Managing Systemic Banking Crises

Front Matter

Front Matter

Author(s):
Marc Quintyn, and David Hoelscher
Published Date:
August 2003
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    Managing Systemic Banking Crises

    By a Staff Team Led by David S. Hoelscher and Marc Quintyn

    INTERNATIONAL MONETARY FUND

    Washington DC

    2003

    © 2003 International Monetary Fund

    Production: IMF Multimedia Services Division

    Figures: Theodore F. Peters, Jr.

    Typesetting: Alicia Etchebarne-Bourdin

    Cataloging-in-Publication Data

    Hoelscher, David S.

    Managing systemic banking crises / by a staff team led by David S. Hoelscher and Marc Quintyn—Washington, D.C.: International Monetary Fund, 2003.

    p. cm.—(Occasional paper, ISSN 0251-6365; 224)

    • Includes bibliographical references.

    • ISBN 1-58906-224-8

    1. Banks and banking. 2. Financial crises. I. Quintyn, Marc. II. International Monetary Fund. III. Occasional paper (International Monetary Fund); no. 224.

    HG1601.H53 2003

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    Contents

    The following symbols have been used throughout this paper:

    • … to indicate that data are not available;

    • — to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;

    • – between years or months (e.g., 2001–02 or January–June) to indicate the years or months covered, including the beginning and ending years or months;

    • / between years (e.g., 2001/02) to indicate a fiscal (financial) year.

    “n.a.” means not applicable.

    “Billion” means a thousand million.

    Minor discrepancies between constituent figures and totals are due to rounding.

    The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.

    Preface

    This paper updates the International Monetary Fund’s work on general principles, strategies, and techniques for managing systemic banking crises in light of the new challenges faced in recent financial sector crises.

    The project was carried out in the Monetary and Financial Systems Department (MFD) under the supervision of Stefan Ingves, Director of MFD, and Carl-Johan Lindgren. Both gave intellectual direction and clarity to the department’s work, drawing from their significant experiences in the field.

    The material in this paper was originally prepared in late 2002 for the IMF’s Executive Board and was subsequently discussed by the Core Principles Liaison Group of the Basel Committee on Banking Supervision in April 2003. The final paper has further benefited from comments by Executive Directors and IMF staff.

    The paper reflects in particular the contributions of the staff of MFD’s Systemic Banking Issues Division. The authoring team included Michael Andrews, Luis Cortavarría, Fernando Delgado, Olivier Frécaut, Dong He, Mats Josefsson, Yuri Kawakami, Marina Moretti, Alvaro Piris, Steven Seelig, and Michael Taylor. Silvia Ramirez provided valuable research assistance, and the paper would not have been completed without the excellent secretarial assistance of Sandra Solares. Gail Berre of the External Relations Department edited the paper and coordinated production of the publication.

    The views expressed in this paper, as well as any errors, are the sole responsibility of the authors and do not necessarily represent the opinions of the IMF Executive Board or other members of the IMF staff.

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