Brendan Keenan has an interesting article on NAMA in today’s Irish Independent: you can read it here.
Keenan on NAMA
- Post author By Philip Lane
- Post date August 6, 2009
- Categories In Banking Crisis
- Tags NAMA
- 19 Comments on Keenan on NAMA
Author: Philip Lane
Patrick Honohan recommends an amendment to allow for a two-part pricing schedule in today’s Irish Times: you can read it here.
The US debate on how to tackle its high public debt has expanded to take in some non-orthodox solutions:
U.S. Government Stages Fake Coup To Wipe Out National Debt
In this guest post, David O’Connor and Odran Reid make the case to use NAMA as an opportunity for better spatial planning: you can read it here.
The BIS has released a new comparative study of the impact of the different types of financial sector rescue programmes pursued across countries: you can read it here.
Abstract:
We analyse the wide array of rescue programmes adopted in several countries, following Lehman Brothers’ default in September 2008, in order to support banks and other financial institutions. We first provide an overview of the programmes, comparing their characteristics, magnitudes and participation rates across countries. We then consider the effects of the programmes on banks’ risk and valuation, looking at the behaviour of CDS premia and stock prices. We then proceed to analyse the issuance of government guaranteed bonds by banks, examining their impact on banks’ funding and highlighting undesired effects and distortions. Finally, we briefly review the recent evolution of bank lending to the private sector. We draw policy implications, in particular as regards the way of mitigating the distortions implied by such programmes and the need for an exit strategy.