By Richard P. Roulier
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Extra info for Bank Governance Contracts: Establishing Goals and Accountability in Bank Restructuring (World Bank Discussion Papers ; 308)
The concessions made in these paragraphs are essentially the "consideration" that the Bank receives for entering into this binding contract. All concessions should be aimed NOT at providing the Bank with new resources (for example to make new loans) but rather towards stabilizing its financial position and minimizing the ultimate loss which will be incurred by the State as guarantor of deposits or as guardian of the safety and soundness of the financial system. ) 19. Liquidity Support provided by the Central Bank.
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Truly transforming these "cash-dispensers" into viable commercial enterprises capable of independently assessing risk and allocating credit based on market criteria has been an elusive goal. This goal often conflicts directly with short-term political imperatives. It is difficult to equip a bank with "credit analysis" skills. It is more difficult to transform the attitudes of bank managers. The most difficult task in bank restructuring, however, is to help policy-makers recognize that economic development is fostered by creating a system in which banks act independently (based on their own credit assessments) and impose financial discipline on enterprises.
Bank Governance Contracts: Establishing Goals and Accountability in Bank Restructuring (World Bank Discussion Papers ; 308) by Richard P. Roulier