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Bank Failures and Bank Insolvency Law in Economies in Transition (Hardcover)
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Bank Failures and Bank Insolvency Law in Economies in Transition (Hardcover)
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This work explores the legal issues inherent in resolving troubled
banking sectors in transitional economies. Bank failures are a
recurrent phenomenon in both developed and developing countries, as
shown by the crises in the last 10 years in the USA, Japan,
Scandinavian countries, the Baltic countries, Bulgaria, South East
Asia and Latin America. Banks in transitional economies face
additional challenges as they become intermediaries in lending the
publics's savings, rather than mere conduits for the central
financing plan. They have to ensure repayment of loans when they no
longer receive subsidies to compensate their losses to the same
degree as before. As a result of these challenges, almost all these
countries have suffered numerous bank failures in the past eight
years, with negative consequences for bank owners, managers,
depositors and other creditors. The absence, in many situations, of
appropriate crisis management procedures and bank insolvency laws
hinders the success or pace of the transition process.
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