坏账银行是好主意吗?

斯德哥尔摩——“坏账银行”的主意似乎在因有毒资产陷入信贷瘫痪的国家一天一天变得时髦起来。20世纪90年代初瑞典银行的清理工作就经常被当作例子,夸耀这个主意有多么成功。可是从瑞典经验中总结出来的教训有时却是基于对我们真正的所作所为、以及我们系统运作方式的错误理解。

计划要在瑞典成立“坏账银行”的不是政治家,而是Nordbanken的管理层。在数年的管理不善和不顾一切的借贷之后,这家银行终于成了20世纪90年代商业地产市场下跌首当其冲的牺牲品。

Nordbanken经历了完全国有化,任命了新的管理班子,目的是要让这家银行重新焕发出生机。但人们很快就发现经理们几乎没有时间管理Nordbanken的核心银行业务,因为处理五花八门的各式资产耗费了他们绝大部分精力。每个季度都有新的资产被减记,这严重破坏了重塑银行信誉及其员工士气的努力。

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