Publication:
Public Asset Management Companies: A Toolkit

dc.contributor.authorCerruti, Caroline
dc.contributor.authorNeyens, Ruth
dc.date.accessioned2016-05-24T15:39:14Z
dc.date.available2016-05-24T15:39:14Z
dc.date.issued2016-05-24
dc.description.abstractThis toolkit is designed for policy makers and stakeholders who are considering the establishment of a publicly funded asset management company (AMC). An AMC is a statutory body or corporation, fully or partially owned by the government, usually established in times of financial sector stress, to assume the management of distressed assets and recoup the public cost of resolving the crisis. AMCs were first used in the early 1990s in Sweden (Securum) and the United States (the RTC), and again during the Asian crisis (for instance, Danaharta in Malaysia, KAMCO in the Republic of Korea). The 2008 financial crisis marked a renewal of the use of this tool to support the resolution of financial crises (for instance, NAMA in Ireland, SAREB in Spain). The toolkit does not address broader bank resolution issues. It has a narrow focus on the specific tool of a public AMC established to support bank resolution, and with the objective of providing insight on the design and operational issues surrounding the creation of such AMCs. It seeks to inform policy makers on issues to consider if and when planning to establish a public AMC through: · An analysis of recent public AMCs established as a result of the global financial crisis · Detailed case studies in developed and emerging markets over three generations · A toolkit approach with questions and answers, including questions on design and operations that are critical for authorities confronted with the issue of whether to establish an AMC · An emphasis on “how to” that is, a practical versus a principled approach. The toolkit is structured as followed: Part I summarizes the findings on the preconditions, the design, and the operationalization of public AMCs. Part II provides case studies on three generations of AMCs, whose lessons are embedded in Part I. The case studies cover emerging and developed markets, and have been selected based on the lessons they offer.en
dc.identifier.doi10.1596/978-1-4648-0874-6
dc.identifier.isbn978-1-4648-0874-6
dc.identifier.urihttps://hdl.handle.net/10986/24332
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesWorld Bank Studies;
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectASSET MANAGEMENT COMPANY
dc.subjectSTRUCTURED FINANCIAL PRODUCTS
dc.subjectCORPORATE RESTRUCTURING
dc.subjectBANK RESOLUTION
dc.subjectNEGATIVE EQUITY
dc.subjectFINANCIAL CRISES
dc.subjectVESTING
dc.subjectDISTRESSED ASSET
dc.subjectMARKET VALUE
dc.subjectNPL
dc.subjectNONPERFORMING LOAN
dc.subjectASSET QUALITY REVIEW
dc.subjectAQR
dc.titlePublic Asset Management Companiesen
dc.title.subtitleA Toolkiten
dc.typeBooken
dc.typeLivrefr
dc.typeLibroes
dspace.entity.typePublication
okr.crossref.titlePublic Asset Management Companies: A Toolkit
okr.date.disclosure2016-05-24
okr.date.doiregistration2025-04-15T12:02:44.155483Z
okr.doctypePublications & Research
okr.doctypePublications & Research::Publication
okr.identifier.doi10.1596/978-1-4648-0874-6
okr.identifier.doihttps://doi.org/10.1596/978-1-4648-0874-6
okr.identifier.internaldocumentum210874
okr.identifier.report105984
okr.importedtrue
okr.language.supporteden
okr.pdfurlsftp://107.21.26.223:22//sftp/production/okr_delivery/1755340/9781464808746.pdfen
okr.topicFinance and Financial Sector Development::Bankruptcy and Resolution of Financial Distress
okr.topicFinance and Financial Sector Development::Banks & Banking Reform
okr.topicFinance and Financial Sector Development::Non Bank Financial Institutions
okr.topicGovernance::Governance and the Financial Sector
okr.unitGMF04
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