Cross-Border Bank Insolvency

Inbunden, Engelska, 2011

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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. Insolvency procedures are typically nationally based, entity-centric and sector specific. The demise of national frontiers in today's global financial markets shows the limitations and inadequacies of these principles to deal with financial conglomerates, complex financial groups and international holding structures. These inadequacies are particularly evident in the case of cross-border bank insolvency. They are also manifested in the host-home country divide and in the treatment of systemic risk and systemically significant financial institutions. Institutions may claim to be global when they are alive (as in the case of Lehman Brothers); they become national when they are dead. Quite often, financial law specialists lack in-depth expertise on insolvency law and insolvency law specialists lack in-depth expertise on financial law. This book bridges these two areas of law by bringing together distinguished insolvency and banking law experts to provide a unique analysis of the special issues associated with cross-border bank insolvency and an inter-jurisdictional approach combining national, European and international dimensions.The Editor draws on her experience gained during participation in the Basel Working Group to provide a valuable reference for banking and insolvency practitioners, scholars, regulators and the judiciary.

Produktinformation

Utgivningsdatum2011-02-17
Mått175 x 250 x 35 mm
Vikt1 033 g
FormatInbunden
SpråkEngelska
Antal sidor532
FörlagOUP OXFORD
ISBN9780199577071

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Finansrätt inom Juridik

Rosa Lastra is a Professor in International Financial and Monetary Law at the Centre for Commercial Law Studies (CCLS), Queen Mary, University of London. Prior to joining CCLS she was Assistant Professor and Director of the International Finance and Business Program at Columbia University School of International and Public Affairs in New York. Rosa Lastra is a member of MOCOMILA, a founding member of the European Shadow Financial Regulatory Committee, a senior research associate of the Financial Markets Group of the London School of Economics and Political Science and an affiliated scholar of the Centre for the Study of Central Banks at New York University School of Law. She has consulted for the International Monetary Fund, the World Bank, the Asian Development Bank, the Federal Reserve Bank of New York and others.

1. Bank Insolvency in the Context of Crisis Management ; 2. Definition of Bank Insolvency and Types of Bank Insolvency Proceedings ; 3. Early Intervention ; 4. The Actors in the Process: of Supervisors, Regulators, Administrators and Courts of Justice ; 5. Allocating Costs of Failure Resolution - Shaping Incentives and Reducing Moral Hazard ; 6. Developments in the EU ; 7. International Law Principles Applicable to Cross-Border Bank Insolvency ; 8. The Elements of Coordination in International Corporate Insolvencies: What Cross-Border Bank Insolvency Can Learn From Corporate Insolvency ; 9. International Developments ; 10. The Perimeter Issue. To What Extent Should lex specialis be Extended to Systemically Significant Financial Institutions? An Exit Strategy from Too Big to Fail ; 11. Ending Too Big to Fail: Practical Resolution Alternatives for Financial Conglomerates ; 12. Operational Issues ; 13. Bank Insolvency and Sovereign Insolvency ; 14. Bank Insolvency Law in the United Kingdom ; 15. US Bank Resolution Reform: Then and Again ; 16. International Lessons from Lehman's Failure - A Cross-Border No Man's Land ; Appendix: Resolution of Cross-Border Banks - A Proposed Framework for Enhanced Coordination