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Conference on the construction of a new crisis management framework in the banking sector: extracts from the keynote address by Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF)

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Addressing on 19/03/2010 in Brussels the conference on the construction of a new crisis management framework in the banking sector organised by the European Commission, Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF) said that a European resolution authority should be set up, with the mandate to deal with all banks running large-scale cross-border operations. "I do not sense the same momentum in the area of crisis management and resolution," said Strauss-Kahn. "The existing arrangements have proven to be inadequate, making both national and cross-border bank failures difficult to handle effectively and more costly than they need to be."
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Type: EbS   Reference: 68805   Date: 19/03/2010   Duration: 00:02:20
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