Introducing asset securitization to Indonesia: a method in madness
Article Abstract:
The 1998 Indonesian economic climate contains some features which support introducing securitization of assets, but legal and judicial uncertainties present problems for successful implementation. The Indonesian economy is marked by fund shortages, desire for high yields on investments, and securities firms looking for new opportunities. These elements also existed in the US when securitization of assets was successfully implemented in the 1970s. However, Indonesia has not yet developed adequate bankruptcy laws or developed guidelines for how the judiciary will judge investment managers who breach fiduciary duties.
Publication Name: University of Pennsylvania Journal of International Economic Law
Subject: Law
ISSN: 1086-7872
Year: 1998
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Allowing Japanese banks to engage in securitization: potential benefits, regulatory obstacles, and theories for reform
Article Abstract:
Banking and securities laws in Japan should be reformed to allow for the development of a domestic asset-backed securities market similar to the one that is thriving in the US. The US market has provided banks with the opportunity to improve profitability, lower lending costs and manage risk. While some bureaucratic reforms may be needed in Japan, the most effective reform would be to allow securitization by Japanese banks. Controls could remain to ensure that banks do not dominate industry, but allowing an asset-backed security market to develop would help Japanese banks recover from bad debts.
Publication Name: University of Pennsylvania Journal of International Economic Law
Subject: Law
ISSN: 1086-7872
Year: 1996
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Banking deregulation in Indonesia: an updated perspective in light of the Asian financial crisis
Article Abstract:
Most Indonesian banks became insolvent in the wake of the Asian financial crisis and required large-scale government intervention to prevent collapse of the nation's banking system. The vulnerability of Indonesian banks can be attributed to loss of funding, risky loan practices, low capitalizaion, and lack of governmental supervision. Even though the government was able to prevent a system-wide collapse of the banking system, its actions are unlikely to cure the system's fundamental problems.
Publication Name: University of Pennsylvania Journal of International Economic Law
Subject: Law
ISSN: 1086-7872
Year: 1999
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