Since the Asian Financial Crisis of the late 1990s, bank failures have been a relatively uncommon feature of the financial sector landscape in the SEACEN stakeholder space. And Asian banking sectors, so far, seem to have weathered the COVID-19 storm quite well. But the horizon for the remainder of 2021 and on into 2022 is clouded with uncertainty about the future trajectory of the pandemic, the responses of governments, firms and households to this trajectory, and the intrinsic (as opposed to reported) asset quality of banks. Accordingly, jurisdictions are focusing intensively on their recovery and resolution regimes. To find out how ready SEACEN stakeholder jurisdictions are to carry out bail-in, in the event of costly or widespread bank failures, The SEACEN Centre undertook a survey of its stakeholders in 2020. The purpose of this blog post is to report the findings of this survey.
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