kaal:claim:2061166-004

Purely national crisis measures proved ineffective during the financial crisis because they could not reach cross-border banking operations or contain contagion, as the failures of Lehman Brothers, Fortis, the Icelandic banks, Northern Rock and Hypo Real Estate Holding demonstrated.

Source quote, verbatim

national measures proved ineffective and failed to address cross-border banking operations or contagion.

From

Christoph K. Henkel, Wulf A. Kaal, Contingent Capital in European Union Bank Restructuring (2012), II. INTERNATIONAL MITIGATION INITIATIVES, RESOLUTION TOOLS AND FRAMEWORKS, p. 9
https://ssrn.com/abstract=2061166 · source PDF

Cite as

Christoph K. Henkel, Wulf A. Kaal, Contingent Capital in European Union Bank Restructuring (2012). SSRN: https://ssrn.com/abstract=2061166

Holds when

bank failures with cross-border operations
2007 to 2009 financial crisis

Classification

failuresupport: evidencedfailure: National-only crisis measures cannot reach cross-border operationsfamily: jurisdictional-conflictsystemic-risk

Verify

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Attestation record: colloquium/attestations/6d374aa0affa72c7...json
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