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Europe > Ireland

You are looking at 1 - 6 of 6 items for :

  • Type: Journal Issue x
  • Crisis Management x
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Cover IMF Staff Country Reports
Ireland: Financial Sector Assessment Program-Technical Note on Financial Safety Nets and Crisis Management
International Monetary Fund. Monetary and Capital Markets Department
This paper discusses Ireland’s technical note on financial safety nets and crisis management. This note assesses the bank recovery, resolution, and crisis preparedness regime in Ireland. It analyzes laws, policies, procedures, institutional capacity and coordination arrangements for bank failure resolution and for managing financial distress and crises. The assessment is focused on banks under the direct remit of the Central Bank of Ireland and does not evaluate the role played by the European Central Bank and the Single Resolution Board for Ireland’s largest banks. The note also assesses steps toward adopting a recovery and resolution regime for insurers. Substantive efforts have been made to propose a resolution regime for insurers and to identify scope for improving the existing insolvency framework as it applies to insurers. This note recommends that the Department of Finance should explore providing statutory protections to persons selected by the Central Bank albeit appointed by the Court for resolution purposes. It also recommends that the Central Bank and Department of Finance should seek the views of the competition authority on the extent to which resolution regime legislation overrides national competition rules.
Keywords:
Ulster bank Ireland; European Union bank recovery; resolution regime legislation; supervisory function; resolution function; government ownership; C. bank winding-up; Bank resolution; Crisis management; Bank resolution framework; Bank liquidation; Europe
Cover IMF Staff Country Reports
Ireland: Financial Sector Assessment Program: Technical Note-Financial Safety Net, Bank Resolution, and Crisis Management
International Monetary Fund. Monetary and Capital Markets Department
This Technical Note discusses the findings and recommendations in the Financial Sector Assessment Program for Ireland regarding the financial safety net, bank resolution, and crisis management. The introduction of the “single rulebook” for financial services regulation within the European Union and the establishment of the banking union have transformed the Irish framework for dealing with failing banks. The new regime reflects an EU-wide initiative to strengthen supervision, harmonize prudential rules, and establish a uniform bank resolution regime. The Bank Recovery and Resolution Directive has significantly strengthened the resolution regime in Ireland and the European Union. Significant progress has also been made on the banking union, although key aspects remain to be completed.
Keywords:
ISCR; CR; central Bank of Ireland; resolution authorities; credit union; bank recapitalization; resolution authority; uniform bank resolution regime; resolution scheme; financial support; resolution plan; SPE resolution strategy; government stabilization tool; resolution framework; resolution planning; stabilization tool; resolution period; Bank resolution framework; Bank resolution; Credit bureaus; Crisis resolution; Crisis management; Europe; Southern Europe
Cover Policy Papers
Progress Report to the International Monetary and Financial Committee on the Activities of the Independent Evaluation Office of the IMF
International Monetary Fund
This report summarizes the outcome of the IEO’s evaluation of The IMF and the Crises in Greece, Ireland, and Portugal, discussed by the Executive Board on July 19, 2016, and reports on recent follow-up and ongoing IEO work.
Keywords:
PP; IMF governance; IEO evaluation of IMF; evaluation; IMF performance; IMF's work; IEO evaluation; IEO recommendation; Revenue administration transparency and accountability; Monetary unions; Crisis management; Currency crises; Europe
Cover Policy Papers
Progress Report to the International Monetary and Financial Committee on the Activities of the Independent Evaluation Office of the IMF
International Monetary Fund
This progress report presents the key conclusions and recommendations of the IEO evaluation of data and statistics at the IMF that was discussed by the Executive Board on March 17, 2016. It also summarizes the IMF's plan, approved by the Board in December 2015, for implementing the recommendations from the IEO evaluation of the IMF Response to the Financial and Economic Crisis and describes the IEO’s ongoing work.
Keywords:
PP; IMF response; IEO evaluation; IMF surveillance; evaluation; evaluation of IMF; IMF's plan; Crisis management; Crisis prevention; Crisis resolution; Financial sector; Global
Cover IMF Working Papers
Competition Policy for Modern Banks
Mr. Lev Ratnovski
Traditional bank competition policy seeks to balance efficiency with incentives to take risk. The main tools are rules guiding entry/exit and consolidation of banks. This paper seeks to refine this view in light of recent changes to financial services provision. Modern banking is largely market-based and contestable. Consequently, banks in advanced economies today have structurally low charter values and high incentives to take risk. In such an environment, traditional policies that seek to affect the degree of competition by focusing on market structure (i.e. concentration) may have limited effect. We argue that bank competition policy should be reoriented to deal with the too-big-to-fail (TBTF) problem. It should also focus on the permissible scope of activities rather than on market structure of banks. And following a crisis, competition policy should facilitate resolution by temporarily allowing higher concentration and government control of banks.
Keywords:
WP; bank; lending; value; bank competition policy; TBTF; Banks; Competition Policy; Macroprudential Policy; Systemic Risk; core bank activity; bank merger; market structure; TBTF bank; bank lending; Competition; Bank soundness; Crisis management; Commercial banks; Europe
Cover Staff Discussion Notes
Crisis Management and Resolution: Early Lessons from the Financial Crisis
Ceyla Pazarbasioglu
,
Mr. Luc Laeven
,
Mrs. Oana M Croitoru
,
Mr. Stijn Claessens
,
Mr. Fabian Valencia
,
Mr. Marc C Dobler
, and
Katharine Seal
Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.
Keywords:
SDN; crisis; bank; asset; bank asset quality; bank assets; recent crisis; past crisis; banking system; crisis response; problem assets; increase bank loss; asset guarantee; AIG assets; nonviable bank; accommodative monetary policy; profit stream; asset transfer; asset relief; bank resolution agency; Global; Crisis management; Financial statements; Distressed assets; Asset restructuring; lessons from the financial crisis; lessons from the Financial CrisisCrisis Management; early lesson; Financial crises; resolution; moral hazard; too big to fail; stress tests; burden sharing; financial stability