Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/163504
Authors: 
Wihlborg, Clas
Year of Publication: 
2012
Series/Report no.: 
SUERF Studies 2012/5
Abstract: 
This paper focuses on the need for a lex specialis for resolution of insolvent banks and other financial institutions serving similar functions, and on requirements for making resolution procedures effective. After a review of the objectives of general insolvency law and the special characteristics of banks and the financial system, approaches to resolution procedures in a few “model countries” are described. The issues that require attention in legislation for resolution procedures are identified as the contagion issue, the valuation issue, the predictability issue, the information issue, the coverage issue, the funding issue and the cross-border issue. Complementary reforms of the financial architecture that would enhance the effectiveness of legislation for resolution procedures are discussed as well
Subjects: 
insolvency
crisis resolution contagion
JEL: 
G01
G18
G28
ISBN: 
978-3-902109-65-1
Document Type: 
Research Report
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