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)
Resource Information
The item Bad banks in the EU : the impact of Eurostat rules, by Christopher Gandrud and Mark Hallerberg, (electronic resource) represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in European University Institute.This item is available to borrow from 1 library branch.
Resource Information
The item Bad banks in the EU : the impact of Eurostat rules, by Christopher Gandrud and Mark Hallerberg, (electronic resource) represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in European University Institute.
This item is available to borrow from 1 library branch.
- 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
- Language
- eng
- 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
- 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)
- 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)
- 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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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.eui.eu/portal/Bad-banks-in-the-EU--the-impact-of-Eurostat/1__mtV4yaq8/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.eui.eu/portal/Bad-banks-in-the-EU--the-impact-of-Eurostat/1__mtV4yaq8/">Bad banks in the EU : the impact of Eurostat rules, by Christopher Gandrud and Mark Hallerberg, (electronic resource)</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.eui.eu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.eui.eu/">European University Institute</a></span></span></span></span></div>
