This article seeks to contribute to the debate on how to devise an appropriate legal framework for foreign bank operations. It considers the implications of the corporate form of foreign bank operations and examines how countries can protect domestic financial systems effectively from the...

Banks fulfill special functions in an economy. The primary objective of a bank insolvency regime must be to preserve these essential functions. This objective should guide the design of the legal framework for bank insolvency. The banking supervisory authority or a designated resolution...

This article considers the challenges for policy makers posed by the distress that can afflict large and complex financial institutions (LCFI) with a global reach. It explores the impediments to solutions that require close cooperation among national regulators and argues in favor of a pragmatic...