Blanket Guarantees

• Tác giả: Erik Feyen
• Ngôn ngữ: eng
• Ký hiệu phân loại: 323.49 Limitation and suspension of civil rights
• Thông tin xuất bản: World Bank, Washington, DC, 2012
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 323511
• Chủ đề: 1. ACCESS TO FUNDS; 2. ACCESS TO INSURED DEPOSITS; 3. ASSETS; 4. ASSOCIATION OF DEPOSIT INSURERS; 5. BANK ACCOUNTS

Tóm tắt

The expansion of deposit insurance and introduction of debt guarantees have played a crucial role in containing the financial crisis while giving governments time to develop suitable policy responses. But these measures do not address the root causes of the crisis, and they lead to competitive distortions, moral hazard, and large fiscal contingent liabilities. Rolling them back is likely to require an internationally coordinated effort and an answer to the important question, 'exit to what?'