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U.K. approach to financial crisis management
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Singh, Dalvinder (2010) U.K. approach to financial crisis management. Working Paper. Coventry: University of Warwick. Warwick School of Law Research Paper (Number 2010/16).
An open access version can be found in:
Official URL: http://ssrn.com/abstract=1650559
Abstract
National governments have been forced to use an extraordinary amount of public resources and techniques to contain the global financial crisis (“the crisis”). This Article analyzes the role of the U.K. Tripartite Authorities in dealing with the crisis - both the “ordinary” measures, such as the Bank of England’s role as Lender of Last Resort, and the “extraordinary” measures it used, such as blanket guarantees, recapitalization, and asset purchase schemes. It evaluates the U.K. response and the challenges of this period of containment by comparing issues that arose from past financial crises. The Article concludes that the containment of a financial crisis of systemic proportions requires both an overarching and a case-by-case approach to deal with banks experiencing insolvency rather than liquidity problems.
Item Type: | Working or Discussion Paper (Working Paper) | ||||
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Divisions: | Faculty of Social Sciences > School of Law | ||||
Series Name: | Warwick School of Law Research Paper | ||||
Publisher: | University of Warwick | ||||
Place of Publication: | Coventry | ||||
Official Date: | 29 July 2010 | ||||
Dates: |
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Number: | Number 2010/16 | ||||
Number of Pages: | 55 | ||||
Institution: | University of Warwick | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Open Access (Creative Commons) | ||||
Open Access Version: |
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