Exact(7)
Fata was clean for about six months but, surrounded by people with easy access to prescriptions painkillers, his resolve failed.
In that respect, the recent bank "stress tests" amount to mere window-dressing because, unlike the Fed/FDIC regulatory framework, the ECB is only empowered to supervise financial institutions, not to resolve failed banks.
Last year, European officials laid out an important proposal for a banking union that would resolve failed institutions; provide strong, central supervision of banks; and give depositors a solid guarantee that their money was safe.
The white paper his working group put out in May on how to resolve failed banks, which the Public Citizen report didn't mention, doesn't take sides in either direction, he says.
Next are the powers to "resolve" failed banks, which is a polite term for deciding who takes a hit; these powers also require a pot of money (or at least a promise to pay) to clean up the mess left by bust lenders and to inject capital into those that can get back on their feet.
The main problem – and there are others – with this claim is that OLA allows the Federal Deposit Insurance Corporation FDICC) to resolve failed financial firms only after the government certifies that there are no private funding alternatives.
Similar(53)
According to Tunstall-Pedoe (2003, p. 127), in the case of MONICA, some centres failed to meet the deadlines for data while others discovered major problems with their data which have not been resolved, failed to obtain continuous funding for their local activities or simply lost contact, failing to reply to repeated communications.
The F.D.I.C. expects the cost of resolving failed banks to grow to about $100 billion in the next four years.
However, the act's preferred regime for resolving failed financial conglomerates is the U.S. Bankruptcy Code (where Lehman was resolved) and not OLA.
Resolution Trust argued that it was granted broad rule-making authority by Congress in its mission to maximize the returns and minimize the losses in resolving failed units.
Nonetheless, he said, the two economies were "not completely insulated from a disruption" in capital flows, and the failure of Europe to work out clear procedures for resolving failed cross-border banks added to the danger.
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