"Resolution of this, our most distressed institution, is essential to the promotion of confidence and stability in our financial system," the Irish finance minister, Brian Lenihan, said Wednesday.
The statutory bail-in power is intended to achieve a prompt recapitalization and restructuring of the distressed institution.
Less than a year ago both gave high ratings to 11 of the largest distressed financial institutions.
All of which shows how little has changed with regard to the resolution of distressed financial institutions in the United States, despite the passage of Dodd-Frank.
These views led Congress, as part of the Dodd-Frank Wall Street Reform Act of 2010, to restrict the Fed's authority to lend to distressed financial institutions.
(NDTV) Borrowers at distressed microfinance institutions are likely to see their loans restructured, Mint reports, under a state program that seeks to save an industry that seems to be on the brink of collapse.
Cerberus, named after the three-headed dog of Greek mythology that guards the gates to Hades, has completed deals with a number of distressed financial institutions, but has little advertising experience.
If governments had raised taxes or slashed spending in the face of the slump, if they had refused to rescue distressed financial institutions, we could all too easily have seen a full replay of the Great Depression.
A month later, the Federal Reserve, which had already introduced a series of emergency lending programs for distressed financial institutions and reduced the short-term interest rate to near zero, announced that it would purchase up to a trillion dollars' worth of Treasury bonds and mortgage securities — a move designed to bring down long-term interest rates, particularly for mortgages.
