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Crisis resolution database - Luc Laeven

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Crisis resolution database - Luc Laeven Powered By Docstoc
					Country name                                                                         Argentina    Argentina    Argentina     Argentina      Bolivia        Brazil


Overview
Crisis date (year and month)                                                           Mar-80       Dec-89       Jan-95       Dec-01       Nov-94         Feb-90
Currency crisis (Y/N) (t-1, t+1)                                                         Y            Y            N            Y              N             Y
     Year of currency crisis                                                            1981         1988                      2002                         1989
Sovereign debt crisis (Y/N) (t-1, t+1)                                                   N            N            N            Y              N             N
     Year of sovereign debt crisis                                                                                             2002
Brief description of crisis                                                                                                              of financial institutions of led the about wa
                                                                                                                                                       important overextended themse
                                                                                                               The a decline in number During external resources brought privatea pr
                                                                                     A banking crisis erupted in March 1980 as aplanhad accumulatedThe bank1991 monetary policysec
                                                                                                                          Argentina implemented since early credit imbalances, and
                                                                                                During the 1980s,convertibilitythe availability of1988-94 stance fiscalto to an increased


Initial conditions
                         Macro (as of the pre-crisis year)
     Fiscal balance/GDP                                                                -2.65%       -4.42%       0.03%        -3.61%        -3.00%          0.00%
     Public sector Debt/GDP                                                            10.20%       89.80%      33.70%        50.80%        76.00%         22.20%
     Inflation                                                                        139.74%      387.81%       3.85%        -0.73%         8.52%       1972.91%
     Net Foreign Assets (Central Bank) (in US$ millions)                               10,564        -3,549     11,789        21,880          214             12
     Net Foreign Assets/M2                                                             34.21%      -16.99%      25.90%        24.16%         7.89%          0.01%
     Deposits/GDP                                                                      22.24%       21.25%      14.96%        28.22%        34.87%        133.25%
     GDP growth                                                                         7.10%       -1.96%       6.25%        -0.79%         4.67%          3.20%
     Current Account/GDP                                                                0.55%       -1.23%      -2.83%        -3.15%        -3.99%          0.21%

                                      Banking
Public banks and NPL's
     Peak NPLs (as % of total loans; unofficial estimate)                               9.00%      27.00%       17.00%        20.10%         6.20%
     % of banking system assets that is government-owned as of t-1 (%)                 71.94%      60.50%       41.00%        30.00%         0.00%        31.70%
Significant bank runs (Y/N)                                                               Y           Y            Y             Y             Y             Y
     Largest one-month drop in deposits (in excess of 5%) during [t, t+1]              13.76%      26.65%        8.36%         6.84%         7.01%        14.63%
Credit boom (Y/N)                                                                         Y           N            Y             N             Y
     Annual growth in private credit to GDP leading up to crisis (t-4, t-1] (in %)     23.62%      -1.70%       18.90%         6.10%        22.50%

                                     Institutions
     Creditor rights (0-4)                                                                1            1           1             1             2             1
Country name                                                              Argentina   Argentina   Argentina   Argentina   Bolivia   Brazil

Containment phase
Deposit freeze and bank holiday
Deposit freeze (Y/N)                                                         N            Y          N           Y          N        Y
    Introduction of deposit freeze                                                      1989                    2001                1990
    Duration of deposit freeze (in months)                                               120                     12                  29
    Coverage of deposit freeze (time deposits only ? Y/N)                                 Y                      N                   N
Bank holiday (Y/N)                                                           N            Y          N           Y          N        N
    Introduction of bank holiday                                                        1990                    2001
    Duration of bank holiday (in days)                                                    4                       5

Blanket guarantee
Blanket guarantee (Y/N)                                                      N           N           N           N          N         N
    Date of introduction
    Date of removal
    Duration of guarantee (in months)
    Previous explicit deposit insurance arrangement (Y / N)                  Y           Y           Y           Y          N         N
    Administering agency
    Coverage of guarantee
    Timeline for guarantees, deposit freezes and bank holidays
          Timing of first bank intervention                                Mar-80      Feb-89      Jan-95      Apr-02     Nov-94
          Timing that first loan under liquidity assistance was granted                                                             Feb-90

Liquidity support
Liquidity support/emergency lending (Y/N)                                    Y           Y           N           Y          Y         Y
     Support different across banks? (Y/N)                                               N                       Y                    Y
     Collateral required                                                                 Y                       Y                    Y
     Remunerated (Y/N)                                                                   Y                                            Y
           If remunerated, interest at market rates (Y/N)                                                                             Y
     Peak support (in % of deposits)                                      15.60%      300.00%      4.15%      24.30%      13.90%    5.00%
     Lowering of reserve requirements (Y/N)                                  Y           N           Y           N           Y        N


Resolution phase
Country name                                                                      Argentina   Argentina   Argentina   Argentina     Bolivia       Brazil
Forbearance index
Forbearance(Y/N)                                                                     Y           N           N           Y            Y             N
    Banks permitted to continue functioning despite being technically insolvent      N                       N           Y            Y
    Prudential regulations were suspended or not fully applied                       Y                       N           Y            Y

Bank restructuring index
Large-scale government intervention in banks (Y/N)                                   Y           N           N           Y            Y             N
     Institutions closed (% of assets)                                              16%                    0.62%         0.00%     11.00%         0.00%
     Number of banks in t, where t is the first year of the crisis                  214         177         205          84          17            229
     Number of banks in t+3, where t is the first year of the crisis                203         165         143          73          14            245
Closures
     Bank closures (Y/N)                                                             Y           Y           Y           N            Y             N
           Number of banks closed                                                    21          28          5           0             2            0
     Other FI closures (Y/N)                                                         Y           Y           N           N            N             N
     Shareholder protection (were shareholders made whole? Y/N)                      N           N           N                        N
Nationalizations (Y/N)                                                               Y           N           N           Y            N             N
Mergers (Y/N)                                                                        Y           Y           Y           N            Y
     Did private shareholders/owners of banks inject fresh capital? (Y/N)                        Y           Y                        Y
Sales to foreigners (Y/N)                                                            Y           N           Y           N            Y             N
     Number of banks sold to foreigners                                              1            0                      0             4            0
Bank restructuring agency(Y/N)                                                       N           N           N           Y            Y             N
Asset management company(Y/N)                                                        N           N           N           N            Y             N
     Centralized (Y) / Decentralized (N)                                                                                              Y
     Entity in charge                                                                                                             FONDESIF
     Funding                                                                                                                      Debt from multilaterals
     Type of asset transferred                                                                                                    Bad loans

Recapitalization index
Recapitalization (Y/N)                                                               N           N           Y           Y            Y             N
    Recap measures
        Cash
        Government bonds                                                                                                 Y
        Subordinated debt                                                                                    Y                        Y
        Preferred shares
Country name                                                                    Argentina   Argentina   Argentina   Argentina   Bolivia    Brazil
         Purchase of bad loans                                                                                                    Y
         Credit line
         Assumption of bank liabilities
         Ordinary shares
         Other (please specify)
    Recap level (%)                                                                                                             8.00%
    Recap cost to government (gross) (as % of GDP)                                                       0.28%       9.58%      0.95%
    Recovery (Y/N)                                                                                         N           N          Y
        Recovery proceeds (% of GDP)                                                                        0           0       0.95%
    Recap cost to government (net) (as % of GDP)                                                         0.28%       9.58%      0.00%
Deposit insurance and depositor compensation
Deposit insurance(Y/N)                                                             Y           Y           Y           Y          N          N
    Formation                                                                     1979        1979        1979        1979
    Coverage limit (in local currency) at start of crisis                         Full        Full       30000       30000        0          0
    Coverage ratio (coverage limit to GDP per capita) at start of crisis                                  4.04        4.19        0          0
Were losses imposed on depositors? (Y/N)                                           N           Y           N           Y          Y          N
     If yes, severe=1, moderate=2                                                              1                        1         2
Macro Policies
Monetary policy index                                                              1            1          0          -1           0          1
    Average change in reserve money during years [t, t+3]) (in %)               324.16%     2046.85%                36.28%      18.80%    1673.69%

Fiscal policy index                                                                 1           1           1           1          1         -1
     Average fiscal balance during years [t, t+3] (in %)                         -6.82%      -3.86%      -2.24%      -7.23%     -3.02%     0.27%
     IMF program put in place (Y/N)                                                 Y           Y           Y           Y          N         Y
     IMF program put in place (year)                                              1983        1990        1995        2000                  1989


Outcome variables
Fiscal cost net (%GDP)                                                          55.10%       6.00%       2.00%       9.58%      2.65%      0.00%
     Gross                                                                      55.10%       6.00%       2.00%       9.58%      6.03%      0.00%
     Recovery during period t to t+5, where t is the first year of the crisis      0            0           0           0       3.37%      0.00%
Output loss
     Output loss during period t to t+3                                         10.81%      10.70%       7.13%      42.65%      0.00%     12.23%
Country name                                                                            Brazil     Bulgaria      Chile     Colombia Colombia 98Cote d'Ivoire


Overview
Crisis date (year and month)                                                           Dec-94       Jan-96      Nov-81       Jul-82      Jun-98       1988
Currency crisis (Y/N) (t-1, t+1)                                                         Y            Y           Y            N           N           N
     Year of currency crisis                                                            1993         1996        1982                     1997
Sovereign debt crisis (Y/N) (t-1, t+1)                                                   N            N           N            N           N            N
     Year of sovereign debt crisis
Brief description of crisis                                                                                 Before new TheChilean economy ownership of the of 1987 first problem
                                                                                                                          the concentration of wasThe of the “Plan hyperinflationde
                                                                                                                                                     characterized by the and was
                                                                                                 The 1996 entered a1973, phase roots in implementation duringduringReal” in July ofh
                                                                                     The Brazilian economybanking crisis had its with the bad loans maderecessionbanking sector the 19
                                                                                                                                        Capital account reversal 1991-1995, buthalf a


Initial conditions
                         Macro (as of the pre-crisis year)
     Fiscal balance/GDP                                                                  0.27%     -5.63%       4.99%       -2.26%       -3.95%      -7.19%
     Public sector Debt/GDP                                                             23.00%    106.40%                                30.19%
     Inflation                                                                        2477.15%     32.66%       31.24%      26.33%       17.68%       7.48%
     Net Foreign Assets (Central Bank) (in US$ millions)                                25,265       804         3,299       4,892       10,030       -1,221
     Net Foreign Assets/M2                                                              22.69%      9.66%       42.17%      45.95%       31.12%      -35.05%
     Deposits/GDP                                                                      101.43%     59.81%       26.62%      24.78%       36.14%      20.57%
     GDP growth                                                                          4.93%     -1.60%        7.94%       2.28%        3.43%       -0.50%
     Current Account/GDP                                                                -0.12%     -0.20%       -6.35%      -4.06%       -5.39%      -14.93%

                                      Banking
Public banks and NPL's
     Peak NPLs (as % of total loans; unofficial estimate)                              16.00%      75.00%       35.60%       4.10%       14.00%      50.00%
     % of banking system assets that is government-owned as of t-1 (%)                 31.70%      85.68%       19.72%      57.67%       53.62%      20.60%
Significant bank runs (Y/N)                                                               Y           Y            Y           N            N           N
     Largest one-month drop in deposits (in excess of 5%) during [t, t+1]               9.25%       9.44%        8.48%
Credit boom (Y/N)                                                                         N                        Y           N           N            N
     Annual growth in private credit to GDP leading up to crisis (t-4, t-1] (in %)      5.80%                   34.10%       5.40%       7.00%        0.00%

                                     Institutions
     Creditor rights (0-4)                                                                1           1            2           0            0           0
Country name                                                              Brazil    Bulgaria     Chile     Colombia Colombia 98Cote d'Ivoire

Containment phase
Deposit freeze and bank holiday
Deposit freeze (Y/N)                                                        N          N           N          N           N          N
    Introduction of deposit freeze
    Duration of deposit freeze (in months)
    Coverage of deposit freeze (time deposits only ? Y/N)
Bank holiday (Y/N)                                                          N          N           N          N           N          N
    Introduction of bank holiday
    Duration of bank holiday (in days)

Blanket guarantee
Blanket guarantee (Y/N)                                                     N          N           N          N           N          N
    Date of introduction
    Date of removal
    Duration of guarantee (in months)
    Previous explicit deposit insurance arrangement (Y / N)                 N          Y           N          N           Y          N
    Administering agency
    Coverage of guarantee
    Timeline for guarantees, deposit freezes and bank holidays
          Timing of first bank intervention                               Jul-94                 Nov-81     Jul-82                 1988
                                                                                   Early 1996 government removed management from 2 private banks
          Timing that first loan under liquidity assistance was granted

Liquidity support
Liquidity support/emergency lending (Y/N)                                   Y          Y           Y          Y           Y          Y
     Support different across banks? (Y/N)                                  Y                      N                      Y
     Collateral required                                                               N           N
     Remunerated (Y/N)                                                                 Y                                              Y
           If remunerated, interest at market rates (Y/N)                                                                             N
     Peak support (in % of deposits)                                      23.20%    22.90%     124.00%      14.90%      9.20%      59.00%
     Lowering of reserve requirements (Y/N)                                  N         N          Y            Y          N           N


Resolution phase
Country name                                                                      Brazil   Bulgaria   Chile    Colombia Colombia 98Cote d'Ivoire
Forbearance index
Forbearance(Y/N)                                                                    Y         Y         Y         N           Y            Y
    Banks permitted to continue functioning despite being technically insolvent     Y         Y         N         N           N            Y
    Prudential regulations were suspended or not fully applied                      Y         Y         Y         N           Y            Y

Bank restructuring index
Large-scale government intervention in banks (Y/N)                                  Y        Y           Y        Y          Y            Y
     Institutions closed (% of assets)                                            small     24.00%    20.00%    0.00%      9.90%      medium
     Number of banks in t, where t is the first year of the crisis                 246       45         61                   39           20
     Number of banks in t+3, where t is the first year of the crisis               238       34         45                   27           14
Closures
     Bank closures (Y/N)                                                           Y         Y          Y         N           Y            Y
           Number of banks closed                                                  41        16         8         0          12             6
     Other FI closures (Y/N)                                                       Y                    Y         N           Y            Y
     Shareholder protection (were shareholders made whole? Y/N)                    N          N                               N            N
Nationalizations (Y/N)                                                             N          Y         N         Y           Y            N
Mergers (Y/N)                                                                      Y          N         Y         N           Y            N
     Did private shareholders/owners of banks inject fresh capital? (Y/N)          Y                    Y                     Y            Y
Sales to foreigners (Y/N)                                                          Y          Y         Y         N           N
     Number of banks sold to foreigners                                             3         4         1         0           0
Bank restructuring agency(Y/N)                                                     N                    N         N           Y
Asset management company(Y/N)                                                      N          Y         N         N           Y            Y
     Centralized (Y) / Decentralized (N)                                                      N                               Y            Y
     Entity in charge                                                                                                                 SONARECI
                                                                                                                         Central de inversiones-Affiliate of the Deposit
     Funding                                                                                                             Public       Loans from Multilaterals
     Type of asset transferred                                                                                                        Assets C, D, and E.; assets given
                                                                                                                         Loans in Categories from liquidated banks

Recapitalization index
Recapitalization (Y/N)                                                              Y         Y         Y         Y           Y            Y
    Recap measures
        Cash                                                                        Y                   Y         Y                        Y
        Government bonds                                                                      Y         Y
        Subordinated debt                                                                                                     Y
        Preferred shares
Country name                                                                     Brazil   Bulgaria   Chile    Colombia Colombia 98Cote d'Ivoire
         Purchase of bad loans
         Credit line                                                                                   Y                    Y
         Assumption of bank liabilities
         Ordinary shares
         Other (please specify)
    Recap level (%)                                                                       4.00%                           10.00%
    Recap cost to government (gross) (as % of GDP)                              4.98%     2.31%      34.33%    1.87%       4.26%      small
    Recovery (Y/N)                                                                N         N           Y        N           Y         N
        Recovery proceeds (% of GDP)                                               0       0.00      27.87%       0        1.56%        0
    Recap cost to government (net) (as % of GDP)                                4.98%     2.31%       6.46%    1.87%       2.70%      small
Deposit insurance and depositor compensation
Deposit insurance(Y/N)                                                             N        Y          N         N          Y           N
    Formation                                                                              1996                            1988
    Coverage limit (in local currency) at start of crisis                         0        5000        0         0       10000000       0
    Coverage ratio (coverage limit to GDP per capita) at start of crisis          0        2.37        0         0         3.29         0
Were losses imposed on depositors? (Y/N)                                          N         N          Y         N          N           Y
     If yes, severe=1, moderate=2                                                                      2                                1
Macro Policies
Monetary policy index                                                              -1        1         -1        0           0          -1
    Average change in reserve money during years [t, t+3]) (in %)               939.63%   245.13%    9.97%    21.00%      11.97%     -6.57%

Fiscal policy index                                                                1         1         -1         1          1           1
     Average fiscal balance during years [t, t+3] (in %)                        -5.14%    -3.09%     0.81%     -3.93%     -4.28%     -12.69%
     IMF program put in place (Y/N)                                                N         Y         Y          N          N          Y
     IMF program put in place (year)                                                       1996       1983                             1985


Outcome variables
Fiscal cost net (%GDP)                                                          10.20%    13.90%     16.80%    5.00%      2.54%      25.00%
     Gross                                                                      13.20%    14.00%     42.90%    5.00%      6.28%      25.00%
     Recovery during period t to t+5, where t is the first year of the crisis    3.00%     0.10%     26.10%       0       3.74%       0.00%
Output loss
     Output loss during period t to t+3                                         0.00%     1.30%      92.35%   15.11%      33.52%      0.00%
Country name                                                                                             Dominican Republic 03
                                                                                       Croatia Czech Republic                Ecuador           Estonia


Overview
Crisis date (year and month)                                                          Mar-98         1996           Apr-03         Aug-98       Nov-92
Currency crisis (Y/N) (t-1, t+1)                                                        N             N                Y              Y             N
     Year of currency crisis                                                                         1997            2003           1999
Sovereign debt crisis (Y/N) (t-1, t+1)                                                   N            N                Y              Y             N
     Year of sovereign debt crisis                                                                                   2003           1999
Brief description of crisis                                                                                                      Starting in in early 1995 and led currency board, on
                                                                                                               In late 2002, a a central-planning early 1990s, following string ofthea
                                                                                                Following the transition from large Bank, thethesystem, Czech Republicaembarkedexo
                                                                                                                                              After establishing the liquidity problems
                                                                                     The introduction of a market-oriented legal frameworkBaninter, begins havingto significant progre


Initial conditions
                         Macro (as of the pre-crisis year)
     Fiscal balance/GDP                                                                -2.01%       -1.29%          -1.37%        -3.02%       5.25%
     Public sector Debt/GDP                                                            26.70%       12.47%          26.80%        61.75%
     Inflation                                                                          5.01%      107.86%          10.51%        30.67%
     Net Foreign Assets (Central Bank) (in US$ millions)                                2,306       13,266            -72          1,974         110
     Net Foreign Assets/M2                                                             28.67%       32.51%          -1.03%         8.35%       57.63%
     Deposits/GDP                                                                      41.42%       62.24%          34.80%        23.25%       72.33%
     GDP growth                                                                         6.80%        6.36%           4.43%         4.05%       -7.91%
     Current Account/GDP                                                              -12.61%       -0.09%          -3.69%        -3.02%

                                      Banking
Public banks and NPL's
     Peak NPLs (as % of total loans; unofficial estimate)                             10.50%        18.00%           9.00%        40.00%        7.00%
     % of banking system assets that is government-owned as of t-1 (%)                 1.04%        52.00%          15.50%         9.00%       25.70%
Significant bank runs (Y/N)                                                              Y             Y               N             Y            Y
     Largest one-month drop in deposits (in excess of 5%) during [t, t+1]              6.11%         5.67%                        11.09%       19.94%
Credit boom (Y/N)                                                                        N                            N              N
     Annual growth in private credit to GDP leading up to crisis (t-4, t-1] (in %)     7.60%                        7.70%          9.40%

                                     Institutions
     Creditor rights (0-4)                                                                3            3               2             0
Country name                                                                                Dominican Republic 03
                                                                          Croatia Czech Republic                Ecuador         Estonia

Containment phase
Deposit freeze and bank holiday
Deposit freeze (Y/N)                                                        N            N              N             Y            N
    Introduction of deposit freeze                                                                                   1999
    Duration of deposit freeze (in months)                                                                             6
    Coverage of deposit freeze (time deposits only ? Y/N)                                                             N
Bank holiday (Y/N)                                                          N            N              N             Y            N
    Introduction of bank holiday                                                                                     1999
    Duration of bank holiday (in days)                                                                                 5

Blanket guarantee
Blanket guarantee (Y/N)                                                     N           N                N             Y          N
    Date of introduction                                                              Mid-96                        Dec-98
    Date of removal                                                                   Jan-98                        Jan-02
    Duration of guarantee (in months)                                                   18                             37
    Previous explicit deposit insurance arrangement (Y / N)                 Y           Y                N             Y          N
    Administering agency                                                                                          Central
                                                                                   Czech Deposit Insurance Fund (DIF) Bank
    Coverage of guarantee                                                          Depositors, except shareholders up to CZK4m (at the 18 banks under restructuring) an
    Timeline for guarantees, deposit freezes and bank holidays
          Timing of first bank intervention                               Apr-98      Dec-95         Apr-03         Apr-98
          Timing that first loan under liquidity assistance was granted

Liquidity support
Liquidity support/emergency lending (Y/N)                                   N            N              Y             Y            Y
     Support different across banks? (Y/N)                                                              N
     Collateral required                                                                                N
     Remunerated (Y/N)                                                                                  N
           If remunerated, interest at market rates (Y/N)                                               N
     Peak support (in % of deposits)                                      1.70%       2.30%          61.60%        15.30%       31.64%
     Lowering of reserve requirements (Y/N)                                 Y           N               N             N            Y


Resolution phase
Country name                                                                                          Dominican Republic 03
                                                                                    Croatia Czech Republic                Ecuador           Estonia
Forbearance index
Forbearance(Y/N)                                                                      Y             N              Y              Y           Y
    Banks permitted to continue functioning despite being technically insolvent       N             N              N              Y           N
    Prudential regulations were suspended or not fully applied                        Y             N              Y              Y           Y

Bank restructuring index
Large-scale government intervention in banks (Y/N)                                    Y            Y               Y              Y           Y
     Institutions closed (% of assets)                                              7.06%        1.50%           0.00%         50.20%      15.00%
     Number of banks in t, where t is the first year of the crisis                    60           55              14            40          21
     Number of banks in t+3, where t is the first year of the crisis                  43           45              11            22          18
Closures
     Bank closures (Y/N)                                                               Y             Y                N            Y            Y
           Number of banks closed                                                     11              4               0            14           11
     Other FI closures (Y/N)                                                           N             N                N            Y            Y
     Shareholder protection (were shareholders made whole? Y/N)                        N             N                N            N            N
Nationalizations (Y/N)                                                                 Y             N                N            Y            Y
Mergers (Y/N)                                                                          Y             Y                N            Y            Y
     Did private shareholders/owners of banks inject fresh capital? (Y/N)              N             Y                N            N            N
Sales to foreigners (Y/N)                                                              Y             Y                Y            N            N
     Number of banks sold to foreigners                                                5              5               2             0            0
Bank restructuring agency(Y/N)                                                         Y             Y                N            Y            N
Asset management company(Y/N)                                                          Y             Y                Y            Y            Y
     Centralized (Y) / Decentralized (N)                                               Y             Y                Y            Y            N
     Entity in charge                                                                          Ceska agency)                   Deposit Insurance Agency
                                                                                  BRA (restructuringFinanckiCOPRA, unit under the Central Bank's control
     Funding                                                                                   Privatization revenues
                                                                                  Privatization receipts       Public                      B
                                                                                                                               Public bonds udget and Bank of Estonia
     Type of asset transferred                                                                                 Loans also stocks assets of Mainlybanks
                                                                                                                               all
                                                                                  Bad loans Mainly bad loans but (mostly related parties)  closed NPL's

Recapitalization index
Recapitalization (Y/N)                                                                Y             Y              N              Y           Y
    Recap measures
        Cash                                                                          Y             Y                                         Y
        Government bonds                                                              Y                                           Y           Y
        Subordinated debt
        Preferred shares
Country name                                                                                      Dominican Republic 03
                                                                                Croatia Czech Republic                Ecuador   Estonia
         Purchase of bad loans                                                                Y
         Credit line
         Assumption of bank liabilities                                                                                           Y
         Ordinary shares
         Other (please specify)
    Recap level (%)                                                                                                   9.00%
    Recap cost to government (gross) (as % of GDP)                              3.20%       0.98%                     1.90%     1.26%
    Recovery (Y/N)                                                                N           N                         Y         Y
        Recovery proceeds (% of GDP)                                               0           0                      0.30%     0.27%
    Recap cost to government (net) (as % of GDP)                                3.20%       0.98%                     1.60%     0.99%
Deposit insurance and depositor compensation
Deposit insurance(Y/N)                                                             Y         Y              N           Y         N
    Formation                                                                    1997       1994                       1998
    Coverage limit (in local currency) at start of crisis                       50000      100000           0          7416       0
    Coverage ratio (coverage limit to GDP per capita) at start of crisis          1.8       0.75            0          3.81       0
Were losses imposed on depositors? (Y/N)                                           N         N              N           Y         Y
     If yes, severe=1, moderate=2                                                                                        1        1
Macro Policies
Monetary policy index                                                             -1          -1            1           1         0
    Average change in reserve money during years [t, t+3]) (in %)               23.19%      7.99%        45.95%

Fiscal policy index                                                                1          1             1            0         0
     Average fiscal balance during years [t, t+3] (in %)                        -5.19%     -3.35%        -6.45%       -0.66%    -0.66%
     IMF program put in place (Y/N)                                                N          N             Y            Y         Y
     IMF program put in place (year)                                                                      2004         2000      1993


Outcome variables
Fiscal cost net (%GDP)                                                          6.90%       5.80%        20.80%       16.26%    1.63%
     Gross                                                                      6.90%       6.80%        22.00%       21.70%    1.90%
     Recovery during period t to t+5, where t is the first year of the crisis   0.00%       1.00%         1.20%        5.44%    0.27%
Output loss
     Output loss during period t to t+3                                         0.00%                    15.51%       6.49%
Country name                                                                            Finland         Ghana       Indonesia      Jamaica        Japan


Overview
Crisis date (year and month)                                                             Sep-91         1982         Nov-97        Dec-96        Nov-97
Currency crisis (Y/N) (t-1, t+1)                                                           Y             Y             Y             N             N
     Year of currency crisis                                                              1992          1983          1997
Sovereign debt crisis (Y/N) (t-1, t+1)                                                     N             N             N              N             N
     Year of sovereign debt crisis
Brief description of crisis                                                                                                     stronger macroeconomic of imbalances and early the
                                                                                                                                             liberalization macroeconomic lending 90'
                                                                                                                 of through aThe suffered The Japanesefundamentals than Thailand,
                                                                                     The three Nordic countries wentthe 80's Ghana financial severe structural the late 80's related to boo
                                                                                                    During mostDespite havingfinancial liberalization process that led to a environmen


Initial conditions
                         Macro (as of the pre-crisis year)
     Fiscal balance/GDP                                                                  5.56%         -0.12%        -1.13%            1.99%       -5.13%
     Public sector Debt/GDP                                                             14.04%                       26.40%           90.89%      100.48%
     Inflation                                                                           4.88%         16.79%         6.04%           25.55%        0.60%
     Net Foreign Assets (Central Bank) (in US$ millions)                                10,098            -3         25,412            478.28   150,810.34
     Net Foreign Assets/M2                                                              12.73%         -0.06%        21.58%           19.07%        1.62%
     Deposits/GDP                                                                       52.28%          6.20%        44.74%           40.73%      252.41%
     GDP growth                                                                          0.08%         -6.91%         7.82%            1.01%        2.75%
     Current Account/GDP                                                                -4.91%         -0.32%        -2.91%           -4.37%        1.42%

                                      Banking
Public banks and NPL's
     Peak NPLs (as % of total loans; unofficial estimate)                               13.00%          35.00%       32.50%        28.90%        35.00%
     % of banking system assets that is government-owned as of t-1 (%)                  13.40%          60.00%       42.30%         0.00%         0.00%
Significant bank runs (Y/N)                                                                N               Y            Y             N             N
     Largest one-month drop in deposits (in excess of 5%) during [t, t+1]                               11.74%       22.60%
Credit boom (Y/N)                                                                          N               N            N             N             N
     Annual growth in private credit to GDP leading up to crisis (t-4, t-1] (in %)       8.00%         -19.90%        4.50%        -3.10%         0.10%

                                     Institutions
     Creditor rights (0-4)                                                                  3             1             3             2              3
Country name                                                                 Finland        Ghana       Indonesia      Jamaica        Japan

Containment phase
Deposit freeze and bank holiday
Deposit freeze (Y/N)                                                            N              N            N             N             N
    Introduction of deposit freeze
    Duration of deposit freeze (in months)
    Coverage of deposit freeze (time deposits only ? Y/N)
Bank holiday (Y/N)                                                              N              N            N             N             N
    Introduction of bank holiday
    Duration of bank holiday (in days)

Blanket guarantee
Blanket guarantee (Y/N)                                                          Y              N            Y             Y              Y
    Date of introduction                                                      Feb-93                      Jan-98        Feb-97         Nov-97
    Date of removal                                                           Dec-98                       Jul-05         Mar-98       Apr-05
    Duration of guarantee (in months)                                            70                          78           11             89
    Previous explicit deposit insurance arrangement (Y / N)                      Y              N            N             N              Y
    Administering agency                                                  Government Guarantee Fund    Central Bank FINSAC         Deposit Insurance Corporation (DIC)
    Coverage of guarantee                                                                                                          All all domestic banks (excluding shareho
                                                                                                                     Depositors’ funds in licensed deposit-taking institutions
                                                                                                       All deposits and other credits ofdeposits, including interbank deposits
                                                                          All creditors except for shareholders
    Timeline for guarantees, deposit freezes and bank holidays
          Timing of first bank intervention                                   Sep-91        Jun-85       Nov-97        Dec-94        Apr-97
          Timing that first loan under liquidity assistance was granted

Liquidity support
Liquidity support/emergency lending (Y/N)                                       Y              N            Y             Y             N
     Support different across banks? (Y/N)                                      Y                                         N
     Collateral required                                                        N                                         N            N
     Remunerated (Y/N)                                                          N                                         Y            Y
           If remunerated, interest at market rates (Y/N)                       N                                         Y            Y
     Peak support (in % of deposits)                                          5.50%         0.00%        53.80%        12.40%        0.40%
     Lowering of reserve requirements (Y/N)                                     N             Y             N             N            Y


Resolution phase
Country name                                                                         Finland        Ghana      Indonesia      Jamaica        Japan
Forbearance index
Forbearance(Y/N)                                                                        Y             Y            Y             N             Y
    Banks permitted to continue functioning despite being technically insolvent         N             Y            N             N             N
    Prudential regulations were suspended or not fully applied                          Y             Y            Y             N             Y

Bank restructuring index
Large-scale government intervention in banks (Y/N)                                      Y             Y            Y             Y            Y
     Institutions closed (% of assets)                                                0.00%         0.00%       13.50%         4.15%     0.00%
     Number of banks in t, where t is the first year of the crisis                     519            11          238            36
     Number of banks in t+3, where t is the first year of the crisis                   347            11          165            20
Closures
     Bank closures (Y/N)                                                                N             N            Y             Y             N
           Number of banks closed                                                       0             0            66            1       0
     Other FI closures (Y/N)                                                            N             N            N             Y             Y
     Shareholder protection (were shareholders made whole? Y/N)                         Y                          N             N             N
Nationalizations (Y/N)                                                                  Y            N             Y             Y             Y
Mergers (Y/N)                                                                           Y            N             Y             Y             Y
     Did private shareholders/owners of banks inject fresh capital? (Y/N)               N            N                           N             Y
Sales to foreigners (Y/N)                                                                            N            Y              Y             Y
     Number of banks sold to foreigners                                                              0                           2             1
Bank restructuring agency(Y/N)                                                          Y            N            Y              Y             Y
Asset management company(Y/N)                                                           Y            Y            Y              Y             Y
     Centralized (Y) / Decentralized (N)                                                Y            Y            Y              Y             Y
     Entity in charge                                                             Arsenal LTD NPART                        FINSAC        Resolution
                                                                                                           IBRA (under the Ministry of Finance) and Collection Corporation
     Funding                                                                      Budget                                   FINSAC organizations
                                                                                                                                         Budget
                                                                                                Budget and loans from Multilateral bonds and Government Bonds
     Type of asset transferred                                                                   loans      of total loans NPL's
                                                                                                                           to (loss), andNPL's
                                                                                                                                          optionally category 4 loans (doubtful)
                                                                                  Non-performingNPL's (65%Category 5 loansnon-government sector)

Recapitalization index
Recapitalization (Y/N)                                                                  Y             Y            Y             Y             Y
    Recap measures
        Cash                                                                                                       Y
        Government bonds                                                                                           Y
        Subordinated debt                                                               Y             Y                                        Y
        Preferred shares                                                                Y                                        Y             Y
Country name                                                                    Finland   Ghana    Indonesia   Jamaica   Japan
         Purchase of bad loans                                                                                   Y         Y
         Credit line
         Assumption of bank liabilities                                                                          Y
         Ordinary shares                                                          Y                              Y
         Other (please specify)
    Recap level (%)                                                                       6.00%     4.00%
    Recap cost to government (gross) (as % of GDP)                              8.63%     6.00%    37.30%      13.90%    6.61%
    Recovery (Y/N)                                                                Y         N         N           Y        Y
        Recovery proceeds (% of GDP)                                            1.72%        0         0        4.95%    0.09%
    Recap cost to government (net) (as % of GDP)                                6.91%     6.00%    37.30%       8.95%    6.52%
Deposit insurance and depositor compensation
Deposit insurance(Y/N)                                                            Y         N         N          N         Y
    Formation                                                                    1969                                     1971
    Coverage limit (in local currency) at start of crisis                        Full       0         0          0        Full
    Coverage ratio (coverage limit to GDP per capita) at start of crisis                    0         0          0
Were losses imposed on depositors? (Y/N)                                          N         N         N          N         N
     If yes, severe=1, moderate=2
Macro Policies
Monetary policy index                                                             -1         0        1           0         0
    Average change in reserve money during years [t, t+3]) (in %)               1.75%     46.93%   47.66%      19.35%    8.88%

Fiscal policy index                                                                1         -1        1          1         1
     Average fiscal balance during years [t, t+3] (in %)                        -5.07%    -0.04%    -2.47%     -5.71%    -6.17%
     IMF program put in place (Y/N)                                                N         N         Y          N         N
     IMF program put in place (year)                                                                 1998


Outcome variables
Fiscal cost net (%GDP)                                                          11.08%    6.00%    52.30%      38.95%    13.91%
     Gross                                                                      12.80%    6.00%    56.80%      43.90%    14.00%
     Recovery during period t to t+5, where t is the first year of the crisis    1.72%       0      4.60%       4.95%     0.09%
Output loss
     Output loss during period t to t+3                                         59.08%    15.79%   67.95%      30.08%    17.56%
Country name                                                                              Korea          Latvia     Lithuania    Malaysia     Mexico     Nicaragua


Overview
Crisis date (year and month)                                                             Aug-97          Apr-95      Dec-95       Jul-97      Dec-94      Aug-00
Currency crisis (Y/N) (t-1, t+1)                                                           Y               N           N            Y           Y           N
     Year of currency crisis                                                              1997                                     1997        1994
Sovereign debt crisis (Y/N) (t-1, t+1)                                                     N                N           N           N           N             N
     Year of sovereign debt crisis                                                                                 In April
Brief description of crisis                                                                                                     The persistent banking sector were bank hadannual of
                                                                                                      Until end-1994 problems in the subsequent ofmid-1980's Mexico in Nicaragua,
                                                                                     The devaluation of the Thai baht in July 1997, the Latvianpace regional contagion, and the crashrate
                                                                                                                   1994                                  The expansion at an carried ou
                                                                                                                                            Since the credit largest confined to insolve


Initial conditions
                         Macro (as of the pre-crisis year)
     Fiscal balance/GDP                                                                        0.24%      -3.86%       -4.22%     1.98%    -2.46%           -3.30%
     Public sector Debt/GDP                                                                    8.80%      14.89%        8.00%    35.16%    27.34%          191.31%
     Inflation                                                                                 4.93%      26.27%       45.10%     3.34%     8.01%            9.28%
     Net Foreign Assets (Central Bank) (in US$ millions)                                    32,991.02      462.63       431.73 27,964.16 20,801.87           216.00
     Net Foreign Assets/M2                                                                    15.62%      36.32%       39.63%    23.20%    18.12%          -14.10%
     Deposits/GDP                                                                             36.55%      21.15%       17.43% 119.51%      26.82%           37.02%
     GDP growth                                                                                7.00%       2.20%       -9.77%    10.00%     1.95%            7.00%
     Current Account/GDP                                                                      -4.14%      -3.61%       -3.86%    -4.36%    -5.80%          -24.90%

                                      Banking
Public banks and NPL's
     Peak NPLs (as % of total loans; unofficial estimate)                                35.00%          20.00%      32.20%      30.00%       18.90%      12.70%
     % of banking system assets that is government-owned as of t-1 (%)                   23.41%           9.90%      48.00%       9.93%       28.16%       0.00%
Significant bank runs (Y/N)                                                                 Y               Y           Y           Y            Y           N
     Largest one-month drop in deposits (in excess of 5%) during [t, t+1]                12.00%           5.81%       6.26%       6.03%       14.00%
Credit boom (Y/N)                                                                           N                                       N            Y
     Annual growth in private credit to GDP leading up to crisis (t-4, t-1] (in %)        1.10%                                   7.10%       22.50%

                                     Institutions
     Creditor rights (0-4)                                                                   3              3           1            3           0           4
Country name                                                                   Korea           Latvia     Lithuania    Malaysia     Mexico      Nicaragua

Containment phase
Deposit freeze and bank holiday
Deposit freeze (Y/N)                                                              N              N            N            N            N           N
    Introduction of deposit freeze
    Duration of deposit freeze (in months)
    Coverage of deposit freeze (time deposits only ? Y/N)
Bank holiday (Y/N)                                                                N              N            N            N            N           N
    Introduction of bank holiday
    Duration of bank holiday (in days)

Blanket guarantee
Blanket guarantee (Y/N)                                                          Y               N            N           Y            Y              Y
    Date of introduction                                                       Nov-97                                   Jan-98        Dec-93 Jan-01
    Date of removal                                                            Dec-00                                   Aug-05       Jan-03        Jul-02
    Duration of guarantee (in months)                                            37                                       91          109            14
    Previous explicit deposit insurance arrangement (Y / N)                      Y                 N          N           N            Y              N
    Administering agency                                                                                                           FOBAPROA
    Coverage of guarantee                                                                                                          All commercial banks,finance companies
                                                                                                                                               All deposit securities compani
                                                                                                                      Deposits only ofbank debt) ofbanks, liabilities except for
                                                                          All liabilities (excluding shareholders’ capital and subordinated liabilities, including inter-bank dep
    Timeline for guarantees, deposit freezes and bank holidays
          Timing of first bank intervention                                    Oct-97         May-95       Dec-95        None         Nov-94     Aug-00
          Timing that first loan under liquidity assistance was granted                                                                          Aug-00

Liquidity support
Liquidity support/emergency lending (Y/N)                                         Y              N            N            Y            Y           Y
     Support different across banks? (Y/N)                                                                    N                                     N
     Collateral required                                                                                                                            N
     Remunerated (Y/N)                                                                                                                              Y
           If remunerated, interest at market rates (Y/N)                                                                                           Y
     Peak support (in % of deposits)                                           28.90%          3.01%        4.60%       12.20%      67.60%        9.60%
     Lowering of reserve requirements (Y/N)                                       N              Y            Y            N           N            N


Resolution phase
Country name                                                                           Korea        Latvia    Lithuania   Malaysia     Mexico     Nicaragua
Forbearance index
Forbearance(Y/N)                                                                         Y             N         Y            Y           Y           N
    Banks permitted to continue functioning despite being technically insolvent          Y             N         Y            N           N
    Prudential regulations were suspended or not fully applied                           N             N         Y            Y           Y

Bank restructuring index
Large-scale government intervention in banks (Y/N)                                       Y             Y         Y           Y           Y           Y
     Institutions closed (% of assets)                                                 9.00%        40.00%    15.00%       0.00%       0.00%       0.00%
     Number of banks in t, where t is the first year of the crisis                       59           56        28           47           52         12
     Number of banks in t+3, where t is the first year of the crisis                     31           42        14           43           37          6
Closures
     Bank closures (Y/N)                                                                Y              Y         Y            N           N           N
           Number of banks closed                                                       22             14        14           0           0           0
     Other FI closures (Y/N)                                                            Y                                     N           N           Y
     Shareholder protection (were shareholders made whole? Y/N)                         N                        N            N
Nationalizations (Y/N)                                                                  Y              N         Y            Y           Y           N
Mergers (Y/N)                                                                           Y              N         N            Y           Y           N
     Did private shareholders/owners of banks inject fresh capital? (Y/N)               Y                                                 Y
Sales to foreigners (Y/N)                                                               Y              N         N           N            Y             N
     Number of banks sold to foreigners                                                  8              0         0          0            4             0
Bank restructuring agency(Y/N)                                                          Y              N          0          Y            Y             N
Asset management company(Y/N)                                                           Y              N         Y           Y            N             Y
     Centralized (Y) / Decentralized (N)                                                Y                        Y           Y                          N
     Entity in charge                                                             KAMCO and KDIC                        Danaharta was in charged resolving
                                                                                                                                                 Central liquidated bank Aura B
                                                                                                             Turto Bankas (created out of the shell of the Bank NPL's while Dan
     Funding                                                                      Bonds                      Budget                                injection from the budget (Dan
                                                                                                                        Bonds, loans, and equityPublic
     Type of asset transferred                                                    Non-performing loans                  NPL's in excess of 10% of total loans with face value of
                                                                                                             Non-performing loans                Non-performing loans

Recapitalization index
Recapitalization (Y/N)                                                                   Y             N         Y            Y           Y           N
    Recap measures
        Cash                                                                             Y                       Y
        Government bonds                                                                 Y                       Y
        Subordinated debt                                                                Y                                    Y           Y
        Preferred shares                                                                 Y
Country name                                                                     Korea     Latvia   Lithuania   Malaysia   Mexico   Nicaragua
         Purchase of bad loans                                                                                     Y         Y
         Credit line
         Assumption of bank liabilities
         Ordinary shares
         Other (please specify)
    Recap level (%)                                                                                              9.00%     9.00%
    Recap cost to government (gross) (as % of GDP)                              19.31%               1.70%      16.40%     3.80%
    Recovery (Y/N)                                                                 Y                   Y           Y         Y
        Recovery proceeds (% of GDP)                                             3.50%               0.20%      11.30%     1.30%
    Recap cost to government (net) (as % of GDP)                                15.81%               1.50%       5.10%     2.50%
Deposit insurance and depositor compensation
Deposit insurance(Y/N)                                                             Y         N         N           N         Y         N
    Formation                                                                     1996                                      1986
    Coverage limit (in local currency) at start of crisis                       20000000     0         0           0        Full       0
    Coverage ratio (coverage limit to GDP per capita) at start of crisis          2.18       0         0           0                   0
Were losses imposed on depositors? (Y/N)                                           N         Y         Y           N         N         N
     If yes, severe=1, moderate=2                                                            1         2
Macro Policies
Monetary policy index                                                              -1        0         0           -1         1         0
    Average change in reserve money during years [t, t+3]) (in %)                4.05%                          -2.78%     22.03%    17.63%

Fiscal policy index                                                                 1         0         1          0          1         1
     Average fiscal balance during years [t, t+3] (in %)                         -1.66%    -1.36%    -5.05%     -1.28%     -4.77%    -3.80%
     IMF program put in place (Y/N)                                                 Y         Y         N          N          Y         N
     IMF program put in place (year)                                              1998      1993                            1995


Outcome variables
Fiscal cost net (%GDP)                                                          23.20%     3.00%     2.90%       5.10%     18.00%    12.57%
     Gross                                                                      31.20%     3.00%     3.10%      16.40%     19.30%    13.61%
     Recovery during period t to t+5, where t is the first year of the crisis    8.00%     0.00%     0.20%      11.30%      1.30%     1.04%
Output loss
     Output loss during period t to t+3                                         50.10%                          50.04%     4.25%     0.00%
Country name                                                                          Norway      Paraguay Philippines     Russia     Sri Lanka    Sweden


Overview
Crisis date (year and month)                                                           Oct-91     May-95       Jul-97      Aug-98        1989       Sep-91
Currency crisis (Y/N) (t-1, t+1)                                                         N          N            Y             Y           N           Y
     Year of currency crisis                                                                                    1997         1998                    1992
Sovereign debt crisis (Y/N) (t-1, t+1)                                                   N            N          N             Y           Y           N
     Year of sovereign debt crisis                                                                                           1998        1990
Brief description of crisis                                                                                   of mid-1997 the peso had appreciated April 1998,theFinlandthe 80’sof R
                                                                                                                         Initially, from led to a to in the 25 of real of andeffectiv
                                                                                                                                       Economic performance at the Central Bank wa
                                                                                                                                                  was boom (with by rates       contr
                                                                                                 During most Bythe 80’s the Paraguayanmid-1997 Asby overcasepercent financialcredit
                                                                                     Financial deregulation undertaken during 1984-1987economycreditcharacterizedend in realofNorwa


Initial conditions
                         Macro (as of the pre-crisis year)
     Fiscal balance/GDP                                                                  2.54%       2.73%       -0.18%    -16.96%      -8.59%        3.39%
     Public sector Debt/GDP                                                             28.92%      15.80%                  52.49%     108.72%
     Inflation                                                                           4.36%      18.31%       7.14%      11.05%      15.10%      10.94%
     Net Foreign Assets (Central Bank) (in US$ millions)                               7,573.86      961.17    8,850.47    7,315.45      109.93    5,505.35
     Net Foreign Assets/M2                                                              10.34%      38.86%      19.03%       9.47%       5.80%       4.79%
     Deposits/GDP                                                                       54.44%      27.68%      48.61%      14.59%      22.01%      40.62%
     GDP growth                                                                          1.93%       3.73%       5.85%       1.40%       2.30%       1.01%
     Current Account/GDP                                                                 2.50%      -2.02%      -0.18%       0.00%      -0.23%      -2.57%

                                      Banking
Public banks and NPL's
     Peak NPLs (as % of total loans; unofficial estimate)                             16.36%        8.10%      20.00%      40.00%     35.00%       13.00%
     % of banking system assets that is government-owned as of t-1 (%)                43.68%       48.02%      27.23%      32.98%     71.39%       23.20%
Significant bank runs (Y/N)                                                              N            Y           N           Y          Y            Y
     Largest one-month drop in deposits (in excess of 5%) during [t, t+1]                           7.68%                    21%       7.51%        5.56%
Credit boom (Y/N)                                                                        N            Y           Y           N          N
     Annual growth in private credit to GDP leading up to crisis (t-4, t-1] (in %)     2.90%       17.60%      17.70%       9.50%      1.60%

                                     Institutions
     Creditor rights (0-4)                                                                2           1           1           1           2           2
Country name                                                              Norway       Paraguay Philippines      Russia    Sri Lanka    Sweden

Containment phase
Deposit freeze and bank holiday
Deposit freeze (Y/N)                                                         N             N           N           N           N           N
    Introduction of deposit freeze
    Duration of deposit freeze (in months)
    Coverage of deposit freeze (time deposits only ? Y/N)
Bank holiday (Y/N)                                                           N             N           N           N           N           N
    Introduction of bank holiday
    Duration of bank holiday (in days)

Blanket guarantee
Blanket guarantee (Y/N)                                                      N            N            N           N           N          Y
    Date of introduction                                                                Jul-95                                         Sep-92
    Date of removal                                                                     Jun-96                                         Jul-96
    Duration of guarantee (in months)                                                     11                                             46
    Previous explicit deposit insurance arrangement (Y / N)                  Y            N           Y           N          Y            N
    Administering agency                                                                         Philippine Deposit Insurance Corporation
    Coverage of guarantee                                                                                                           All liabilities, except for shareholder
                                                                                      The announcement was that the government will back all deposits, but no explicit brea
    Timeline for guarantees, deposit freezes and bank holidays
          Timing of first bank intervention                               Fall 1988     May-95                               None        Sep-91
          Timing that first loan under liquidity assistance was granted                             Sep-97      Sep-98

Liquidity support
Liquidity support/emergency lending (Y/N)                                    Y             Y           N           Y           N           Y
     Support different across banks? (Y/N)                                   Y             N                       Y
     Collateral required                                                                                           Y                       N
     Remunerated (Y/N)                                                                                             Y
           If remunerated, interest at market rates (Y/N)                                                          N
     Peak support (in % of deposits)                                       6.20%        20.80%       2.50%      31.50%       3.10%       9.40%
     Lowering of reserve requirements (Y/N)                                  N             Y           N           Y           N


Resolution phase
Country name                                                                      Norway   Paraguay Philippines     Russia   Sri Lanka    Sweden
Forbearance index
Forbearance(Y/N)                                                                    Y         Y          N            Y          Y           N
    Banks permitted to continue functioning despite being technically insolvent     N         N          N            Y          Y           N
    Prudential regulations were suspended or not fully applied                      Y         Y          N            Y          Y           N

Bank restructuring index
Large-scale government intervention in banks (Y/N)                                  Y         Y           N           Y          Y          Y
     Institutions closed (% of assets)                                            1.00%    23.00%      1.00%        4.00%      0.00%      0.00%
     Number of banks in t, where t is the first year of the crisis                 164       34         1003         1476                  118
     Number of banks in t+3, where t is the first year of the crisis               153       22          925         1318        23        103
Closures
     Bank closures (Y/N)                                                            Y         Y         Y             Y          N           N
           Number of banks closed                                                   2         9         26           399         0           0
     Other FI closures (Y/N)                                                        N         Y                                  Y
     Shareholder protection (were shareholders made whole? Y/N)                     N         N                       N                      Y
Nationalizations (Y/N)                                                              Y         N          N            Y           N          Y
Mergers (Y/N)                                                                       Y         N          N            Y           N          Y
     Did private shareholders/owners of banks inject fresh capital? (Y/N)           Y                                 Y           N
Sales to foreigners (Y/N)                                                                     Y          N            N           N
     Number of banks sold to foreigners                                                                  0             0          0
Bank restructuring agency(Y/N)                                                      Y         N          N            Y           N          Y
Asset management company(Y/N)                                                       N         N          N            Y           N          Y
     Centralized (Y) / Decentralized (N)                                                                              Y                      Y
     Entity in charge                                                                                             ARKO                   Securum AB for Nordbanken, Retriv
     Funding                                                                                                                             Budget
                                                                                                                  Central Bank and Central Governmen Securities
     Type of asset transferred                                                                                    Non-performing loans Non-performing loans

Recapitalization index
Recapitalization (Y/N)                                                              Y         Y          N            N          Y           Y
    Recap measures
        Cash
        Government bonds                                                                                                         Y
        Subordinated debt                                                           Y
        Preferred shares                                                            Y
Country name                                                                    Norway   Paraguay Philippines   Russia   Sri Lanka   Sweden
         Purchase of bad loans                                                              Y
         Credit line
         Assumption of bank liabilities
         Ordinary shares                                                          Y                                                    Y
         Other (please specify)
    Recap level (%)                                                             8.00%                                     8.00%
    Recap cost to government (gross) (as % of GDP)                              2.61%     1.22%      0.20%                3.60%      1.85%
    Recovery (Y/N)                                                                Y         N          N                    N          Y
        Recovery proceeds (% of GDP)                                            2.00%     0.00%         0                    0       0.36%
    Recap cost to government (net) (as % of GDP)                                0.61%     1.22%      0.20%                3.60%      1.49%
Deposit insurance and depositor compensation
Deposit insurance(Y/N)                                                            Y         N          Y          N         Y          N
    Formation                                                                    1961                 1963                 1987
    Coverage limit (in local currency) at start of crisis                        Full       0        10000        0       100000       0
    Coverage ratio (coverage limit to GDP per capita) at start of crisis                    0         3.22        0        7.18        0
Were losses imposed on depositors? (Y/N)                                          N         N          N          Y         N          N
     If yes, severe=1, moderate=2                                                                                 2
Macro Policies
Monetary policy index                                                              0        -1         -1          1        0           1
    Average change in reserve money during years [t, t+3]) (in %)               5.57%    24.13%      7.03%      47.21%   15.39%      21.63%

Fiscal policy index                                                                0        -1         1           0         1          1
     Average fiscal balance during years [t, t+3] (in %)                        -0.65%   -0.02%     -2.75%      -1.32%    -7.67%     -7.33%
     IMF program put in place (Y/N)                                                N        N          Y           Y         N          N
     IMF program put in place (year)                                                                 1998        1999


Outcome variables
Fiscal cost net (%GDP)                                                          0.60%    10.00%     13.20%      6.00%     5.00%      0.20%
     Gross                                                                      2.70%    12.90%     13.20%      6.00%     5.00%      3.60%
     Recovery during period t to t+5, where t is the first year of the crisis   2.10%     2.90%        0           0       0%        3.40%
Output loss
     Output loss during period t to t+3                                         0.00%     0.00%      0.00%      0.00%     2.20%      30.60%
Country name                                                                          Thailand     Turkey                         United States Uruguay
                                                                                                              UkraineUnited Kingdom


Overview
Crisis date (year and month)                                                           Jul-97      Nov-00       1998      Aug-07       Aug-07       Jan-02
Currency crisis (Y/N) (t-1, t+1)                                                         Y           Y           Y          N            N            Y
     Year of currency crisis                                                            1997        2001        1998                                 2002
Sovereign debt crisis (Y/N) (t-1, t+1)                                                   N           N           N           N            N           N
     Year of sovereign debt crisis
Brief description of crisis                                                                                               important regime, Thailand had Rock,US decade of mortga
                                                                                                                                      During the Northern were highly dollarized and
                                                                                                             Vulnerabilities September banks hadDeposits2007,the transition process
                                                                                                  Turkey had accumulatedOn in Ukranian14, 2007,course ofenjoyedaamid-sized UK mo
                                                                                                                                                  their roots in  subprime 90's,
                                                                                     Under the framework of a pegged exchange rate macroeconomic imbalances throughout therobustin


Initial conditions
                         Macro (as of the pre-crisis year)
     Fiscal balance/GDP                                                                  2.40% -14.97%           -5.56%     -2.56%      -2.61%       -0.22%
     Public sector Debt/GDP                                                             14.15%    51.31%        29.88%      43.04%      60.10%       39.05%
     Inflation                                                                           4.77%    68.79%        10.12%       2.78%       2.57%        3.59%
     Net Foreign Assets (Central Bank) (in US$ millions)                              38,603.70 13,470.72       -111.22   41,223.05   68,622.82     2,723.69
     Net Foreign Assets/M2                                                              25.13%    17.84%         -1.68%      1.40%       0.98%       27.15%
     Deposits/GDP                                                                       76.91%    37.28%          6.81%    139.66%      72.01%       75.00%
     GDP growth                                                                          5.90%    -3.37%         -2.99%      2.91%       2.87%       -3.38%
     Current Account/GDP                                                                -7.89%    -0.55%         -2.66%     -3.62%      -6.15%       -2.87%

                                      Banking
Public banks and NPL's
     Peak NPLs (as % of total loans; unofficial estimate)                              33.00%      27.60%     62.40%                   4.80%       36.30%
     % of banking system assets that is government-owned as of t-1 (%)                 17.09%      35.00%     12.23%       0.00%       0.00%       40.90%
Significant bank runs (Y/N)                                                               N           N          N           N           N            Y
     Largest one-month drop in deposits (in excess of 5%) during [t, t+1]                                                                           9.12%
Credit boom (Y/N)                                                                         Y          N           Y           N           N            Y
     Annual growth in private credit to GDP leading up to crisis (t-4, t-1] (in %)     10.60%      6.10%      15.00%       6.06%       5.22%       13.10%

                                     Institutions
     Creditor rights (0-4)                                                                3           2          3           4            1           2
Country name                                                               Thailand      Turkey                          United States Uruguay
                                                                                                     UkraineUnited Kingdom

Containment phase
Deposit freeze and bank holiday
Deposit freeze (Y/N)                                                           N           N            N           N            N            Y
    Introduction of deposit freeze                                                                                                           2002
    Duration of deposit freeze (in months)                                                                                                    36
    Coverage of deposit freeze (time deposits only ? Y/N)                                                                                     Y
Bank holiday (Y/N)                                                             N           N            N           N            N            Y
    Introduction of bank holiday                                                                                                             2002
    Duration of bank holiday (in days)                                                                                                         5

Blanket guarantee
Blanket guarantee (Y/N)                                                        Y             Y             N           N           N             N
    Date of introduction                                                    Aug-97        Dec-00                    Sep-07
    Date of removal                                                          Jan-05       Jul-04
    Duration of guarantee (in months)                                          89            43
    Previous explicit deposit insurance arrangement (Y / N)                    N             Y             Y           Y           Y             Y
    Administering agency                                                               SDIF (savings deposit Fund (FIDF), an
                                                                          Financial Institutions Development insurance fund) entity within the central bank
    Coverage of guarantee                                                 Deposits, contingent and foreign liabilities (excluding shareholders’ capital and subordinated debt)
                                                                                       All liabilities (including contingent) of domestically incorporated banks except for ow
    Timeline for guarantees, deposit freezes and bank holidays
          Timing of first bank intervention                                 Mar-97      Nov-97        1995        Sep-07       Mar-08       Feb-02
          Timing that first loan under liquidity assistance was granted

Liquidity support
Liquidity support/emergency lending (Y/N)                                      Y           Y            Y           N            N            Y
     Support different across banks? (Y/N)                                                              Y           N            N            Y
     Collateral required                                                                                            Y            Y            Y
     Remunerated (Y/N)                                                                                              Y            Y            Y
           If remunerated, interest at market rates (Y/N)                                                           Y            Y            Y
     Peak support (in % of deposits)                                        25.90%      22.16%       16.30%                    2.06%       31.00%
     Lowering of reserve requirements (Y/N)                                    N           N            N           N            N            N


Resolution phase
Country name                                                                       Thailand      Turkey                          United States Uruguay
                                                                                                             UkraineUnited Kingdom
Forbearance index
Forbearance(Y/N)                                                                       Y           N            Y           N            N            N
    Banks permitted to continue functioning despite being technically insolvent        N           N            Y                                     N
    Prudential regulations were suspended or not fully applied                         Y           N            Y                                     N

Bank restructuring index
Large-scale government intervention in banks (Y/N)                                    Y            Y           Y            N            N            Y
     Institutions closed (% of assets)                                              2.00%        8.00%       2.00%        0.00%        0.00%       18.83%
     Number of banks in t, where t is the first year of the crisis                    41           80         230                                    31
     Number of banks in t+3, where t is the first year of the crisis                  40           54         178                                    21
Closures
     Bank closures (Y/N)                                                               Y            Y           Y            N            N            Y
           Number of banks closed                                                      1           12           48                                     5
     Other FI closures (Y/N)                                                           Y            N                        N            Y            N
     Shareholder protection (were shareholders made whole? Y/N)                                     N                        N            N            N
Nationalizations (Y/N)                                                                 Y            Y           N            Y            N            Y
Mergers (Y/N)                                                                          Y            Y           N            N            Y            N
     Did private shareholders/owners of banks inject fresh capital? (Y/N)              Y            Y                                     Y
Sales to foreigners (Y/N)                                                              Y            Y           N            N            N            Y
     Number of banks sold to foreigners                                                3            2            0           0            0            2
Bank restructuring agency(Y/N)                                                         Y            N           Y            N            N            N
Asset management company(Y/N)                                                          Y            Y           N            N            Y            Y
     Centralized (Y) / Decentralized (N)                                               Y            Y                                     N            Y
     Entity in charge                                                                          Collection and restructuring unit under SDIF
                                                                                  AMC created by the government                     Fed           Thesis Uruguay
     Funding                                                                      budget       SDIF borrowed from Treasury                        Private shareholders, fees from reco
     Type of asset transferred                                                                 NPL's of SDIF-owned banks
                                                                                  Assets of finance companies                                     Loans
                                                                                                                                    Illiquid securities in categories 4 and 5

Recapitalization index
Recapitalization (Y/N)                                                                 Y           Y            N           Y            Y            Y
    Recap measures
        Cash                                                                                                                                          Y
        Government bonds                                                               Y           Y
        Subordinated debt                                                                                                                             Y
        Preferred shares                                                                                                    Y
Country name                                                                    Thailand   Turkey                        United States Uruguay
                                                                                                     UkraineUnited Kingdom
         Purchase of bad loans
         Credit line
         Assumption of bank liabilities                                                                           Y
         Ordinary shares
         Other (please specify)
    Recap level (%)                                                              8.50%      8.00%
    Recap cost to government (gross) (as % of GDP)                              18.80%     24.50%               0.20%                  6.18%
    Recovery (Y/N)                                                                            Y                                          Y
        Recovery proceeds (% of GDP)                                                        1.30%                                      1.16%
    Recap cost to government (net) (as % of GDP)                                18.80%     23.20%               0.20%                  5.02%
Deposit insurance and depositor compensation
Deposit insurance(Y/N)                                                             N         Y         Y           Y         Y           Y
    Formation                                                                               1983      1998       2001       1933       2002
    Coverage limit (in local currency) at start of crisis                          0        Full      1200      35000      100000     100000
    Coverage ratio (coverage limit to GDP per capita) at start of crisis           0                  0.59        1.9       2.26        1.4
Were losses imposed on depositors? (Y/N)                                           Y         N         Y           N         N           N
     If yes, severe=1, moderate=2                                                  2                    1
Macro Policies
Monetary policy index                                                              0         -1        -1                                -1
    Average change in reserve money during years [t, t+3]) (in %)               12.95%     33.99%    33.26%                           17.37%

Fiscal policy index                                                                1           1        1                                -1
     Average fiscal balance during years [t, t+3] (in %)                        -2.51%     -10.55%   -2.00%                            0.04%
     IMF program put in place (Y/N)                                                Y          Y         Y         N           N          Y
     IMF program put in place (year)                                             1998        2000     1995                              1996


Outcome variables
Fiscal cost net (%GDP)                                                          34.80%     30.70%    0.00%                            10.83%
     Gross                                                                      43.80%     32.00%    0.00%                            20.00%
     Recovery during period t to t+5, where t is the first year of the crisis    9.00%      1.30%     0%                               9.17%
Output loss
     Output loss during period t to t+3                                         97.66%     5.35%     0.00%                            28.79%
Country name                                                                         Venezuela    Vietnam


Overview
Crisis date (year and month)                                                           Jan-94     fall 1997
Currency crisis (Y/N) (t-1, t+1)                                                         Y            N
     Year of currency crisis                                                            1994
Sovereign debt crisis (Y/N) (t-1, t+1)                                                   N           N
     Year of sovereign debt crisis
Brief description of crisis                                                                      Signs of stress in the banking sector were growing poor 1996. Overdue loans had offi
                                                                                     During the 80's the Venezuelan economy was characterized by since economic performance, with r


Initial conditions
                         Macro (as of the pre-crisis year)
     Fiscal balance/GDP                                                                 -2.92%      -2.36%
     Public sector Debt/GDP
     Inflation                                                                          45.94%       4.59%
     Net Foreign Assets (Central Bank) (in US$ millions)                               7,818.28    1,259.32
     Net Foreign Assets/M2                                                              55.29%      24.66%
     Deposits/GDP                                                                       24.47%       8.33%
     GDP growth                                                                          0.28%       9.34%
     Current Account/GDP                                                                -3.33%      -9.86%

                                      Banking
Public banks and NPL's
     Peak NPLs (as % of total loans; unofficial estimate)                             24.00%      35.00%
     % of banking system assets that is government-owned as of t-1 (%)                 9.80%      92.00%
Significant bank runs (Y/N)                                                              Y           N
     Largest one-month drop in deposits (in excess of 5%) during [t, t+1]             14.06%
Credit boom (Y/N)                                                                        N
     Annual growth in private credit to GDP leading up to crisis (t-4, t-1] (in %)     0.50%

                                     Institutions
     Creditor rights (0-4)                                                                3          1
Country name                                                              Venezuela   Vietnam

Containment phase
Deposit freeze and bank holiday
Deposit freeze (Y/N)                                                         N           N
    Introduction of deposit freeze
    Duration of deposit freeze (in months)
    Coverage of deposit freeze (time deposits only ? Y/N)
Bank holiday (Y/N)                                                           N           N
    Introduction of bank holiday
    Duration of bank holiday (in days)

Blanket guarantee
Blanket guarantee (Y/N)                                                      N           N
    Date of introduction
    Date of removal
    Duration of guarantee (in months)
    Previous explicit deposit insurance arrangement (Y / N)                  Y           N
    Administering agency                                                  FOGADE
    Coverage of guarantee
    Timeline for guarantees, deposit freezes and bank holidays
          Timing of first bank intervention                                Jan-94     Fall 1998
          Timing that first loan under liquidity assistance was granted

Liquidity support
Liquidity support/emergency lending (Y/N)                                    Y           N
     Support different across banks? (Y/N)
     Collateral required
     Remunerated (Y/N)
           If remunerated, interest at market rates (Y/N)
     Peak support (in % of deposits)                                       31.20%      5.20%
     Lowering of reserve requirements (Y/N)                                   Y          Y


Resolution phase
Country name                                                                      Venezuela    Vietnam
Forbearance index
Forbearance(Y/N)                                                                     Y            Y
    Banks permitted to continue functioning despite being technically insolvent      N            Y
    Prudential regulations were suspended or not fully applied                       Y            Y

Bank restructuring index
Large-scale government intervention in banks (Y/N)                                    Y           Y
     Institutions closed (% of assets)                                             23.00%       2.00%
     Number of banks in t, where t is the first year of the crisis                   51           83
     Number of banks in t+3, where t is the first year of the crisis                 39
Closures
     Bank closures (Y/N)                                                             Y            Y
           Number of banks closed                                                    12           5
     Other FI closures (Y/N)                                                         Y
     Shareholder protection (were shareholders made whole? Y/N)                      N            N
Nationalizations (Y/N)                                                               Y            N
Mergers (Y/N)                                                                        N            Y
     Did private shareholders/owners of banks inject fresh capital? (Y/N)
Sales to foreigners (Y/N)                                                            Y
     Number of banks sold to foreigners                                              5
Bank restructuring agency(Y/N)                                                       Y            N
Asset management company(Y/N)                                                        N            Y
     Centralized (Y) / Decentralized (N)                                                          Y
     Entity in charge
     Funding                                                                                  Government bonds
     Type of asset transferred                                                                Non-performing loans

Recapitalization index
Recapitalization (Y/N)                                                               Y            Y
    Recap measures
        Cash                                                                                      Y
        Government bonds                                                             Y            Y
        Subordinated debt
        Preferred shares
Country name                                                                    Venezuela   Vietnam
         Purchase of bad loans
         Credit line
         Assumption of bank liabilities
         Ordinary shares
         Other (please specify)
    Recap level (%)                                                                          10%
    Recap cost to government (gross) (as % of GDP)                               5.59%      5.00%
    Recovery (Y/N)                                                                 N          N
        Recovery proceeds (% of GDP)                                             0.00%      0.00%
    Recap cost to government (net) (as % of GDP)                                 5.59%      5.00%
Deposit insurance and depositor compensation
Deposit insurance(Y/N)                                                             Y          N
    Formation                                                                     1985
    Coverage limit (in local currency) at start of crisis                        250000       0
    Coverage ratio (coverage limit to GDP per capita) at start of crisis          0.96        0
Were losses imposed on depositors? (Y/N)                                           Y          N
     If yes, severe=1, moderate=2                                                   2
Macro Policies
Monetary policy index                                                               1          1
    Average change in reserve money during years [t, t+3]) (in %)                79.32%     24.17%

Fiscal policy index                                                                 1          1
     Average fiscal balance during years [t, t+3] (in %)                         -1.64%     -2.74%
     IMF program put in place (Y/N)                                                 Y          N
     IMF program put in place (year)                                              1996


Outcome variables
Fiscal cost net (%GDP)                                                           12.50%     10.00%
     Gross                                                                       15.00%     10.00%
     Recovery during period t to t+5, where t is the first year of the crisis     2.50%      0.00%
Output loss
     Output loss during period t to t+3                                          9.62%      19.72%

				
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