Valuation reports in the context of banking resolution: What are the challenges?
The paper discusses the problem of valuation in bank resolution. In an overview over the most relevant principles of valuation theory, the paper notes the difficulties inherent in valuing risks and illiquidity in holding non-traded assets. Subsequently, the paper briefly reviews the resolution of Banco Popular Español, and then discusses the need for clarification of the no-investor-worse-off principle, the relation between the price in a sale of business and the presumed outcome in an insolvency procedure, and the difficulties attached to assessing the value of an illiquid asset that is held. The paper concludes with a discussion of the need for time, for valuation and in resolution, warns against a moratorium on withdrawals and payouts, and argues that time pressures would be much reduced if funding in resolution was provided for.
Detaljna analiza
Informacije o dokumentu
Vrsta publikacije
Područje politike
Ključna riječ
- bankarska politika
- EKONOMIJA
- ekonomska politika
- ekonomska stabilizacija
- EUROPSKA UNIJA
- Europsko nadzorno tijelo za bankarstvo
- FINANCIJE
- financijska intervencija
- financijska pomoć
- gospodarsko stanje
- građansko pravo
- institucije EU-a i europska javna služba
- investicijsko društvo
- kreditna ustanova
- kreditne i financijske institucije
- likvidnost tržišta novca
- MEĐUNARODNI ODNOSI
- monetarna ekonomija
- organizacija poslovanja
- platežna sposobnost
- poduzeće u poteškoćama
- politika suradnje
- POSLOVANJE I KONKURENCIJA
- potpora za restrukturiranje
- PRAVO
- slobodno kretanje kapitala
- TRGOVINA
- trgovinska politika
- tržišni nadzor