Report and Recommendations of the Cross-border Bank Resolution Group

Report and Recommendations of the Cross-border Bank Resolution Group
Author:
Publisher:
Total Pages: 49
Release: 2009
Genre: Banks and banking
ISBN: 9789291978021

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The report prepared by the Cross-border Bank Resolution Group Basel Committee on Banking Supervisionof the Basel Committee sets out ten recommendations that reflect the lessons from the recent financial crisis and seek to improve the resolution of a failing financial institution that has cross-border activities. One of the challenges that arise in resolving a cross-border bank crisis is that crisis resolution frameworks are largely designed to deal with domestic failures and to minimise the losses incurred by domestic stakeholders. As such, the current frameworks are not well suited to dealing with serious cross-border problems. The absence of a multinational framework for sharing the fiscal burdens for such crises or insolvencies is, along with the fact that legal systems and the fiscal responsibility are national, a basic reason for the predominance of the territorial approach in resolving banking crises and insolvencies. The Basel Committee's recommendations fall into three categories: 1. The first set addresses the strengthening of national resolution powers and their cross-border implementation. 2. The second set deals with ex ante action and institution-specific contingency planning which involves the institutions themselves as well as critical home and host jurisdictions. 3. The third set focuses on reducing contagion and limiting the impact on the market of the failure of a financial firm, by actions such as further 4.strengthening of netting arrangements.

Cross-Border Bank Resolution - Recent Developments

Cross-Border Bank Resolution - Recent Developments
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 41
Release: 2014-02-06
Genre: Business & Economics
ISBN: 1498343287

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Developing an effective framework for cross-border resolution is a key priority in international regulatory reform. Large bank failures during the global financial crisis brought home the lack of adequate tools for resolving “too-big-to-fail” institutions. In cross-border cases, misaligned incentives and lack of robust mechanisms for resolution and cross-border cooperation left some country authorities with little choice but to take unilateral actions, which contributed to the high fiscal costs of the crisis and resulted in disorderly resolution in some cases

Research Handbook on Cross-Border Bank Resolution

Research Handbook on Cross-Border Bank Resolution
Author: Matthias Haentjens
Publisher: Edward Elgar Publishing
Total Pages: 448
Release: 2019
Genre: Law
ISBN: 1786435985

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Since 2008, many countries across the globe have witnessed the introduction of new recovery and resolution regimes for banks. Whereas much may have been achieved on regional levels, this has not been perfect, and many global challenges remain unsolved. The Research Handbook on Cross-Border Bank Resolution analyses the strengths and weaknesses of the current regulatory framework for cross-border bank crises with contributions from eminent experts from the US, EU, Japan and China. The topic is addressed from both economic, and legal perspectives, with a special section devoted to real-life cases.

Resolution of Cross-Border Banks - A Proposed Framework for Enhanced Coordination

Resolution of Cross-Border Banks - A Proposed Framework for Enhanced Coordination
Author: International Monetary Fund. Legal Dept.
Publisher: International Monetary Fund
Total Pages: 36
Release: 2010-07-23
Genre: Business & Economics
ISBN: 1498337260

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In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for selected Fund activities (the “SFA Instrument”). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of a subaccount within the SFA. This paper requests Executive Board approval to establish the AFRITAC Central subaccount under the terms of the SFA Instrument.

Pan-African Banks

Pan-African Banks
Author:
Publisher:
Total Pages: 102
Release: 2015
Genre: Africa
ISBN: 9781475547979

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Pan-African banks are expanding rapidly across the continent, creating cross-border networks, and having a systemic presence in the banking sectors of many Sub-Saharan African countries. These banking groups are fostering financial development and economic integration, stimulating competition and efficiency, introducing product innovation and modern management and information systems, and bringing higher skills and expertise to host countries. At the same time, the rise of pan-African banks presents new challenges for regulators and supervisors. As networks expand, new channels for transmission of macro-financial risks and spillovers across home and host countries may emerge. To ensure that the gains from cross border banking are sustained and avoid raising financial stability risks, enhanced cross-border cooperation on regulatory and supervisory oversight is needed, in particular to support effective supervision on a consolidated basis. This paper takes stock of the development of pan-African banking groups; identifies regulatory, supervisory and resolution gaps; and suggests how the IMF can help the authorities address the related challenges.

International Bank Insolvencies:A Central Bank Perspective

International Bank Insolvencies:A Central Bank Perspective
Author: Mario Giovanoli
Publisher: Springer
Total Pages: 488
Release: 1999-09-29
Genre: Law
ISBN:

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The globalisation of the world economy poses significant challenges for policy makers, regulators and legal professionals. The Asian and Brazilian financial crises have shown that difficulties in the banking sectors of some economies can have serious repercussions across world financial markets. It is clear that a sound legal infrastructure is crucial to promote financial stability in this global market. Particularly in the case of international bank failures, the need for harmonised and effective international insolvency procedures is becoming increasingly apparent. It is against this background that the Bank for International Settlements organised a workshop on International Bank Insolvencies in the summer of 1998. This unique book presents the edited workshop papers by expert lawyers from over twenty national central banks, the European Central Bank, the Basle Committee on Banking Supervision and the UN Commission on International Trade Law. Nineteen country reports provide a comprehensive overview of central banks and other institutions responsible for banking supervision and the co-ordination between authorities involved in insolvency procedures. The authors further discuss the instruments employed for crisis prevention and resolution and issues arising in the aftermath of a bank failure in the respective jurisdictions. In addition, twelve expert papers discuss issues ranging from specific national experiences to attempts at co-operation and harmonisation at regional and international level. The book further includes in an annex the text of the UNCITRAL Model Law on Cross-Border Insolvency and the EC Finality Directive.

Handbook of Safeguarding Global Financial Stability

Handbook of Safeguarding Global Financial Stability
Author: Gerard Caprio
Publisher: Academic Press
Total Pages: 547
Release: 2012-11-27
Genre: Business & Economics
ISBN: 0123978750

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Political and social forces exert pressure on our globalized economy in many forms, from formal and informal policies to financial theories and technical models. Our efforts to shape and direct these forces to preserve financial stability reveal much about the ways we perceive the financial economy. The Handbook of Safeguarding Global Financial Stability examines our political economy, particularly the ways in which these forces inhabit our institutions, strategies, and tactics. As economies expand and contract, these forces also determine the ways we supervise and regulate. This high-level examination of the global political economy includes articles about specific countries, crises, and international systems as well as broad articles about major concepts and trends.. Substantial articles by top scholars sets this volume apart from other information sources Diverse international perspectives result in new opportunities for analysis and research Rapidly developing subjects will interest readers well into the future