EconPapers    
Economics at your fingertips  
 

Living Wills as a Catalyst for Action

Emilios Avgouleas, Charles Goodhart and Dirk Schoenmaker ()
Additional contact information
Emilios Avgouleas: ?
Charles Goodhart: ?

Working Papers from University of Pennsylvania, Wharton School, Weiss Center

Abstract: Living Wills should help the resolution of a cross-border financial institution in difficulties by clarifying and simplifying the legal structure, and making that legal structure commensurate with the functional business parts of the wider institution. An innovation could be to incorporate a proposal for burden sharing between countries in Living Wills. This may enable burden sharing on an institution by institution basis. There remain, however, problems arising from the inconsistencies and incompatibility of the laws relating to the insolvency procedures in the various countries. Many countries are currently introducing special laws covering the process of resolution of systemically important financial institutions. This creates a window of opportunity to introduce a consistent legal basis for the resolution of systemically important financial institutions across the G20 countries.

Date: 2010-02
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11) Track citations by RSS feed

Downloads: (external link)
http://fic.wharton.upenn.edu/fic/papers/10/10-09.pdf
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://fic.wharton.upenn.edu/fic/papers/10/10-09.pdf [301 Moved Permanently]--> https://wifpr.wharton.upenn.edu/fic/papers/10/10-09.pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ecl:upafin:10-09

Access Statistics for this paper

More papers in Working Papers from University of Pennsylvania, Wharton School, Weiss Center Contact information at EDIRC.
Bibliographic data for series maintained by ().

 
Page updated 2022-10-01
Handle: RePEc:ecl:upafin:10-09