Les Bad Banks sont-elles une bonne idée ?

STOCKHOLM – La notion de bad bank (mauvaise banque) semble gagner en popularité de jour en jour dans les pays où les actifs toxiques ont paralysé le système de crédit. L’assainissement de la banque suédoise au début des années 1990 est souvent évoqué comme exemple du succès d’une telle idée. Mais les leçons dérivées de l’expérience suédoise se fondent parfois sur des incompréhensions de ce que nous avons réellement fait, et sur la manière sont a fonctionné notre système.

La décision de mettre en place une bad bank en Suède n’a pas été prise par des politiciens mais par la direction de Nordbanken. Après des années de mauvaise gestion et de prêts irresponsables, la banque a été la première victime du déclin du marché des propriétés commerciales en 1990.

Nordbanken a été complètement nationalisée, et une nouvelle direction a été mise en place pour remettre la banque sur le chemin de la viabilité. Il s’est rapidement avéré que les managers n’avaient que peu de temps à consacrer à l’activité bancaire première de Nordbanken, car il leur fallait se concentrer de façon disproportionnée sur la gestion d’une énorme variété d’actifs. Et chaque trimestre apportait son lot de nouvelles pertes, qui détruisaient les efforts de réhabilitation de la réputation de la banque ainsi que le moral de ses employés.

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