TY  - UNPD
A1  - Dübel, Hans-Joachim
T1  - The capital structure of banks and practice of bank restructuring : eight case studies on current bank restructurings in Europe ; final report
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2013,04
N2  - This study presents an empirical analysis of capital and liability management in eight cases of bank restructurings and resolutions from eight different European countries. It can be read as a companion piece to an earlier study by the author covering the specific bank restructuring programs of Greece, Spain and Cyprus during 2012/13.
The study portrays for each case the timelines between the initial credit event and the (last) restructuring. It proceeds to discuss the capital and liability management activity before restructuring and the restructuring itself, launches an attempt to calibrate the extent of creditor participation as well as expected loss by government, and engages in a counterfactual discussion of what could have been a least cost restructuring approach.
Four of the eight cases are resolutions, i.e. the original bank is unwound (Anglo Irish Bank, Amagerbanken, Dexia, Laiki), while the four other banks have de-facto or de-jure become nationalized and are awaiting re-privatization after the restructuring (Deutsche Pfandbriefbank/Hypo Real Estate, Bankia, SNS Reaal, Alpha Bank). The case selection follows considerations of their model character for the European bank restructuring and resolution policy discussion while straddling both the U.S. (2007 - 2010) and the European (2010 - ) legs of the financial crisis, which each saw very different policy responses....
T3  - CFS working paper series - 2013, 04 
Y1  - 2013
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/32481
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-324811
IS  - October 8, 2013
EP  - 74
PB  - Center for Financial Studies
CY  - Frankfurt, M.
ER  -