Stephanou, Constantinos2012-08-132012-08-132009-06https://hdl.handle.net/10986/10245The immediate financial sector policy responses to the financial crisis, including emergency liquidity support, expansion of financial safety nets, and interventions in financial institutions, have succeeded in stemming widespread panic. But the effort has generally been insufficient and ad hoc. Issues that remain include the resolution of problem assets, the restructuring of troubled, systemically important financial institutions, and the development of credible exit strategies. Only a handful of countries have attempted to tackle these issues head-on. As past experience has shown, that may well have negative repercussions for the duration and strength of a subsequent recovery.CC BY 3.0 IGOACCOUNTABILITYACCOUNTINGADVERSE EFFECTSASSET PRICESASSET RESOLUTIONASSETSAUCTIONAUCTION MECHANISMSAUDITSBAD BANKBANK BALANCE SHEETSBANK DEBTBANK FINANCINGBANK FOR INTERNATIONAL SETTLEMENTSBANK GOVERNORSBANK OPERATIONSBANK RESTRUCTURINGBANKING CRISESBANKING CRISISBANKING SYSTEMCAPITAL ACCOUNTCAPITAL ADEQUACYCAPITAL FLOWSCAPITAL INFLOWSCAPITAL INJECTIONSCAPITAL MARKETSCAPITAL NEEDSCAPITAL OUTFLOWSCENTRAL BANKCENTRAL BANKSCOMMODITYCOMMODITY PRICESCOMMON SHARESCONTINGENCY PLANNINGCORPORATE DEBTCORPORATE GOVERNANCECREDIT CRUNCHCREDIT FLOWSCREDIT GROWTHCREDIT GUARANTEESCREDIT LOSSESCREDIT MARKETSCREDIT UNDERWRITINGCREDITORSCREDITWORTHINESSCURRENCYCURRENCY MISMATCHESDEBT CAPITALDEBT ISSUANCEDEBT ISSUESDEPOSITDEPOSIT INSURANCEDEPOSIT INSURANCE COVERAGEDEPOSIT INSURANCE SCHEMESDEPOSIT MOBILIZATIONDEPOSITORSDEPOSITSDISTRESSED ASSETSDOMESTIC BANKINGDOMESTIC BANKSDOMESTIC LIQUIDITYECONOMIC ACTIVITYECONOMIC RECESSIONECONOMIC STRUCTUREEMERGENCY LIQUIDITY SUPPORTEMERGING ECONOMIESEMERGING MARKETSEMERGING-MARKETEXCHANGE RATESEXPOSURESEXTERNAL DEFICITSEXTERNAL FINANCINGEXTERNAL SHOCKEXTERNALITIESFINANCIAL CRISESFINANCIAL CRISISFINANCIAL ENGINEERINGFINANCIAL HEALTHFINANCIAL INNOVATIONFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL MARKETFINANCIAL PENETRATIONFINANCIAL REFORMSFINANCIAL REGULATIONFINANCIAL SAFETYFINANCIAL SAFETY NETSFINANCIAL SECTORFINANCIAL SECTOR POLICYFINANCIAL SERVICESFINANCIAL STABILITYFINANCIAL SYSTEMFINANCING NEEDSFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN EXCHANGE RESERVESFORMS OF DEBTGLOBAL BANKINGGLOBAL FINANCIAL MARKETGLOBALIZATIONGOVERNANCE PRACTICESGOVERNANCE STRUCTUREGOVERNMENT GUARANTEEGOVERNMENT SUPPORTGROWTH RATESILLIQUIDITYINCOMEINFLATIONINSTITUTIONAL FRAMEWORKINTEREST RATESINTERNATIONAL CAPITALINTERNATIONAL CAPITAL MOBILITYINTERNATIONAL SETTLEMENTSINVESTOR CONFIDENCELACK OF CREDIBILITYLACK OF TRANSPARENCYLEGAL POWERSLENDERLENDER OF LAST RESORTLINES OF CREDITLIQUIDITYLOANLOAN PORTFOLIOSMARKET ECONOMIESMARKET PARTICIPANTSMATURITYMONETARY FUNDMONETARY POLICYMORAL HAZARDMORTGAGEMORTGAGE MARKETNONBANK FINANCIAL INSTITUTIONSNONPERFORMING LOANSOUTPUTPOLICY RESPONSEPOLICY RESPONSESPRIVATE FINANCIAL INSTITUTIONSPRIVATE INVESTMENTPRIVATE INVESTORSPRIVATE SECTOR DEVELOPMENTPRIVATIZATIONPROBLEM LOANSPROVISION OF CREDITPRUDENTIAL REQUIREMENTSPUBLIC POLICYPUBLIC SECTOR DEBTREAL SECTORRECAPITALIZATIONRECESSIONREGULATORSREMITTANCESRESERVERESERVE REQUIREMENTSRISK AVERSIONRISK SHARINGSAFETY NETSSECURITIESSHAREHOLDERSHAREHOLDERSSOLVENCYSOLVENCY PROBLEMSSOLVENTSTATE GUARANTEESTATE INTERVENTIONSUBSIDIZATIONSUPPORT FROM GOVERNMENTSSWAPSYSTEMIC RISKSYSTEMIC STABILITYTRADE FINANCEVALUATIONVALUATIONSWORKOUTWORKOUTSWorld Bank10.1596/10245