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Handling Systemically Important Banks in Distress - Some Thoughts from a Swedish Perspective
Stockholm University, Faculty of Law, Department of Law, Stockholm Centre for Commercial Law.
2011 (English)In: European Business Organization Law Review, Vol. 12, no 2, 227-250 p.Article in journal (Refereed) Published
Abstract [en]

This article discusses the management of systemically important banks in distress with the primary aim of creating a platform for further discussion. As a backdrop, the experiences gained in Sweden from two crises in less than 20 years are presented. After a discussion of the liquidityfactor and central banks 'role as lender of last resort, the focus is on handling the initial acute phase of a crisis. The appropriate goals of a crisis management system are discussed, as are ways of achieving immediate control of a bank in distress and principles related to the valuation of a bank in need of assistance. The main point presented is that the analytical building blocks are universal and by identifying them a common ground for further analysis could be established. One conclusion is that the proposed EU regime for crisis management in the financial sector will not be the final word. Finally, some thoughts regarding a pan-European system for crisis handling, based on a common corporate law for banks, are presented.

Place, publisher, year, edition, pages
T.M.C. Asser Press, 2011. Vol. 12, no 2, 227-250 p.
Keyword [en]
control, crisis management, emergency liquidity assistance, financial crisis, lender of last resort, special resolution regime, Societas Europaea, valuation, Sweden
National Category
URN: urn:nbn:se:su:diva-71254DOI: 10.1017/S1566752911200028ISI: 000291708100002OAI: diva2:484287
Available from: 2012-01-26 Created: 2012-01-26 Last updated: 2012-01-30Bibliographically approved

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Sjöberg, Gustaf
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Stockholm Centre for Commercial Law

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