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• Title:Cross-border bank insolvency / edited by Rosa Lastra.
  
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• Other Contributors/Collections:Lastra, Rosa María.
  
• Published/Created:Oxford ; New York : Oxford University Press, 2011.
  

• Holdings

  Holdings Record Display

  • Location:LAW LIBRARY (level 3)Where is this?
    
  • Call Number: K1066 .C76 2011
    
  • Number of Items:1
    
  • Status:Available
    

   
• Library of Congress Subjects:Banks and banking, International--Law and legislation.
  Bank failures--Law and legislation.
  Banking law--International cooperation.
  
• Description:xl, 489 p. : ill. ; 26 cm.
  
• Summary:This timely book analyzes and discuss the various issues associated with cross-border bank insolvency following the financial crisis. Though financial markets and institutions have become international in recent years, regulation remains constrained by the domain of domestic jurisdictions. This dichotomy poses challenges for regulators and policy makers. If at the national level, bank crisis management is complex (with the involvement of several authorities and the interests of many stakeholders), this complexity is far greater in the case of cross-border bank crisis management, both at the EU level and at the international level
  
• Notes:Includes bibliographical references and index.
  
• ISBN:9780199577071 (hbk. : alk. paper)
  0199577072 (hbk. : alk. paper)
  
• Contents:Machine generated contents note: 1. Bank Insolvency in the Context of Crisis Management
  Introduction
  Lender of Last Resort
  Deposit Insurance
  Deposit Insurance in the EU
  Government Rescue Packages
  Systemic Risk Considerations
  2. Definition of Bank Insolvency and Types of Bank Insolvency Proceedings
  Introduction
  What is Bank Insolvency?
  Why Lex Specialist
  Objectives and Purposes of a Bank Insolvency Framework
  Types of Proceedings
  Roles of the Relevant Authorities in a Bank Insolvency Framework
  UK Banking Act 2009 and the Special Resolution Regime
  Conclusions
  3. Early Intervention
  Introduction
  Theoretical Basis for Early Intervention
  Early Intervention in the UK
  Early Intervention in the EU
  PCA in the USA
  4. Actors in the Process: Of Supervisors, Regulators, Administrators, and Courts of Justice
  Actors Generally
  Difficulties in Resolving Banking Crises
  Solutions and Responses
  Actors Generally: Conclusions
  Courts
  General Considerations
  Domestic Banks
  Foreign Banks
  Courts: Conclusions
  5. Allocating Costs of Failure Resolution: Shaping Incentives and Reducing Moral Hazard
  Introduction
  Failure Resolution as a Cornerstone of a Financial System
  Who Should Bear the Losses?
  Loss Allocation Ladder
  Legal Protection of Shareholder and Creditor Rights
  Protecting Systemic Functions and Allocating Losses
  Cross-Border Aspects
  Conclusion
  6. Developments in the EU
  Introduction
  Directive 2001/24/EC on the Reorganization and Winding-up of Credit Institutions
  Consultation and Proposals for Reform
  7. International Law Principles Applicable to Cross-Border Bank Insolvency
  Introduction
  Principles: universality, territoriality, and a `middle ground' approach
  Implementation of these Principles
  Conclusions
  8. Elements of Coordination in International Corporate Insolvencies: What Cross-Border Bank Insolvency Can Learn from Corporate Insolvency
  Background
  Model Law
  Just a Bit of Theory and Policy
  Corporate Groups
  Key Elements in the Growth of Cooperation
  Corporate Experience as it Relates to Banking
  Conclusion
  9. International Developments
  Introduction
  International Initiatives: The IMF and the Basel Cross-Border Bank Resolution Group
  Uncitral Model Law on Cross-Border Insolvency
  Concluding Observations
  10. Perimeter Issue: To What Extent Should Lex Specialis be Extended to Systemically Significant Financial Institutions? An Exit Strategy from Too Big to Fail
  Introduction
  Too Big to Fail is Doubly Damned
  Identifying SSFIs
  Resolution
  Regulation and Supervision
  Other Measures to Deal with SSFIs
  Non-bank SSFIs
  Policing the Perimeter
  Systemic Risk and the Too-Big-to-Fail Problem
  Concluding Observations
  11. Ending Too Big to Fail: Practical Resolution Alternatives for Financial Conglomerates
  Why Are Insolvency Rules Crucial?
  Risky Business
  Ending Too Big to Fail: Resolution Rules for Conglomerates
  Necessity for Preparation and Coordination
  Continuity for Functions, Not Firms
  Corporate Structural Reform
  Authorities' Operational Policies
  Conclusion
  12. Operational Issues
  Introduction
  Planning in the Event of Firm Failure
  Funding Runs: Deposits and Wholesale
  Investment Firm Client Property
  Counterparty Credit Risk Mitigation
  Counterparty Credit Risk: Netting
  Counterparty Credit Risk: Securities Collateral
  Counterparty Credit Risk: Cleaving and Settlement
  Conclusion
  13. Bank Insolvency and Sovereign Insolvency
  State Responsibility for Private Debt
  Collapse of the Creditanstalt in 1931
  Iceland's Banking Crisis
  Resolution of Sovereign Debt Crises
  Too Big to Fail: Bank Size and Sovereign Fiscal Capacity
  Fiscal Cost of Implicit Guarantees for the Financial Sector
  14. Bank Insolvency Law in the United Kingdom
  Regulatory Background and Evolution from Northern Rock
  Overview of the Banking Act
  SRR Objectives and the Treasury Code of Practice
  SRR Stabilization Powers and General Conditions
  SRR Stabilization Option 1 Transfer to a Private Sector Purchaser
  SRR Stabilization Option 2 Transfer to a Bridge Bank
  SRR Stabilization Option 3 Transfer to Temporary Public Ownership
  Bank Insolvency
  Bank Administration
  SRR Safeguards
  Recovery and Resolution Plans
  Conclusion
  15. US Bank Resolution Reform: Then and Again
  Introduction
  Reforms to US Resolution Regime Following the S&L Crisis
  Performance of the 1990s Reforms in the 2008 Financial Crisis
  New View of Systemic Risk and Prudential Regulation
  Resolution Reform in the USA
  Reform for Troubled Institutions Then and Again
  Conclusion
  16. International Lessons from Lehman's' Failure: A Cross-Border No Man's Land
  Overview
  Introduction
  Regulatory Holes and Distant Early Warnings
  Conclusion.