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Optimising Distressed Loan Books: Practical solutions for dealing with non-performing loans by John Michael Sheehan

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8. Lessons From Previous Crises

The traditional response to crisis

It is nearly 200 years since the US experienced its first financial crisis. Since then, crises have become increasingly common as global trade has spread. In more recent times hardly a year has gone by without a financial crisis of some kind occurring somewhere in the world. In the past 100 years, many crises have been associated with some kind of banking panic, leading to a breakdown in the credit system. This is generally followed by a huge increase in distressed loans, which banks historically would work out in-house.

Traditionally, institutions preferred to internalise problems as best they could, within the prevailing regulatory and reporting requirements. In more ...

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