Fund. This book was released on 1998-04-20 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the banking crises in Finland, Norway and Sweden, which took place in the early 1990s, and draws some policy conclusions from their experiences. One key conclusion is that factors in addition to business cycle effects explain the Nordic countries financial problems. Although the timing of the deregulation in all three countries coincided with a strongly expansionary macroeconomic momentum, the main reasons for the banking crises were the delayed policy responses, the structural characteristics of the financial systems, and the banks inadequate internal risk-management controls.

International Bank Crisis Management

Author : Marco Bodellini
Publisher : Bloomsbury Publishing
ISBN 13 : 1509961321
Total Pages : 229 pages
Book Rating : 4.5/5 (99 download)

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Book Synopsis International Bank Crisis Management by : Marco Bodellini

Download or read book International Bank Crisis Management written by Marco Bodellini and published by Bloomsbury Publishing. This book was released on 2022-08-25 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the legal regimes governing bank crisis management in the EU, UK, and US, discussing the different procedures and tools available as well as the regulatory architecture and the authorities involved. Building on a broad working definition of 'bank crisis management' and referring to several cases, the book explores the techniques and approaches employed by the authorities to deal with troubled banks on both sides of the Atlantic. The legal analysis distinguishes between procedures and tools aimed at liquidating the bank in crisis vis-à-vis those aimed at restructuring. In this regard, attention is paid to the rules allowing for the use of public money in handling banks in trouble as well as to the role that deposit insurance schemes can play. Considerations on the impact on banks of the current crisis provoked by the COVID-19 pandemic are advanced, primarily focusing on the expected surge of non-performing loans as well as on ways to effectively manage these assets. The book approaches these issues from a comparative law perspective, providing law and economics considerations and focusing on strengths and drawbacks of the rules currently in force. The book advances policy considerations as well as reform proposals aiming at enhancing the legal regimes in force, with particular reference to the Consultation promoted in 2021 by the European Commission on the adoption of a new bank crisis management and deposit insurance framework in the Union.

Systemic Banking Crises Database

Author : Mr.Luc Laeven
Publisher : International Monetary Fund
ISBN 13 : 1475505051
Total Pages : 33 pages
Book Rating : 4.4/5 (755 download)

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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.

Managing Systemic Banking Crises

Author : Mr.Marc Quintyn
Publisher : International Monetary Fund
ISBN 13 : 1589062248
Total Pages : 73 pages
Book Rating : 4.5/5 (89 download)

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Book Synopsis Managing Systemic Banking Crises by : Mr.Marc Quintyn

Download or read book Managing Systemic Banking Crises written by Mr.Marc Quintyn and published by International Monetary Fund. This book was released on 2003-08-28 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent financial sector crises and their resolution have raised new issues and provided additional experiences to draw on in the future. Banking sector problems in Russia, Turkey, and a few Latin American countries occurred within the context of highly dollarized economies, high levels of sovereign debt, severely limited fiscal resources, or combinations thereof. These factors have challenged the effectiveness of many of the typical tools for bank resolution. This publication focuses on the issues raised in systemic crises, not on the resolution of individual bank problems. Based on the lessons learned during the Asian crisis, it updates the IMF’s work on the general principles, strategies, and techniques for managing these crises.

Financial Sector Governance

Author : Robert E. Litan
Publisher : Brookings Institution Press
ISBN 13 : 9780815752905
Total Pages : 474 pages
Book Rating : 4.7/5 (529 download)

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Book Synopsis Financial Sector Governance by : Robert E. Litan

Download or read book Financial Sector Governance written by Robert E. Litan and published by Brookings Institution Press. This book was released on 2004-05-13 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: A financial system is only as strong as the governing practices and institutions of its participants. The challenge to build efficient and accountable financial institutions that promote confidence is a problem that private financial sector executives and policymakers confront together. In this context, Financial Sector Governance takes a clinical approach to addressing the challenges in emerging and developed markets in each industry: capital markets, private banks, state-owned banks, asset management companies, public pension funds, and mutual funds. It also explores the linkages between public and private sector governance, and the policy implications for strengthening both sides. Financial Sector Governance emerges from the fourth annual Financial Markets and Development conference, organized by the World Bank, the International Monetary Fund and the Brookings Institution, during which participants from the public and private financial sectors of emerging and developed markets contribute to an expanding dialogue addressing key policy concerns.

Systemic Financial Crises

Author : Patrick Honohan
Publisher : Cambridge University Press
ISBN 13 : 9780521851855
Total Pages : 412 pages
Book Rating : 4.8/5 (518 download)

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Book Synopsis Systemic Financial Crises by : Patrick Honohan

Download or read book Systemic Financial Crises written by Patrick Honohan and published by Cambridge University Press. This book was released on 2005-09-26 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes government policies to contain and resolve systemic financial crises.

Nonperforming Loans in Asia and Europe—Causes, Impacts, and Resolution Strategies

Author : Asian Development Bank
Publisher : Asian Development Bank
ISBN 13 : 9292691163
Total Pages : 262 pages
Book Rating : 4.2/5 (926 download)

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Book Synopsis Nonperforming Loans in Asia and Europe—Causes, Impacts, and Resolution Strategies by : Asian Development Bank

Download or read book Nonperforming Loans in Asia and Europe—Causes, Impacts, and Resolution Strategies written by Asian Development Bank and published by Asian Development Bank. This book was released on 2021-12-01 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: High and persistent levels of nonperforming loans (NPLs) have featured prominently in recent financial crises. This book traces NPL trends during and after crises, examines the economic impact of high NPLs, and compares the effectiveness of NPL resolution strategies across economies in Asia and Europe. The book distills important lessons from the experiences of economies using case studies and empirical investigation of ways to resolve NPLs. These findings can be invaluable in charting a course through the financial and economic fallout of the coronavirus disease (COVID-19) pandemic to recovery and sustained financial stability in Asia, Europe, and beyond.

Financial Crises

Author : Stelios Markoulis
Publisher : BoD – Books on Demand
ISBN 13 : 1789238579
Total Pages : 118 pages
Book Rating : 4.7/5 (892 download)

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Book Synopsis Financial Crises by : Stelios Markoulis

Download or read book Financial Crises written by Stelios Markoulis and published by BoD – Books on Demand. This book was released on 2021-01-14 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book on financial crises is written at a time when the whole world is facing another crisis, a different one this time; one that is related to our health, as well as the economy in a painful manner. The first chapter of this book focuses on the economic effects of this crisis with particular emphasis on the financial sector. The remainder of the book presents a selection of readings related to the GFC. These touch upon issues such as corporate governance; the effect of the collapse of the Lehman Brothers on the net-worth of financial and non-financial firms; securitization and why the alchemy “did not work”; and finally, a case-study on Turkey and in particular the Turkish short-term interest rates and exchange rates and their relationship to political developments.