Financial Institutions in Distress

"Financial Institutions in Distress: Recovery, Resolution, and Recognition" is a comprehensive book authored by Ronald Davis, Stephan Madaus, Monica Marcucci, Irit Mevorach, Riz Mokal, Rizwaan Jameel Mokal, Barbara Romaine, Janis Pearl Sarra, and Ignacio Tirado. The book addresses the complex issues surrounding financial institutions that face distress, exploring the challenges and potential solutions in a cross-border context.

Key Themes

1. Cross-Border Financial Intermediation:

   • The book delves into the intricacies of financial institutions operating across national borders, highlighting how distress in one country can transmit to others.

2. Regulatory Challenges:

   • It examines the difficulties policymakers and regulators face in creating effective regulations that can be applied across different jurisdictions.

3. Model Law Advocacy:

   • The authors advocate for the creation of a model law that would address the full range of financial institutions, including insurance companies. This model law would facilitate cooperation among relevant authorities before and during financial distress.

4. Empirical Data and Normative Methodology:

   • The book is grounded in a large body of empirical data collected from regulators in both the Global North and South. This empirical foundation leads to the development of a normative methodology aimed at addressing financial distress.

5. Recovery, Resolution, and Recognition:

   • The book explores various strategies for recovery, resolution, and recognition of distressed financial institutions, drawing on existing hard and soft laws and regulations.

Plot Summary

The book begins by analyzing existing laws and regulations related to financial institutions. It then delves into the empirical data collected from regulators to develop a comprehensive understanding of cross-border financial distress. The authors propose a model law that would enable cooperation among authorities in different jurisdictions to manage financial distress effectively. This model law aims to give appropriate effect to measures taken by counterpart authorities in other jurisdictions where the distressed institution operates.

Critical Reception

While specific reviews or critical analyses of the book are not provided in the search results, the book's comprehensive approach to addressing financial distress and its advocacy for a model law suggest it would be well-received by scholars and practitioners in the field of financial regulation and intermediation. The detailed examination of empirical data and the development of a normative methodology indicate a rigorous academic approach that could contribute significantly to the literature on financial institutions in distress.

Book Details

• Authors: Ronald Davis, Stephan Madaus, Monica Marcucci, Irit Mevorach, Riz Mokal, Rizwaan Jameel Mokal, Barbara Romaine, Janis Pearl Sarra, Ignacio Tirado
• Title: Financial Institutions in Distress: Recovery, Resolution, and Recognition
• Publisher: Oxford University Press
• Publication Date: November 25, 2023
• Pages: 368 pages
• Format: Hardcover
• Price: $444.40 (subject to change)

Overall, "Financial Institutions in Distress" offers a thorough examination of the complex issues surrounding financial institutions in distress, providing a comprehensive framework for recovery, resolution, and recognition. Its advocacy for a model law highlights the need for coordinated international efforts to manage financial distress effectively.