The bad debt crisis and its impact on the banking reform in Poland:
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis Book |
| Language: | German |
| Published: |
Hamburg
Kovač
1999
|
| Series: | Studienreihe Volkswirtschaften der Welt
13 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | IX, 382 S. graph. Darst. |
| ISBN: | 3860649817 |
Staff View
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| 100 | 1 | |a Chudzik, Robert |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a The bad debt crisis and its impact on the banking reform in Poland |c Robert Chudzik |
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| 490 | 1 | |a Studienreihe Volkswirtschaften der Welt |v 13 | |
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| adam_text | Contens
THE LIST OF ABBREVIATIONS VI
LIST OF USED SYMBOLS VII
PREFACE 1
PART I: IMPLEMENTING SOUND BANKING IN TRANSITION
ECONOMY 11
1 The need for principle reform of the banking system in
transitional economies 13
2 The sources of the bad debt crisis. 27
2.1 The unwanted heritage from centrally planned economy 27
2.2 The macroeconomic shock 30
2.3 Problems with the introduction of soft budget constraints (SBC) 32
3 The impact of the bad debts problem on the economy. 41
3.1 The impact on the systemic risk 41
3.2 The effect of bad debts on credit allocation 42
3.3 Bad debts and monetary stabilisation 44
3.4 Bad loans and bank operations 45
4 Policy options for the resolution of the bad debt problem
and the needed institutional change in a transition economy 47
4.1 Dealing with the stock problem of non-performing loans 47
4.1.1 Bank recapitalisation 48
4.1.1.1 Bank liquidation 48
4.1.1.2 Letting bank grow out of the problem 50
4.1.1.3 Bank recapitalisation 51
4.1.2 The restructuring of bad debt portfolio 61
ii
4.1.2.1 The external solution 62
4.1.2.2 The internal solution 64
4.2 Changing the incentives of banks and enterprises 70
4.2.1 Bank privatisation 70
4.2.2 The role of banks in corporate governance of firms 72
4.2.2.1 Bank as equity holder 80
4.2.2.2 Banks as debtholders 84
4.2.3 The policy toward market entry in the banking sector 93
4.3 Bank regulation 96
4.3.1 The rationale for bank regulation 98
4.3.2 The standard regulatory package 102
4.3.2.1 Deposit insurance with flat risk premium 104
4.3.2.2 The efficiency of capital requirements 108
4.3.2.3 The supervisory activity of bank regulation 112
4.3.3 The proposals to reform the current bank regulation approach 122
4.3.3.1 Modification of risk -based capital requirements 123
4.3.3.2 Risk-based deposit insurance 124
4.3.3.3 The idea of prompt corrective action as a response to regulator s
forbearance 127
4.3.4 Alternative designs of regulatory framework 134
4.3.4.1 The mechanism of market discipline over banks 135
4.3.4.1.1 Bank owners 135
4.3.4.1.2 Bank managers 137
4.3.4.1.3 Bank debtholders and depositors 137
4.3.4.2 The problem of information disclosure 144
4.3.4.2.1 Market value accounting (MVA) 145
4.3.4.2.2 Proposal to increase information disclosure 148
4.3.4.3 Narrow banking as a radical reform approach to bank regulation 150
iii
PART II: OVERCOMING THE BAD DEBT PROBLEM
IN POLAND 153
5 The general directions of transformation
of the Polish banking sector 155
5.1 The first reform attempts in the 1980 s 156
5.2 The outline of the reform concept 160
5.2.1 The stabilisation cum liberalisation reform package 161
5.2.2 The new banking law 167
5.3 The development of banking sector in the period preceding
the outbreak of the bad debt crisis 169
5.4 The adjustment process of Polish enterprises 173
6 The outbreak of the bad debt problem in Poland 181
7 The rescue program for the large state-owned banks 203
7.1 The bank recapitalisation 204
7.2 The program of restructuring the bad loans portfolios 209
7.2.1 Outline of the legal framework 211
7.2.2 The results of the program 220
7.2.3 The impact of bank conciliation procedure 226
7.2.4 The model of debt renegotiation 233
7.2.4.1 General assumptions 233
7.2.4.2 The renegotiation game 239
7.2.4.3 Debt-equity swap as a restructuring tool 244
