Preconditions for a successful implementation of supervisors' prompt corrective action
Subtitle: is there a case for a banking standard in the European Union?
By: María J. Nieto and Larry D. Wall.
Contributors: Wall, Larry D.; Federal Reserve Bank of Atlanta.
Series: Working paper series / Federal Reserve Bank of Atlanta -- 2006-27; Working paper series (Federal Reserve Bank of Atlanta : Online) -- 2006-27.
Publisher: Federal Reserve Bank of Atlanta
Published: 2006
Place of publication: [Atlanta, Ga.]
Language: eng
Format: Electronic resource
Description: "Over the past years, several countries around the world have adopted a system of prudential prompt corrective action (PCA).  The European Union countries are being encouraged to adopt PCA by policy analysts who explicitly call for its adoption.  To date, most of the discussion on PCA has focused on its overall merits.  This paper focuses on the preconditions needed for the adoption of an effective PCA.  These preconditions include conceptual elements such as a prudential supervisory focus on minimizing deposit insurance losses and mandating supervisory action as capital declines.  These preconditions also include institutional aspects such as greater supervisory independence and authority, more effective resolution mechanisms, and better methods of measuring capital"--Federal Reserve Bank of Atlanta web site.
Notes: Title from PDF file as viewed on 4/2/2007.

Includes bibliographical references.

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