IMF-对银行业的特殊公共偿付能力支持：陷阱和良好实践（英）

Exceptional Public Solvency Support to the Banking Sector: Pitfalls and Good PracticesConstant Verkoren and Luis Cortavarría-CheckleyTNM/2025/10N O T E S & M A N U A L SN O T E S & M A N U A L STECHNICALTECHNICALTECHNICAL NOTES AND MANUALSExceptional Public Solvency Support to the Banking Sector: Pitfalls and Good PracticesConstant Verkoren and Luis Cortavarría-CheckleyAuthorized for distribution by Tobias AdrianBanking sector distress can be highly disruptive, with substantial implications for financial inter-mediation and economic growth. Given their disruptive effects, country authorities have often relied on public funds to safeguard financial stability when confronted with systemic crises. The global financial crisis, for example, prompted governments to provide substantial support to ailing banks, as other credible policy options for stabilizing their financial systems were not readily available. While noting that such interventions should always remain a ‘last resort’ option, this technical note provides guidance on the proper design and implementation of exceptional public solvency support. Specifically, it discusses: ythe role of solvency support in crisis management and bank restructuring programs; yminimum conditions and key modalities for exceptional public solvency support; and ygovernance and shareholder management arrangements for temporary government investments in the financial sector.© 2025 International Monetary FundCover Design: IMF Creative SolutionsCataloging-in-Publication DataIMF LibraryNames: Verkoren, Constant, author. | Cortavarría-Checkley, Luis, author. | International Monetary Fund, publisher. Title: Exceptional public solvency support to the banking sector : pitfalls and good practices / Constant Verkoren and Luis Cortavarría-Checkley.Other titles: Pitfalls and good practice. | International Monetary Fund. | Monetary and Capital Markets Department (Series).Description: Washington, DC : International Monetary Fund, 2025. | Aug. 2025. | Includes bibliographical references.Identifiers: ISBN: 9798229002400 (paper) 9798229003179 (ePub) 9798229002882 (web PDF)Subjects: LCSH: Finance, Public. | Bank failures—Law and legislation.Classification: HJ192.5.V4 2025DISCLAIMER:This Technical Note should not be reported as representing the views of the IMF. The viewsexpressed in this paper are those of the authors and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.Recommended citation:Verkoren, Constant, and Luis Cortavarría-Checkley. 2025. “Exceptional Public Solvency Support to the Banking Sector: Pitfalls and Good Practice.” IMF Technical Notes and Manuals 2025/10. International Monetary Fund, Washington, DC.Please send orders to:International Monetary Fund, Publication ServicesPO Box 92780, Washington, DC 20090, USATel: (202) 623–7430 | Fax: (202) 623–7201publications@IMF.orgeLibrary.IMF.orgbookstore.IMF.orgContentsAbbreviations . . . . . . . . . . . . . . . . . . . . . . . .