{
  "title": "Resolution of Banking Crises: The Good, the Bad, and the Ugly",
  "publication": "IMF Working Papers, June 1, 2010",
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  "summary": "This paper presents a new database of systemic banking crises for the period 1970-2009. While there are many commonalities between recent and past crises, both in terms of underlying causes and policy responses, there are some important differences in terms of the scale and scope of interventions.",
  "sections": [
    {
      "heading": "Overview and dataset",
      "content": "- Presents a new database of systemic banking crises for the period 1970-2009.\n- Paper type: IMF Working Paper.\n- Authors: Luc Laeven, Fabian Valencia.\n- Date: June 1, 2010.\n- Pages: 35.\n- Volume: 2010.\n- Issue: 146.\n- Series: Working Paper No. 2010/146.\n- DOI: https://doi.org/10.5089/9781455201297.001.\n- Stock No: WPIEA2010146.\n- ISBN: 9781455201297.\n- ISSN: 1018-5941."
    },
    {
      "heading": "Key findings",
      "content": "- There are many commonalities between recent and past crises in terms of underlying causes and policy responses.\n- Important differences exist in the scale and scope of interventions between recent and past crises.\n- Direct fiscal costs to support the financial sector were smaller in the recent crisis as a consequence of:\n  - swift policy action;\n  - significant indirect support from expansionary monetary and fiscal policy;\n  - the widespread use of guarantees on liabilities;\n  - direct purchases of assets.\n- While these policies reduced the real impact of the current crisis, they have:\n  - increased the burden of public debt;\n  - increased the size of government contingent liabilities;\n  - raised concerns about fiscal sustainability in some countries."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: Banking, Banking crises, Financial crises, Liquidity, Systemic crises.\n- Keywords: asset, bank, banking crisis, crisis, financial institution, WP."
    },
    {
      "heading": "Summary conclusions for policymakers",
      "content": "- Rapid policy interventions combined with indirect support (expansionary monetary and fiscal policy), guarantees on liabilities, and asset purchases can limit the immediate real impact of systemic banking crises.\n- Such interventions, however, carry fiscal trade-offs by increasing public debt burdens and enlarging government contingent liabilities, which can compromise fiscal sustainability in some countries.\n\nSource: IMF Working Paper \"Resolution of Banking Crises: The Good, the Bad, and the Ugly\" by Luc Laeven and Fabian Valencia (June 1, 2010).\n\n---\n\n Content in this bundle\n\n- Microsoft Word - Resolution of Banking Crises - The Good Bad and Ugly.docx\n  - Microsoft Word - Resolution of Banking Crises - The Good Bad and Ugly.docx (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Microsoft Word - Resolution of Banking Crises - The Good Bad and Ugly.docx (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/resolution-of-banking-crises-the-good-the-bad-and-the-ugly-23971"
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    "Authors: Luc Laeven, Fabian Valencia",
    "Published: June 1, 2010",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781455201297.001",
    "Presents a new database of systemic banking crises for the period 1970-2009.",
    "Paper type: IMF Working Paper.",
    "Authors: Luc Laeven, Fabian Valencia.",
    "Date: June 1, 2010.",
    "Pages: 35.",
    "Volume: 2010.",
    "Issue: 146.",
    "Series: Working Paper No. 2010/146.",
    "DOI: https://doi.org/10.5089/9781455201297.001.",
    "Stock No: WPIEA2010146.",
    "ISBN: 9781455201297.",
    "ISSN: 1018-5941.",
    "There are many commonalities between recent and past crises in terms of underlying causes and policy responses.",
    "Important differences exist in the scale and scope of interventions between recent and past crises.",
    "Direct fiscal costs to support the financial sector were smaller in the recent crisis as a consequence of:",
    "While these policies reduced the real impact of the current crisis, they have:",
    "Subject: Banking, Banking crises, Financial crises, Liquidity, Systemic crises.",
    "Keywords: asset, bank, banking crisis, crisis, financial institution, WP.",
    "Rapid policy interventions combined with indirect support (expansionary monetary and fiscal policy), guarantees on liabilities, and asset purchases can limit the immediate real impact of systemic banking crises.",
    "Such interventions, however, carry fiscal trade-offs by increasing public debt burdens and enlarging government contingent liabilities, which can compromise fiscal sustainability in some countries.",
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