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Two Approaches to Resolving Nonperforming Assets During Financial Crises

Two Approaches to Resolving Nonperforming Assets During Financial Crises »

Source: Two Approaches to Resolving Nonperforming Assets During Financial Crises

Volume/Issue: 2000/33

Series: IMF Working Papers

Author(s): David Woo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2000

ISBN: 9781451845174

Keywords: Nonperforming assets, asset management, debt workout, restructuring, loans, debt restructuring

The unprecedented rise in nonperforming assets during the recent Asian financial crisis severely tested the limit and capacity of the existing asset management infrastructure, leading policymakers to consider new a...

Benefits and Costs of Corporate Debt Restructuring

Benefits and Costs of Corporate Debt Restructuring »

Source: Benefits and Costs of Corporate Debt Restructuring : An Estimation for Korea

Volume/Issue: 2016/204

Series: IMF Working Papers

Author(s): Jae Chung , and Lev Ratnovski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 October 2016

ISBN: 9781475545418

Keywords: Corporate Debt, Stress-tests, Debt Restructuring, Korea

The paper offers a method to quantify benefits and costs of corporate debt restructuring, with an application to Korea. We suggest a 'persistent ICR<1' criterion to capture firms that had ICR<1 for multiple consecu...

Structuring and Restructuring Sovereign Debt

Structuring and Restructuring Sovereign Debt »

Source: Structuring and Restructuring Sovereign Debt : The Role of a Bankruptcy Regime

Volume/Issue: 2007/192

Series: IMF Working Papers

Author(s): Patrick Bolton , and Olivier Jeanne

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2007

ISBN: 9781451867565

Keywords: Sovereign Debt Restructuring Mechanism (SDRM), debt structure, sovereign debt restructuring, debt renegotiations, Sovereign Debt Restructuring Mechanism (sdrm) Mechanism (sdrm),

In an environment characterized by weak contractual enforcement, sovereign lenders can enhance the likelihood of repayment by making their claims more difficult to restructure ex post. We show however, that competi...

Valuation of Menu items in Debt Restructuring

Valuation of Menu items in Debt Restructuring »

Source: Valuation of Menu items in Debt Restructuring

Volume/Issue: 1989/69

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 September 1989

ISBN: 9781451960600

Keywords: debt reduction, debt restructuring, net debt, present value, debtor country

This paper outlines a procedure for calculating the cash value of &#x201C;menu items&#x201D; in debt restructuring proposals, including par and non-par exchanges, with enhancements consisting of either interest or...

Toward a Statutory Approach to Sovereign Debt Restructuring

Toward a Statutory Approach to Sovereign Debt Restructuring »

Source: Toward a Statutory Approach to Sovereign Debt Restructuring : Lessons From Corporate Bankruptcy Practice Around the World

Volume/Issue: 2003/13

Series: IMF Working Papers

Author(s): Patrick Bolton

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2003

ISBN: 9781451843026

Keywords: sovereign dept, debt restructuring, debt, restructuring, creditors, International Lending and Debt Problems,

This paper provides an overview of key elements of Corporate Bankruptcy Codes and Practice around the world that are relevant to the debate on Sovereign Debt Restructuring. It highlights four components common to m...

Insolvency and Enforcement Reforms in Italy

Insolvency and Enforcement Reforms in Italy »

Source: Insolvency and Enforcement Reforms in Italy

Volume/Issue: 2016/134

Series: IMF Working Papers

Author(s): José Garrido

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2016

ISBN: 9781475570243

Keywords: private debt, insolvency, debt restructuring, enforcement of debt.

Italian banks are burdened with high levels of nonperforming loans, the cleanup of which depends in important part on the efficiency of insolvency and enforcement processes. Traditionally, these processes in Italy...

Long-Term Returns in Distressed Sovereign Bond Markets: How Did Investors Fare?

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Long-Term Returns in Distressed Sovereign Bond Markets: How Did Investors Fare? »

Source: Long-Term Returns in Distressed Sovereign Bond Markets: How Did Investors Fare?

Volume/Issue: 2019/138

Series: IMF Working Papers

Author(s): Jochen Andritzky , and Julian Schumacher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2019

ISBN: 9781498317375

Keywords: Debt crisis, public debt, sovereign risk, sovereign default, bond restructuring

Sovereign debt restructurings are perceived as inflicting large losses to bondholders. However, many bonds feature high coupons and often exhibit strong post-crisis recoveries. To account for these aspects, we anal...

Recapitalizing Banks with Public Funds

Recapitalizing Banks with Public Funds »

Source: Recapitalizing Banks with Public Funds : Selected Issues

Volume/Issue: 1999/139

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1999

ISBN: 9781451856026

Keywords: asset management companies, asset valuation, bank restructuring agencies, Tier 1 capital, Tier 2 capital, restructuring, debt, loans, recapitalization, debt restructuring

Recapitalizing banks in a systemic crisis is a complex medium-term process that requires significant government intervention and careful management at both the strategic and individual bank levels. This paper highl...

Government Involvement in Corporate Debt Restructuring

Government Involvement in Corporate Debt Restructuring »

Source: Government Involvement in Corporate Debt Restructuring : Case Studies from the Great Recession

Volume/Issue: 2010/260

Series: IMF Working Papers

Author(s): David Grigorian , and Faezeh Raei

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2010

ISBN: 9781455209606

Keywords: corporate debt restructuring, contingent liablities, quasi-sovereign risk, debt restructuring, recapitalization, banking, Corporate Finance And Governance,

The paper examines recent episodes of government involvement in corporate debt restructurings. It argues that corporate debt restructuring is an important step toward recovery from a financial crisis. We then discu...

Sovereign Debt Restructurings 1950-2010

Sovereign Debt Restructurings 1950-2010 »

Source: Sovereign Debt Restructurings 1950-2010 : Literature Survey, Data, and Stylized Facts

Volume/Issue: 2012/203

Series: IMF Working Papers

Author(s): Christoph Trebesch , Michael Papaioannou , and Udaibir Das

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

ISBN: 9781475505535

Keywords: Sovereign Default, debt, restructuring, creditor, International Lending and Debt Problems,

This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering...