Resolution for Banking

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Resolution for Banking Powered By Docstoc
					Data file to accompany the IMF Working Paper "Resolution of Banking Crises

by Luc Laeven and Fabian Valencia (June 2010)
Banking Crises: The Good, the Bad, and the Ugly"
g Crises: The Good, the Bad, and the Ugly"
Country                           Start         End        Output loss       Country                    Start       End           Output loss     Country         Start        End            Output loss      Country                 Start      End           Outpus loss
Albania                           1994          1994                         Congo, Rep                 1992        1994                 47%      Kazakhstan 3/   2008         …                     0%        Romania                 1990       1992                  0%
Algeria                           1990          1994              41%        Costa Rica                 1987        1991                  0%      Kenya           1985         1985                 24%        Russia                  1998       1998
Argentina                         1980          1982              58%        Costa Rica                 1994        1995                  0%      Kenya           1992         1994                 50%        Russia 3/               2008       …                     0%
Argentina                         1989          1991              13%        Croatia                    1998        1999                          Korea           1997         1998                 58%        São Tomé & Príncipe     1992       1992                  2%
Argentina 3/                      1995          1995               0%        Czech Republic 3/          1996        2000                          Kuwait          1982         1985                143%        Senegal                 1988       1991                  6%
Argentina                         2001          2003              71%        Denmark                    2008        …                    36%      Kyrgyz Rep      1995         1999                            Sierra Leone            1990       1994                 34%
Armenia                           1994          1994                         Djibouti                   1991        1995                 43%      Latvia 4/       1995         1996                            Slovak Rep              1998       2002                  0%
Austria                           2008          …                 17%        Dominican Rep              2003        2004                          Latvia          2008         …                   116%        Slovenia                1992       1992
Azerbaijan                        1995          1995                         Ecuador                    1982        1986                 98%      Lebanon         1990         1993                102%        Slovenia 3/             2008       …                    37%
Bangladesh                        1987          1987               0%        Ecuador                    1998        2002                 25%      Liberia         1991         1995                            Spain                   1977       1981                 59%
Belarus                           1995          1995                         Egypt                      1980        1980                  1%      Lithuania       1995         1996                            Spain 3/                2008       …                    39%
Belgium                           2008          …                 23%        El Salvador                1989        1990                  0%      Luxembourg      2008         …                    47%        Sri Lanka               1989       1991                 20%
Benin                             1988          1992              15%        Equatorial Guinea          1983        1983                  0%      Macedonia, FYR  1993         1995                  0%        Swaziland               1995       1999                 46%
Bolivia                           1986          1986              49%        Eritrea                    1993        1993                          Madagascar      1988         1988                  0%        Sweden                  1991       1995                 33%
Bolivia                           1994          1994               0%        Estonia                    1992        1994                          Malaysia        1997         1999                 31%        Sweden 3/               2008       …                    31%
Bosnia and Herzegovina            1992          1996                         Finland                    1991        1995                 70%      Mali            1987         1991                  0%        Switzerland 3/          2008       …                     0%
Brazil 3/                         1990          1994              62%        France 3/                  2008        …                    21%      Mauritania      1984         1984                  8%        Tanzania                1987       1988                  0%
Brazil                            1994          1998               0%        Georgia                    1991        1995                          Mexico          1981         1985                 27%        Thailand                1983       1983                 25%
Bulgaria                          1996          1997              60%        Germany                    2008        …                    19%      Mexico          1994         1996                 14%        Thailand                1997       2000                109%
Burkina Faso                      1990          1994                         Ghana                      1982        1983                 45%      Mongolia        2008         …                     0%        Togo                    1993       1994                 39%
Burundi                           1994          1998             121%        Greece 3/                  2008        …                    29%      Morocco         1980         1984                 22%        Tunisia                 1991       1991                  1%
Cameroon                          1987          1991             106%        Guinea                     1985        1985                  0%      Mozambique      1987         1991                  0%        Turkey                  1982       1984                 35%
Cameroon                          1995          1997               8%        Guinea                     1993        1993                  0%      Nepal           1988         1988                  0%        Turkey                  2000       2001                 37%
Cape Verde                        1993          1993               0%        Guinea-Bissau              1995        1998                 30%      Netherlands     2008         …                    25%        Uganda                  1994       1994                  0%
Central African Rep               1976          1976               0%        Guyana                     1993        1993                  0%      Nicaragua       1990         1993                 11%        Ukraine                 1998       1999                  0%
Central African Rep               1995          1996               9%        Haiti                      1994        1998                 38%      Nicaragua       2000         2001                  0%        Ukraine                 2008       …                     5%
Chad                              1983          1983               0%        Hungary                    1991        1995                  0%      Niger           1983         1985                 97%        United Kingdom          2007       …                    24%
Chad                              1992          1996               0%        Hungary 3/                 2008        …                    42%      Nigeria         1991         1995                  0%        United States 3/        1988       1988                  0%
Chile                             1976          1976              20%        Iceland                    2008        …                    42%      Norway          1991         1993                  5%        United States           2007       …                    25%
Chile                             1981          1985               9%        India                      1993        1993                  0%      Panama          1988         1989                 85%        Uruguay                 1981       1985                 38%
China, Mainland                   1998          1998              19%        Indonesia                  1997        2001                 69%      Paraguay        1995         1995                 15%        Uruguay                 2002       2005                 27%
Colombia                          1982          1982              47%        Ireland                    2008        …                   110%      Peru            1983         1983                 55%        Venezuela               1994       1998                  1%
Colombia                          1998          2000              43%        Israel                     1977        1977                 76%      Philippines     1983         1986                 92%        Vietnam                 1997       1997                  0%
Congo, Dem Rep                    1983          1983               1%        Jamaica                    1996        1998                 38%      Philippines 3/  1997         2001                  0%        Yemen                   1996       1996                 16%
Congo, Dem Rep                    1991          1994             130%        Japan                      1997        2001                 45%      Poland          1992         1994                  0%        Zambia                  1995       1998                 31%
Congo, Dem Rep                    1994          1998              79%        Jordan                     1989        1991                106%      Portugal 3/     2008         …                    37%        Zimbabwe                1995       1999                 10%
Notes: 3/ denotes borderline systemic banking crisis cases. For countries with missing credit data, end dates are based on GDP growth only. We truncate the duration of crises at 5 years, starting with the first crisis year.
Output losses computed as the cumulative difference between actual and trend real GDP, expressed as a percentage of trend real GDP for the period *T, T+3+ where T is the starting year of the crisis. Trend real GDP is computed by applying an HP filter (λ=100) to the GDP
series over [T-20, T-1]. No output losses are reported for crises in transition economies that took place during the period of transition to market economies.
Source: WEO, Laeven and Valencia (2008), and authors’ calculation
                                                  Emergency Liquidity support
Country                                           (% of deposits and liabilities to non-residents)
Austria                                                                                               8.2
Belgium                                                                                              14.0
Denmark                                                                                              10.5
Germany                                                                                               2.8
Iceland                                                                                               2.4
Ireland                                                                                              13.3
Latvia                                                                                                3.3
Luxembourg                                                                                            4.3
Mongolia                                                                                              9.4
Netherlands                                                                                           3.3
Ukraine                                                                                              14.6
UK                                                                                                    5.5
USA                                                                                                   4.6
France                                                                                                6.4
Greece                                                                                               18.3
Hungary                                                                                               1.3
Kazakhstan                                                                                            4.6
Portugal                                                                                              5.5
Russia                                                                                               22.2
Slovenia                                                                                              9.3
Spain                                                                                                 4.1
Sweden                                                                                               13.1
Switzerland                                                                                           2.8
Median across old crises: all countries                                                              10.6
Median across old crises: high income countries                                                       1.6
Liquidity Support from Treasury
(% of deposits and liabilities to non-residents)
                                                   1.0

                                                   0.2




                                                   1.9


                                                   2.6




                                                   1.4
                                                   3.0
                                                   2.1

                                                   0.4
                                                   4.6
                      Monetary expansion
Country               (% of GDP)
Austria                                  5.6%
Belgium                                  5.6%
Denmark                                  1.3%
Germany                                  5.6%
Iceland                                  0.1%
Ireland                                  5.6%
Latvia                                   0.0%
Luxembourg                               5.6%
Mongolia                                 0.2%
Netherlands                              5.6%
Ukraine                                  1.7%
UK                                       9.4%
USA                                      7.6%
France                                   5.6%
Greece                                   5.6%
Hungary                                 -1.2%
Kazakhstan                              -2.3%
Portugal                                 5.6%
Russia                                  -0.5%
Slovenia                                 5.6%
Spain                                    5.6%
Sweden                                   6.4%
Switzerland                            12.0%
Median across old crises: all countries 1.3%
                                         2.8%
Median across old crises: high income countries
Country                                    Total assets of failed          Total end 2008)
                  Total assets of banks (mln US$, end 2008) banks (mln US$,assets of banks receiving assistance (mln US$)
Austria                           978,670                               42                                   465,770
Belgium                         1,595,446                       858,722.20                                443,323.35
China                           6,209,338                          107,049                                 1,026,300
Denmark                         1,670,204                            9,462                                   596,998
France                         10,928,305                          794,806                                 7,689,054
Germany                         8,451,338                          577,838                                 2,444,903
Greece                            576,534                                0                                   463,206
Iceland                           210,559                          195,871                                          0
Ireland                           988,085                          144,920                                   565,670
Italy                           3,703,131                                0                                 1,479,675
Japan                          13,880,754                                0                                   148,683
Kazakhstan                         89,650                           24,360                                    35,319
Korea, Rep. of                  1,112,887                                0                                   303,502
Kuwait                            174,642                                0                                    16,541
Latvia                             29,063                            5,054                                          0
Luxembourg                        579,978                          103,114                                          0
Netherlands                     3,614,969                          564,522                                 1,562,786
Portugal                          412,420                            9,840                                   135,851
Spain                           4,571,148                           34,715                                          0
Sweden                          1,124,355                            1,255                                   184,200
Switzerland                     3,413,127                                0                                   822,458
Ukraine                            87,608                                0                                    13,397
United Kingdom                 14,551,924                        3,665,619                                   592,826
United States                  19,849,983                        1,283,943                                 3,479,698
Source: Total banking system assets computed at end 2008 using Bankscope data. Data on bank failures and interventions from IMF, EU, F
                                      Government-assisted banks, fraction of total banking assets (%)
            Failed banks, fraction of total banking assets (%)                Failed and assisted banks, fraction of total banking assets (%)
                                0.0%                                   47.6%                                   47.6%
                               53.8%                                   27.8%                                   81.6%
                                1.7%                                   16.5%                                   18.3%
                                0.6%                                   35.7%                                   36.3%
                                7.3%                                   70.4%                                   77.6%
                                6.8%                                   28.9%                                   35.8%
                                0.0%                                   80.3%                                   80.3%
                               93.0%                                    0.0%                                   93.0%
                               14.7%                                   57.2%                                   71.9%
                                0.0%                                   40.0%                                   40.0%
                                0.0%                                    1.1%                                    1.1%
                               27.2%                                   39.4%                                   66.6%
                                0.0%                                   27.3%                                   27.3%
                                0.0%                                    9.5%                                    9.5%
                               17.4%                                    0.0%                                   17.4%
                               17.8%                                    0.0%                                   17.8%
                               15.6%                                   43.2%                                   58.8%
                                2.4%                                   32.9%                                   35.3%
                                0.8%                                    0.0%                                    0.8%
                                0.1%                                   16.4%                                   16.5%
                                0.0%                                   24.1%                                   24.1%
                                0.0%                                   15.3%                                   15.3%
                               25.2%                                    4.1%                                   29.3%
                                6.5%                                   17.5%                                   24.0%
interventions from IMF, EU, FDIC, and JIDC.
                                                  Fiscal cost
Country                                           (% of GDP)
Austria                                                      4.1%
Belgium                                                      5.0%
Denmark                                                      3.1%
Germany                                                      1.4%
Iceland                                                     13.1%
Ireland                                                      7.6%
Latvia                                                       2.5%
Luxembourg                                                   7.7%
Mongolia                                                     3.0%
Netherlands                                                 12.7%
Ukraine                                                      4.8%
UK                                                           8.7%
USA                                                          4.9%
France                                                       1.0%
Greece                                                       3.6%
Hungary                                                      0.1%
Kazakhstan                                                   3.8%
Portugal                                                     0.0%
Russia                                                       2.3%
Slovenia                                                     2.8%
Spain                                                        1.8%
Sweden                                                       0.7%
Switzerland                                                  1.1%
Median across old crises: all countries                     10.0%
Median across old crises: high income countries              3.7%
                                                  Increase in Public Debt
Country                                           (% of GDP)
Austria                                                                14.8%
Belgium                                                                23.2%
Denmark                                                                33.7%
Germany                                                                13.3%
Iceland                                                                82.9%
Ireland                                                                52.1%
Latvia                                                                 52.0%
Luxembourg                                                             18.5%
Mongolia                                                                 0.7%
Netherlands                                                            28.7%
Ukraine                                                                23.9%
UK                                                                     27.0%
USA                                                                    23.1%
France                                                                 20.2%
Greece                                                                 30.3%
Hungary                                                                  4.0%
Kazakhstan                                                               9.7%
Portugal                                                               25.4%
Russia                                                                   1.0%
Slovenia                                                               13.4%
Spain                                                                  37.9%
Sweden                                                                 17.2%
Switzerland                                                             -1.0%
Median across old crises: all countries                                15.2%
Median across old crises: high income countries                        36.2%

				
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