Multiple safety net regulators and agency problems in the European Union
Subtitle: is prompt corrective action partly the solution?
By: David G. Mayes, Maria J. Nieto, and Larry Wall
Contributors: Nieto, María; Wall, Larry; Federal Reserve Bank of Atlanta
Series: Working paper series / Federal Reserve Bank of Atlanta -- 2007-9; Working paper series (Federal Reserve Bank of Atlanta : Online) -- 2007-9.
Publisher: Federal Reserve Bank of Atlanta
Published: 2007
Place of publication: Atlanta, Ga.]
Language: eng
Format: [electronic resource] :
Description: "This paper discusses the institutional changes needed in Europe if prompt corrective action (PCA) is to be effective in supervising and resolving cross-border banking groups.  The paper identifies these changes starting with enhancements in the availability of information on banking groups' financial condition to prudential supervisors.  Next, the paper considers the collective decision making by prudential supervisors with authority to make discretionary decisions within the PCA framework as soon as a bank in a cross-border banking group falls below the minimum capital standard.  Finally, the paper analyzes the coordination measures that should be implemented if PCA requires the bank to be resolved"--Federal Reserve Bank of Atlanta web site.
Notes: Title from PDF file as viewed on 7/23/2007.

Includes bibliographical references.

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Mode of access: World Wide Web.