10 The US Paradigm: Deposit Insurer as Resolution Authority

2015 ◽  
Author(s):  
Kleftouri Nikoletta
Keyword(s):  
Deposit Insurance ◽  
The United States ◽  
Insurance Fund ◽  
Single Institution ◽  
Successful Model ◽  
Bank Resolution ◽  
Large Numbers ◽  
The Us ◽  
Federal Deposit Insurance

Banking crises prompted the United States to make lending of last resort, deposit insurance, and bank resolution federal responsibilities long before banks crossed state lines in large numbers. The US system offers an existing and successful model, whereby the deposit insurance and resolution functions are combined under a single institution, the Federal Deposit Insurance Corporation. The key objective underpinning the FDIC’s choice among different resolution options is that the chosen resolution is that which would result in the least cost to the deposit insurance fund. This chapter sets out the role of the FDIC as the deposit insurer, supervisor, and resolution authority, while also examining some key principles of the US approach to dealing with failing banks.

13 Resolution in the UK and US: Variations to the Same Goals

2016 ◽  
Author(s):  
Krimminger Michael
Keyword(s):  
Deposit Insurance ◽  
Global Financial Crisis ◽  
Single Point ◽  
Insurance Fund ◽  
Troubled Asset Relief Program ◽  
Point Of Entry ◽  
The Us ◽  
The Uk ◽  
Federal Deposit Insurance ◽  
National Governments

This chapter explores the US and UK’s response to the 2007–9 Global Financial Crisis. In both cases, funding for the resolution and restructuring of failing financial companies came from public sources-generally national governments and central banks funded by the private creditors or other private sources. In the UK, the resolution actions relied solely on taxpayer financing. In the US, the government’s actions relied on Federal Reserve funding, Treasury funding through the Troubled Asset Relief Program (TARP), and Federal Deposit Insurance Corporation (FDIC) funding from the Deposit Insurance Fund. The chapter also assesses the role of bail-in under the Resolution Authorities and concludes with a brief summary of the UK and EU approach to single point of entry (SPOE) strategy.

Part II The US Resolution Regime, 5 Fundamentals of Resolution Authority

2016 ◽  
Author(s):  
Gleeson Simon ◽  
Guynn Randall
Keyword(s):  
United States ◽  
Capital Structure ◽  
Deposit Insurance ◽  
Due Process ◽  
The United States ◽  
The Core ◽  
Current State ◽  
The Us ◽  
Insurance Programme ◽  
Federal Deposit Insurance

This chapter looks at the history and fundamental elements of resolution authority as it has been developed and used in the United States. The goal of resolution authority in the United States has been to deal with failed banks and other financial institutions in a manner that stems runs, avoids contagion and preserves critical operations, the same goal as deposit guarantee schemes. First introduced in the United States in 1933 as part of the deposit insurance programme for banks, resolution authority was originally little more than the method by which the Federal Deposit Insurance Corporation honoured its obligations to insured depositors before evolving to its current state. Resolution authority, as conceived in the United States, has two principal components—the core resolution powers and the claims process. The core resolution powers consist of the authority to quickly separate the assets and viable parts of a failed bank's business (the good bank) from its capital structure liabilities (the bad bank), so that its critical operations are preserved and runs and contagion are avoided. It is virtually always completed in the United States over a weekend commonly known as resolution weekend. The claims process involves determining the validity and amount of the claims of individual holders of capital structure liabilities in accordance with ordinary principles of due process and distributing the residual value of the good bank to such holders in satisfaction of their claims. The claims process typically takes at least six to nine months to be completed in order to comply with ordinary principles of due process for potential claimants.

Bank Resolution and Crisis Management

2016 ◽  
Author(s):  
Gleeson Simon ◽  
Guynn Randall
Keyword(s):  
Deposit Insurance ◽  
Global Financial Crisis ◽  
Policy Makers ◽  
The Great Depression ◽  
Bank Resolution ◽  
The Us ◽  
Bankruptcy Code ◽  
The Uk ◽  
Federal Deposit Insurance ◽  
Financial Transactions

The 2008 global financial crisis ushered in the biggest explosion in new bank regulation around the world since the Great Depression. Governments and regulators have sought to put measures in place to prevent the failure of banks, but have acknowledged the need for measures to address what happens when banks fail or are threatened with failure. This book deals with the measures which European, US, and international law and policy-makers have sought to put in place to manage failure of financial institutions. Measures such as ‘bail-out’ (protecting private shareholders and creditors against losses) and ‘bail-in’ (imposing losses on shareholders and long-term creditors without causing contagion among short-term creditors) are discussed. The work includes summaries and commentary on the EU Bank Recovery and Resolution Directive, the UK resolution laws including the Banking Act 2009 and amendments to that Act, the Orderly Liquidation Authority under Title II of the US Dodd‒Frank Act, resolution under Chapter 11 of the US Bankruptcy Code, the proposed new Chapter 14 to the US Bankruptcy Code, and the bank resolution provisions of the US Federal Deposit Insurance Act. Special emphasis is given to the practical effect of such measures on financial transactions and their impact on arrangements, such as netting and set-off. There is also commentary on the role of depositor protection schemes and their role in returning money to the depositors in a failing bank.

