tailieunhanh - Bank Failures in Mature Economies

The government recognized most of its financial liabilities towards private depositors and committed itself to paying all the frozen deposits by 2011. Nevertheless, this law was, from the very beginning, full of technical and practical difficulties. It assumed the debt conversion into bonds on a voluntary basis. The bonds were issued in paper format and thus were liable to forgery and theft. The non-electronic format of bonds proved to be complicated for trading and clearing procedures as well. Finally, the law was financially based on GDP growth levels that were unattainable at that time. This ambitious but unrealistic attempt to pay frozen private deposits turned out to be. | Basel Committee on Banking Supervision Working Paper No. 13 Bank Failures in Mature Economies April 2004 The Working Papers of the Basel Committee on Banking Supervision contain analysis carried out by experts of the Basel Committee or its working groups. They may also reflect work carried out by one or more member institutions or by its Secretariat. The subjects of the Working Papers are of topical interest to supervisors and are technical in character. The views expressed in the Working Papers are those of their authors and do not represent the official views of the Basel Committee its member institutions or the BIS. Copies of publications are available from Bank for International Settlements Information Press Library Services CH-4002 Basel Switzerland Fax 41 61 280 91 00 and 41 61 280 81 00 This publication is available on the BIS website . Bank for International Settlements 2004. All rights reserved. Brief excerpts may be reproduced or translated provided the source is stated. ISSN 1561-8854 Contributing authors Ms Natalja v. Westernhagen Mr Eiji Harada Mr Takahiro Nagata Mr Bent Vale Mr Juan Ayuso Mr Jesús Saurina Ms Sonia Daltung Ms Suzanne Ziegler Ms Elizabeth Kent Mr Jack Reidhill Mr Stavros Peristiani Deutsche Bundesbank Frankfurt am Main Bank of Japan Tokyo Financial Services Agency Tokyo Norges Bank Oslo Banco de Espana Madrid Banco de Espana Madrid Sveriges Riksbank Stockholm Schweizerische Nationalbank Zurich Bank of England London Federal Deposit Insurance Corporation Washington . Federal Reserve Bank of New .