An approach to bank insolvency in transition and emerging economies

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Title: An approach to bank insolvency in transition and emerging economies
ISBN: 952-462-120-7
Author: Mayes, David G.
Organization: Suomen Pankki
Series: Suomen Pankin keskustelualoitteita
ISSN: 0785-3572
Series year: 2004
Series number: 4/2004
Year of publication: 2004
Publication date: 9.2.2004
Published in: Published in Journal of Banking and Finance, Vol. 29, No. 1 (Special Issue), January 2005: 161-181
Pages: 54 s.
Keywords: pankkitoiminta; vakavaraisuus; siirtymätaloudet; kehittyvät markkinat; avoimuus; instituutiot; lainsäädäntö; moral hazard; Bofit-kokoelma
JEL: K23; G21; O16; G28
Abstract: In the light of the inequity of the way losses from bank insolvencies and their avoidance through intervention by the authorities have been distributed over creditors, depositors, owners and the population at large in transition and emerging economies, this paper explores a number of regulatory reforms that would alter the balance between seeking to avoid insolvency and lowering the costs of insolvency should it occur.In particular it considers whether a lex specialis for dealing with banks that are in trouble through prompt corrective action and if necessary resolving them if their net worth falls to zero, at little or no cost to the taxpayer can be applied in the institutional framework of transition and emerging economies. Key words: insolvency, banks, transition, emerging economies JEL classification numbers: K23, G21, O16, G28, E53

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