Tuesday, June 12, 2012

Hamlet without the Prince, the King, the Queen, the Lord Chamberlain, the courtiers etc

From IMF review of Spain's bank resolution and crisis management framework --

While the overall legal and policy framework for providing emergency liquidity assistance (ELA) is broadly sound and reflects good practices, some features could be further specified. These include stricter definition and interpretation of a “solvent bank”, “systemic importance,” and “temporary liquidity support.”