The Resource Bad banks in the EU : the impact of Eurostat rules, by Christopher Gandrud and Mark Hallerberg, (electronic resource)

Bad banks in the EU : the impact of Eurostat rules, by Christopher Gandrud and Mark Hallerberg, (electronic resource)

Label
Bad banks in the EU : the impact of Eurostat rules
Title
Bad banks in the EU
Title remainder
the impact of Eurostat rules
Statement of responsibility
by Christopher Gandrud and Mark Hallerberg
Creator
Contributor
Author
Issuing body
Language
eng
Summary
At least 12 European Union member states used publicly created asset management companies (AMCs), otherwise known as a 'badbanks' to respond to the recent financial crisis. This tool remains an option for future bank resolutions under the EU Bank Recovery and Resolution Directive. We assess the design of AMCs in the recent crisis and why their form has changed. Through its role as definer of statistical concepts used under the Stability and Growth Pact, Eurostat has affected the design of AMCs. Increasingly stringent rulings on whether AMCs count as debt have pushed member states to create similar types of AMCs, namely those with majority private-sector ownership. We argue that privately owned AMCs act differently to publicly owned ones. In particular, private AMCs usually impose larger haircuts on the price they pay for the assets they acquire. This haspositive benefits for how profitable the AMC will be and how much it will help in avoiding the creation of zombie banks and zombie badbanks. There are important caveats. The effect of Eurostat's accounting rules on decision-making is stronger in countries with more strained budgets. Also, when the public owns a failed bank, Eurostat rulesare likely to have little impact on AMC ownership decisions. Governments tend to use publicly owned bad banks to resolve publicly owned failed banks. This is because it is difficult to compel private sector involvement in these situations
Cataloging source
IT-FiEUI
http://library.link/vocab/creatorName
Gandrud, Christopher
Index
no index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Hallerberg, Mark
  • Bruegel
Series statement
Bruegel working papers
Series volume
2014/15
Label
Bad banks in the EU : the impact of Eurostat rules, by Christopher Gandrud and Mark Hallerberg, (electronic resource)
Link
http://bruegel.org/publications/
Instantiates
Publication
Bibliography note
Includes bibliographical references (pages 20-21)
Carrier category
online resource
Carrier MARC source
rdacarrier.
Content category
text
Content type MARC source
rdacontent.
Control code
FIEb17733625
Extent
21 pages.
Form of item
electronic
Media category
computer
Media MARC source
rdamedia.
Specific material designation
remote
System control number
(OCoLC)1088451340
Label
Bad banks in the EU : the impact of Eurostat rules, by Christopher Gandrud and Mark Hallerberg, (electronic resource)
Link
http://bruegel.org/publications/
Publication
Bibliography note
Includes bibliographical references (pages 20-21)
Carrier category
online resource
Carrier MARC source
rdacarrier.
Content category
text
Content type MARC source
rdacontent.
Control code
FIEb17733625
Extent
21 pages.
Form of item
electronic
Media category
computer
Media MARC source
rdamedia.
Specific material designation
remote
System control number
(OCoLC)1088451340

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