Overview

How to avoid taxpayers paying for bank failures and banking crises? This book provides a proposal and a critique by twelve independent experts. It is addressed particularly to the threat posed in Europe by having large international banks, a history of bailouts and limited means of resolving any future banking crises. It shows how political imperatives and legal constraints currently result in economic losses in many countries round the world. THORSTEN BECK World Bank, Washington DC BETHANY BLOWERS Analyst in the Domestic Finance Division, Bank of England HENK BROUWER Executive Director of De Nederlandsche Bank PEIK GRANLUND Lawyer in the Finnish Financial Supervisory Authority CHRISTOS HADJIEMMANUIL Senior Lecturer in Law, London School of Economics LIISA HALME Chief Legal Cousel, Financial Supervisory Authority of Finland GERBERT HEBBINK Senior Economist at the Financial Stability Department of De Nederlandsche Bank EVA HPKES Head of Regulation, Legal Department of the Swiss Federal Banking Commission EIGIL MLGAARD Legal and Financial Adviser, formerly Director General of the Danish Financial Supervisory Authority JN SIGURSSON President and Chief Executive, Nordic Investment Bank GARY STERN President, Federal Reserve Bank of Minneapolis SANDRA WESSELING Senior Economist,, Directorate Supervision of De Nederlandshe Bank GARY YOUNG Senior Research Manager, Domestic Finance Division, Bank of England

Full Product Details

Author:   D. Mayes ,  A. Liuksila
Publisher:   Palgrave USA
Imprint:   Palgrave Macmillan
Edition:   2004 ed.
Dimensions:   Width: 12.70cm , Height: 2.50cm , Length: 20.30cm
Weight:   0.547kg
ISBN:  

9781403917409

ISBN 10:   140391740
Pages:   390
Publication Date:   19 December 2003
Audience:   College/higher education ,  Professional and scholarly ,  Tertiary & Higher Education ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

List of Tables List of Figures Preface Acknowledgements Notes on the Contributors Introduction PART I: THE PROBLEM AND THE PROPOSED SOLUTION An Overview of the Issues; D.G.Mayes The New Approach to Orderly Bank Exit: Questions and Answers; A.Liuksila PART II: HOW BIG IS THE PROBLEM? Disclosure as a Cure for Moral Hazard: Necessary but Insufficient; G.H.Stern The Incentive Compatible Design Of Deposit Insurance and Bank Failure Resolution: Concepts and Country Studies T.Beck Small Countries, Large Multi-Country Banks: a challenge to supervisors - the example of the Nordic-Baltic area; J.Sigurðsson The Economic Impact of Insolvency Law; B.Blowers & G.Young Do Bank Exit Regimes affect Banking Conditions?; P.Granlund PART III: APPROACHES TO SOLVING THE PROBLEM A European Approach to Banking Crises; H.Brouwer, G.Hebbink & S.Wesseling Avoiding a Crisis: Lessons from the Danish Experience; E.Mølgaard Learning Lessons and Implementing a New Approach to Bank Insolvency Resolution in Switzerland; E.H.G.Hüpkes Bank Resolution Policy and the Organization of Bank Insolvency Proceedings: Critical Dilemmas; C.Hadjiemmanuil Appendix 1: The Proposed Approach to Bank Insolvency Legislation; D.G.Mayes, L.Halme & A.Liuksila Appendix 2: The Basel Committee Guidance on Weak Banks References Index

Reviews

DAVID G. MAYES is Advisor to the Board of the Bank of Finland and Professor of Economics at Southbank University, London. He was previously Chief Manager and Chief Economist at the Reserve Bank of New Zealand. He is Honorary Professor at the University of Stirling and Adjunct Professor at the University of Canterbury. AARNO LIUKSILA is the Director of IA Management, based in Washington. Until recently, he worked for the legal service of the International Monetary Fund.

Author Information

DAVID G. MAYES is Advisor to the Board of the Bank of Finland and Professor of Economics at London South Bank University. He was previously Chief Manager and Chief Economist at the Reserve Bank of New Zealand. He is Honorary Professor at the University of Stirling and Adjunct Professor at the University of Canterbury. AARNO LIUKSILA is the Director of IA Management, based in Washington. Until recently, he worked for the legal service of the International Monetary Fund.

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