Twin Peaks Revisited - Centre for Competition Law and Policy
Twin Peaks Revisited - Centre for Competition Law and Policy
Twin Peaks Revisited - Centre for Competition Law and Policy
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New lessons from the crisis<br />
� Importance of good crisis management arrangements:<br />
� Ensure coordination between provider of liquidity<br />
support (central bank) <strong>and</strong> supervisory agency<br />
� Role of Finance Ministry (Treasury) as provider of<br />
“capital of last resort”<br />
� Need to deal with the “Too Big to Fail” problem.<br />
Some large firms operate without effective market<br />
discipline because the spillover effects of bankruptcy<br />
are too great.
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