WEBINAR title: COVID-19 Crisis and Possible Challenges to the Recovery and Resolution Regimes in ASEAN
Banks came into the coronavirus pandemic much stronger than they went into the global financial crisis (GFC). The risk of mass loan defaults continues to mount as COVID-19 shuts down large segments of the economy – not just because of factors such as supply chain disruption but simply because of the effects of social-distancing restrictions. Companies experiencing severe drops in revenue may struggle to repay loans. Households may struggle to pay off credit cards and make mortgage payments.
A key aspect of the post-GFC global regulatory reforms has been development of an entirely new approach to Recovery and Resolution Planning (RRP). Countries across the region are at different stages of adopting global measures to create recovery and resolution plans, and in some cases, largely focused on the introduction of recovery plans. This session will focus on COVID-19 Crisis and Possible challenges to the Recovery and Resolution Regimes in ASEAN.