Bank failures, like illness and taxes, are almost a certainty at some time in the future. What is less certain is their cost to and adverse implications for macroeconomies. Past failures have frequently been resolved at very high cost to society. However, the cost could be reduced through having a w...

Full description

Bibliographic Details

Format:	Electronic eBook
Language:	English
Published:	Singapore World Scientific Pub. Co. c2005
Subjects:	Bank failures / Congresses Financial crises / Congresses Bank failures / Government policy / Congresses Bank failures / Case studies Bank Insolvenz Bankenkrise Konferenzschrift > 2004 > Chicago Ill. Konferenzschrift Fallstudiensammlung
Online Access:	FHN01 Volltext
Summary:	Bank failures, like illness and taxes, are almost a certainty at some time in the future. What is less certain is their cost to and adverse implications for macroeconomies. Past failures have frequently been resolved at very high cost to society. However, the cost could be reduced through having a well-developed, credible and widely publicized plan ready to put into action by policymakers. If no such plan is ready when a large bank approaches insolvency, political pressures are likely to influence the response of regulators. Minimizing immediate, short-run costs are likely to outweigh minimizing further out, longer-run and longer-lasting costs, even if these delayed costs promise to be substantially greater. Stated differently, today will win out over tomorrow and politics will trump economics. How best to prevent such unfavorable outcomes is the major theme of this volume. The articles presented review past insolvency resolutions, draw lessons from these resolutions, discuss impediments to efficient resolutions - including cross-country, cross-regulator, and institutional challenges - and recommend how to move forward
Item Description:	Papers presented at the seventh annual international conference, held on Sept. 30-Oct. 1, 2004
Physical Description:	xii, 461 p. ill
ISBN:	9789812569479