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Accounting --- Financial statements --- Off balance sheet financing --- Standards

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The COVID-19 crisis, which has sent economies in South Asia and around the world into a deep recession, has highlighted South Asia's rising debt levels and sizable hidden liabilities. State-owned enterprises, state-owned commercial banks, and public-private partnerships have been at the center of the rising debt wave and the latest pandemic response. Historically,South Asia has relied on these direct public interventions more than other regions. The interventions have helped governments tackle key development challenges and rapidly deliver relief measures during crises. However, because of their inefficiencies and weak governance, the interventions are also a significant source of public indebtedness and macrofinancial risks. Hidden Debt examines the trade-off between tackling development challenges through direct state presence in the market and avoiding unsustainable debt due to economic inefficiencies of such off-balance sheet operations, which greatly leverage public capital. The study recommends a reform agenda based on the four interrelated principles of purpose, incentives, transparency, and accountability (PITA). The reforms can mitigate the risks that off-balance sheet operations will become the source of the next financial crisis in South Asia.

Financial crises --- Government business enterprises --- Off balance sheet financing. --- Risk --- Prevention. --- Finance.

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Off balance sheet financing --- Accounting. --- United States. --- United States. --- Accounting --- Auditing. --- Rules and practice --- Evaluation.

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"There is still no consensus on who or what caused the financial crisis which engulfed the world, beginning in the summer of 2007. A huge number of suspects have been identified, from greedy investment bankers, through feckless borrowers, dilatory regulators and myopic central bankers to violent video games and high levels of testosterone among the denizens of trading floors. There is not even agreement on whether the crisis shows a need for more government intervention in markets, or less: some maintain that government encouragement of home ownership lay at the heart of the problem in the US, in particular. In The Financial Crisis Howard Davies charts a course through these arguments, and the evidence advanced for each of them. The reader can thereby assess the weight to be attached to each, and the likely effectiveness of the remedies under development."- -Description viewed from website on 21 Sept. 2010.

Global Financial Crisis, 2008-2009. --- Subprime mortgage loans --- Bank failures --- Banking law --- Off balance sheet financing --- Intervention (Federal government) --- Credit ratings

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This paper presents a new database on the timing of systemic banking crises and policy responses to resolve them. The database covers the universe of systemic banking crises for the period 1970-2007, with detailed data on crisis containment and resolution policies for 42 crisis episodes, and also includes data on the timing of currency crises and sovereign debt crises. The database extends and builds on the Caprio, Klingebiel, Laeven, and Noguera (2005) banking crisis database, and is the most complete and detailed database on banking crises to date.

Financial crises. --- Bank failures. --- Liquidity (Economics) --- Capital movements. --- Off balance sheet financing. --- Credit. --- Capital flight --- Capital flows --- Capital inflow --- Capital outflow --- Flight of capital --- Flow of capital --- Movements of capital --- Borrowing --- Assets, Frozen --- Frozen assets --- Failure of banks --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Business enterprises --- Balance of payments --- Foreign exchange --- International finance --- Finance --- Money --- Loans --- Business failures --- Crises --- Banks and Banking --- Financial Risk Management --- Industries: Financial Services --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Financial Crises --- Banking --- Economic & financial crises & disasters --- Financial crises --- Commercial banks --- Banking crises --- Nonperforming loans --- Banks and banking --- United States