7.2.4.4 The case of normally distributed firm s payoff 246
7.2.5 Have the borrowers incentives changed
in course of BCP- the empirical research 255
7.2.5.1 Characteristics of the sample 255
7.2.5.2 The negotiation stage 260
7.2.5.3 The attitude of banks and borrowers toward debt-equity swaps 263
7.2.5.4 Has BCP modified the patterns of borrowers behaviour? 264
iv
7.2.6 The other restructuring paths 274
7.2.6.1 The sale of debt 274
7.2.6.2 Bankruptcy and liquidation 276
7.3 The privatisation of the state-owned banks 277
8 The restructuring of the co-operative sector
and the pko bp savings bank 285
9 The troubles of the small private banks 293
10 The establishment of the regulatory system in Poland. 297
10.1 Capital adequacy ratio 298
10.2 Requirements on provisions building 301
10.3 Other restraints concerning credit concentration and liquidity norms 303
10.4 Deposit insurance 304
10.5 The policy of the central bank and bank supervision towards distressed
financial institutions 307
10.6 The new banking law and the redesign of bank supervision 310
11 Is the Polish approach to deal with bad debt a success story?
Some proposals for the improvement of the reform design. 313
11.1 Some proposals to improve the BPC 314
11.2 The reform of the bankruptcy law 317
11.3 The redesign of the regulatory framework 318
12 The condition of the banking sector in the aftermath
of the bad debt crisis 325
conclusions 345
appendix tables 351
bibliography 357
Index of Figures 379
Index of Tables 381
v
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| spelling | Chudzik, Robert Verfasser aut The bad debt crisis and its impact on the banking reform in Poland Robert Chudzik Hamburg Kovač 1999 IX, 382 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Studienreihe Volkswirtschaften der Welt 13 Zugl.: Frankfurt (Oder), Univ., Diss., 1998 Bank Bank loans Poland Banks and banking Poland Collecting of accounts Poland Schuldenkrise (DE-588)4200280-1 gnd rswk-swf Kreditwesen (DE-588)4032950-1 gnd rswk-swf Wirtschaftsreform (DE-588)4066512-4 gnd rswk-swf Polen Polen (DE-588)4046496-9 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Polen (DE-588)4046496-9 g Wirtschaftsreform (DE-588)4066512-4 s Kreditwesen (DE-588)4032950-1 s Schuldenkrise (DE-588)4200280-1 s DE-604 Studienreihe Volkswirtschaften der Welt 13 (DE-604)BV011835058 13 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=008611021&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Chudzik, Robert The bad debt crisis and its impact on the banking reform in Poland Studienreihe Volkswirtschaften der Welt Bank Bank loans Poland Banks and banking Poland Collecting of accounts Poland Schuldenkrise (DE-588)4200280-1 gnd Kreditwesen (DE-588)4032950-1 gnd Wirtschaftsreform (DE-588)4066512-4 gnd |
| subject_GND | (DE-588)4200280-1 (DE-588)4032950-1 (DE-588)4066512-4 (DE-588)4046496-9 (DE-588)4113937-9 |
| title | The bad debt crisis and its impact on the banking reform in Poland |
| title_auth | The bad debt crisis and its impact on the banking reform in Poland |
| title_exact_search | The bad debt crisis and its impact on the banking reform in Poland |
| title_full | The bad debt crisis and its impact on the banking reform in Poland Robert Chudzik |
| title_fullStr | The bad debt crisis and its impact on the banking reform in Poland Robert Chudzik |
| title_full_unstemmed | The bad debt crisis and its impact on the banking reform in Poland Robert Chudzik |
| title_short | The bad debt crisis and its impact on the banking reform in Poland |
| title_sort | the bad debt crisis and its impact on the banking reform in poland |
| topic | Bank Bank loans Poland Banks and banking Poland Collecting of accounts Poland Schuldenkrise (DE-588)4200280-1 gnd Kreditwesen (DE-588)4032950-1 gnd Wirtschaftsreform (DE-588)4066512-4 gnd |
| topic_facet | Bank Bank loans Poland Banks and banking Poland Collecting of accounts Poland Schuldenkrise Kreditwesen Wirtschaftsreform Polen Hochschulschrift |
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