Suchergebnisse

This paper presents a new database on the timing of systemic banking crises and policy responses to resolve them. The database covers the universe of systemic banking crises for the period 1970-2007, with detailed data on crisis containment and resolution policies for 42 crisis episodes, and also includes data on the timing of currency crises and sovereign debt crises. The database extends and builds on the Caprio, Klingebiel, Laeven, and Noguera (2005) banking crisis database, and is the most complete and detailed database on banking crises to date

Cover -- Contents -- I. Introduction -- II. Definition of a Banking Crisis -- III. Banking Crises Episodes During 1970-2017 -- IV. Crises Sequencing -- V. Policy Response to Banking Crises -- A. Financial Sector Interventions during Crises -- B. Macro Policies -- VI. Crisis Outcomes -- A. Fiscal Costs of Banking Crises -- B. Peak Nonperforming Loans -- C. Systemic Banking Crisis Duration -- D. Output Losses -- VII. Conclusions -- References -- Appendix -- Figures -- 1. Frequency of Systemic Banking Crises Around the World, 1970-2011 -- 2. Systemic Banking Crises Episodes by Income Level 1970-2017 -- 3. Currency and Sovereign Debt Crises Episodes by Income level -- 4. Financial Crises by Type -- 5. Sequencing of Crises -- 6. Containment and Resolution Policies -- 7. Short-term Interest Rates and Fiscal Balances around Banking Crises -- 8. Gross and Net Fiscal Costs of Banking Crises -- 9. Fiscal Costs in Percent of Financial System Assets -- 10. Increases in Public Debt around Banking Crises -- 11. Peak NPLs in Banking Crises Episodes -- 12. Banking Crises Duration -- 13. Output Losses around Banking Crises -- 14. Output and Export Volume Paths around Banking Crises -- Appendix Tables -- 1. Crisis Dates -- 2. Banking Crises Resolution and Outcomes -- 3. Banking Crisis Policy Responses.

Recent financial sector crises and their resolution have raised new issues and provided additional experiences to draw on in the future. Banking sector problems in Russia, Turkey, and a few Latin American countries occurred within the context of highly dollarized economies, high levels of sovereign debt, severely limited fiscal resources, or combinations thereof. These factors have challenged the effectiveness of many of the typical tools for bank resolution. This publication focuses on the issues raised in systemic crises, not on the resolution of individual bank problems. Based on the lessons learned during the Asian crisis, it updates the IMF's work on the general principles, strategies, and techniques for managing these crises