The Reform of Federal Deposit Insurance

1989 ◽  
Vol 3 (4) ◽  
pp. 11-29 ◽  
Author(s):  
Lawrence J White
Keyword(s):  
Commercial Banks ◽  
Deposit Insurance ◽  
Current System ◽  
The United States ◽  
Government Agency ◽  
Insurance Fund ◽  
Financial Condition ◽  
Savings And Loan ◽  
Federal Deposit Insurance ◽  
The U.S

In early 1989, the system of deposit insurance in the United States was in crisis. The Federal Savings and Loan Insurance Corporation (FSLIC), the U.S. government agency that provided deposit insurance for savings and loan (thrift) institutions, had sustained massive losses from the insolvencies of hundreds of thrifts. Tens of billions of dollars of general Treasury revenues will be necessary to make good the losses in the insurance fund, which had previously been financed solely through premiums assessed on thrifts' deposits. The Federal Deposit Insurance Corporation (FDIC), which provides similar insurance for deposits in commercial banks, has sustained much smaller losses but is considered to be in poor enough financial condition that its premium assessments will increase substantially. This article will review the current system of deposit insurance and advocate a set of necessary reforms.

Public perceptions of who counts as a scientist for controversial science

2019 ◽  
Vol 28 (7) ◽  
pp. 797-811 ◽  
Author(s):  
Brianne Suldovsky ◽  
Asheley Landrum ◽  
Natalie Jomini Stroud
Keyword(s):  
Climate Change ◽  
Media Coverage ◽  
Political Ideology ◽  
Genetically Modified Organisms ◽  
The United States ◽  
Public Perceptions ◽  
The Public ◽  
The Us ◽  
Science Media

In an era where expertise is increasingly critiqued, this study draws from the research on expertise and scientist stereotyping to explore who the public considers to be a scientist in the context of media coverage about climate change and genetically modified organisms. Using survey data from the United States, we find that political ideology and science knowledge affect who the US public believes is a scientist in these domains. Our results suggest important differences in the role of science media attention and science media selection in the publics “scientist” labeling. In addition, we replicate previous work and find that compared to other people who work in science, those with PhDs in Biology and Chemistry are most commonly seen as scientists.

scholarly journals Ukraine in the Focus of US Foreign Policy Priorities

2020 ◽  
pp. 66-79
Author(s):  
N. Gegelashvili ◽  
◽  
I. Modnikova ◽  
Keyword(s):  
United States ◽  
Soviet Union ◽  
The United States ◽  
Donald Trump ◽  
The Soviet Union ◽  
The Us ◽  
The World ◽  
The Russian Federation ◽  
Radical Transformation

The article analyzes the US policy towards Ukraine dating back from the time before the reunification of Crimea with Russia and up to Donald Trump coming to power. The spectrum of Washington’s interests towards this country being of particular strategic interest to the United States are disclosed. It should be noted that since the disintegration of the Soviet Union Washington’s interest in this country on the whole has not been very much different from its stand on all post-Soviet states whose significance was defined by the U,S depending on their location on the world map as well as on the value of their natural resources. However, after the reunification of Crimea with Russia Washington’s stand on this country underwent significant changes, causing a radical transformation of the U,S attitude in their Ukrainian policy. During the presidency of Barack Obama the American policy towards Ukraine was carried out rather sluggishly being basically declarative in its nature. When President D. Trump took his office Washington’s policy towards Ukraine became increasingly more offensive and was characterized by a rather proactive stance not only because Ukraine became the principal arena of confrontation between the United States and the Russian Federation, but also because it became a part of the US domestic political context. Therefore, an outcome of the “battle” for Ukraine is currently very important for the United States in order to prove to the world its role of the main helmsman in the context of a diminishing US capability of maintaining their global superiority.

scholarly journals "But I Didn't Mean To": The Role of Intent in American and Canadian Anti-Preference Law

2013 ◽  
Vol 50 (4) ◽  
pp. 815
Author(s):  
Clayton Bangsund
Keyword(s):  
United States ◽  
The United States ◽  
Policy Objective ◽  
The Us ◽  
The Way

In both the United States and Canada, bankruptcy preferential transfer avoidance provisions are aimed at creating equality of distribution among similarly situated creditors. However, there is a key difference in the way each jurisdiction’s regime treats the notion of intent. An analysis of each regime, using examples, illustrates the way in which Canada’s regime effectually does violence to the distributive equality policy objective, while the US regime adheres to it.

The Carter administration and the "communist question" in Italy. The political development and action, 1976-1978

2021 ◽  
pp. 101-126
Author(s):  
Alice Ciulla
Keyword(s):  
United States ◽  
Political Development ◽  
The United States ◽  
Carter Administration ◽  
Jimmy Carter ◽  
Electoral Campaign ◽  
The Us ◽  
Liberal Culture ◽  
Ambiguous Position

Jimmy Carter was elected President of the United States in November 1976. A few months earlier, the Italian elections marked an extraordinary result for the Italian Communist Party (PCI), and some of its members obtained institutional roles. During the electoral campaign, members of Carter's entourage released declarations that seemed to prelude to abandoning the anti-communist veto posed by previous governments. For a year after the inauguration, the US administration maintained an ambiguous position. Nonetheless, on 12 January 1978, the United States reiterated its opposition to any forms of participation of communists in the Italian government. Drawing on a varied set of sources and analysing the role of non-state actors, including think tanks and university centres, this article examines the debate on the Italian "communist question" within the Carter administration and among its advisers. Such discussion will be placed within a wider debate that crossed America's liberal culture.

Receiving Mass Casualties at Sea: The Capabilities of the Primary Casualty Receiving Facility

2004 ◽  
Vol 90 (2) ◽  
pp. 51-56
Author(s):  
G. W. L. Evans
Keyword(s):  
United States ◽  
The United States ◽  
Mass Casualties ◽  
Large Numbers ◽  
Eastern Seaboard

AbstractExercise Aurora (May-June 2004) off the eastern Seaboard of the United States provided an opportunity, on several occasions, to test the ability of the PCRF to cope with large numbers of “casualties” arriving simultaneously. This article reviews the role of the PCRF, its facilities and capabilities, and how these are currently utilised to handle mass casualties. Some of the valuable lessons identified from Exercise Aurora are briefly discussed.

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