Two Approaches to Resolving Nonperforming Assets During Financial Crises

The unprecedented rise in nonperforming assets during the recent Asian financial crisis severely tested the limit and capacity of the existing asset management infrastructure, leading policymakers to consider new approaches to resolve them. This paper examines two such approaches—the creation of ass...

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Bibliographic Details
Main Author: Woo, David
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2000
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Two Approaches to Resolving Nonperforming Assets During Financial Crises  |c David Woo 
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300 |a 41 pages 
651 4 |a Korea, Republic of 
653 |a Economic & financial crises & disasters 
653 |a Depository Institutions 
653 |a Distressed assets 
653 |a Banks 
653 |a Finance 
653 |a Financial crises 
653 |a Corporate Finance and Governance: Government Policy and Regulation 
653 |a Banks and banking 
653 |a Industries: Financial Services 
653 |a Financial sector policy and analysis 
653 |a Financial institutions 
653 |a General Financial Markets: Government Policy and Regulation 
653 |a Micro Finance Institutions 
653 |a Financial Institutions and Services: Government Policy and Regulation 
653 |a Asset and liability management 
653 |a Mortgages 
653 |a International Financial Markets 
653 |a Asset management 
653 |a Loans 
653 |a Asset management companies 
653 |a Banks and Banking 
653 |a Asset-liability management 
653 |a Banking 
653 |a Financial Risk Management 
653 |a Finance: General 
653 |a Financial Crises 
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520 |a The unprecedented rise in nonperforming assets during the recent Asian financial crisis severely tested the limit and capacity of the existing asset management infrastructure, leading policymakers to consider new approaches to resolve them. This paper examines two such approaches—the creation of asset management companies and the development of out-of-court centralized corporate debt workout frameworks—that came to define the core asset management setting in countries most seriously affected by the crisis. In addition to investigating their respective role, and evaluating their strengths and weaknesses, this paper seeks to benchmark some best practices in their design