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India's economic survey recommended creating a public sector asset rehabilitation agency in 2017, which is when the concept of establishing a bad bank in India was first proposed. The significance of the idea increased as a result of the rising issue of non-performing assets. The financial catastrophe experienced during the COVID-19 epidemic, which was essentially a bad bank idea developed by the USA in the late 1980s, becomes an essential component. It was anticipated that the bad bank would assist conventional banks by acquiring their hazardous assets, typically for less than the book value of the loans, and handling them to eventually recoup the lost funds.

Purpose: This paper presents a brief overview of bad banks, how they work, impact NPAs, a view on how bad banks can help to remove the stressed asset, the necessity for implementing bad banks, and a few key positive and negative opinions on basis of SWOT analysis or point of view on the establishment of bad banks. Methodology: The data has been collected from a variety of sources, including newspapers, research papers, websites, and journals. The information has been analyzed and synthesized to provide a comprehensive overview of the topic. Findings: A bad bank is a financial institution specializing in managing assets that are likely to default and is characteristic of troubled loans. The bank aims to separate risky assets from traditional banks so that they can be dealt with separately, either sold or restructured. High NPA’s suggest that banks’ funds are locked and the bank does not have enough money to lend. Originality: A bad bank is a financial institution that holds non-performing assets (NPAs) of another bank or financial institution. The purpose of a bad bank is to remove these NPAs from the original institution’s balance sheet so it can focus on its core operations. A bad bank is also sometimes known as an "NPA resolutions bank." Type of Paper: Conceptual Paper.

V času pred krizo je veliko bank dajalo kredite podjetjem brez visokih garancij. Ker so se ta podjetja kasneje razvijala in rastla, so lahko zlahka odplačevala dolgove. Tako je rast posojil strmo naraščala, banke so med seboj tekmovale, katera bo podjetjem odobrila več posojil. Ko pa je leta 2008 prišlo do gospodarske krize, se je začelo pri poslovanju bank pojavljati veliko tveganj, vezanih na kredite in slaba posojila, in s tem tudi težave z likvidnostjo, kar je posledično ogrožalo obstoj bank. Povečala se je potreba po ustanovitvi tako imenovanih slabih bank. V delu diplomskega projekta je natančneje opisan pomen in delovanje slabe banke v splošnem pomenu, saj je za nadaljnjo obravnavo potrebna osnovna razlaga slabe banke. V sklopu slabih bank, ki so potrebne za normalno poslovanje bank v državi, smo opisali edino slovensko slabo banko, Družba za upravljanje terjatev – DUTB, in pa štiri nemške slabe banke: Erste Abwickelungsanstalt, Bankaktiengesellschaft (BAG), Bankgesellschaft Berlin in FMS Wertmanagement, ter jih predstavili. V zadnjem delu diplomskega projekta smo na podlagi predstavitve vseh bank izbrali nemško slabo banko FMS Wertmanagement ter jo uporabili za primerjavo s slovensko banko DUTB. Kriteriji, ki smo jih pri tem uporabili, so: leto ustanovitve, kdo so ustanovitelji, diskont prenosa terjatev, pričakovana življenjska doba in struktura. Primerjalna analiza slovenske in nemške slabe banke je tudi vsebinski namen te naloge. In the pre – crisis period, many banks provided loans to companies without high guarantees. As this companies developed and rised, it could easily repay its depts. The growth of loans increased sharply, so the banks were competing with each other, which would lend more loans to companies. When the economic crisis hit in 2008 , the banks started to experience a lot of risks related to loans and bad loans and with that also problems with liquidity, the need to create so-called bad banks has increased. Our graduation project describes specifically the meaning and functioning of a bad bank in general sense, since further explanation requires a basic explanation of a bad bank. As part of the bad banks which are needed for the normal operation of banks in the country, we described the only Slovenian bad bank Company for receivables management – DUTB and four German bad banks: Erste Abwickelungsanstalt, Bankaktiengesellschaft (BAG), Bankgesellschaft Berling and FMS Wertmanagement. In the last part of our graduation project, we selected the German bad bank FMS Wertmanagement on the basis of the presentation of all banks and used it for comparison with the Slovenian DUTB. The criteria we used were: the year of establishment, who were the founders, the discount of the transfer of receivables, life expectancy and structure. The comparative analysis of the Slovenian and German bad bank is also substantive purpose of this task.

Globalna finančna kriza je leta 2008 zamajala temelje svetovnega bančnega sektorja in gospodarstva nasploh. Zaradi zloma finančnega trga so propadle številne finančne institucije, ki so sodile med največje tovrstne institucije na svetu. Takoj ob nastopu krize so se začeli iskati vzroki in odgovorne osebe. Svetovna kriza se je začela v ZDA, nato se je razširila po vsem svetu, tudi v Slovenijo. Predmetno delo skuša predstaviti celovito analizo bančne krize in iskati vzroke zanjo, pri tem pa ponuditi konkretne odgovore o odgovornosti za bančno krizo. Naloga natančneje obravnava kazensko, odškodninsko in politično odgovornost in zanjo ponudi tudi primere iz prakse v Sloveniji. Poleg tega naloga obravnava t. i. »slabo banko« in Banko Slovenije ter skuša predstaviti njuno vlogo pri nastanku in sanaciji bančne krize. In 2008, global financial crisis rocked the foundations of the global banking sector and economy in general. Due to the financial market breakdown, numerous financial institutions, which were considered the largest global institutions of this kind, failed. Immediately after occurrence of the crisis, reasons and responsible persons began to be searched for. The global crisis began in the USA and was then spread practically all over the world, Slovenia included. The thesis tries to present a comprehensive analysis of the banking crisis and looks for reasons for its occurrence, while offering actual answers regarding the responsibility for the banking crisis itself. The thesis deals with criminal, damage, and political responsibility and also offers practical examples from Slovenia. Further, the thesis also deals with “bad bank” and Bank of Slovenia, and tries to present their role in emergence and rehabilitation of the banking crisis.

La crisis internacional provocada en 2007, resultado de la globalización financiera, el descontrol y engaños a los mercados, provocó que las economías menos estables cayeran en una importante depresión. Por ello, la confianza en los mercados se redujo al mínimo, los créditos cesaron y las personas bajaron las tasas de consumo. Definitivamente, la crisis más profunda de la historia, con grandes repercusiones en todos los sectores. Por ello, se tomaron medidas, entre las que destaca, lo que nos atañe, la creación de la Sociedad de Gestión de Activos Procedentes de la Reestructuración Bancaria (SAREB), también denominado Banco Malo (Bad Bank), ya que se encargó de adquirir todo los Activos financieros tóxicos y los Activos Inmobiliarios procedentes de las hipotecas impagadas. Con un Plan de Desinversión a lo largo de 15 años, desde 2012 que nace hasta 2027 que se prevé la desinversión total The Financial Crisis of 2007, provoke as result as financial globalization, free credits and uncontrollable stock-market, caused the less stable economies to fall into a major depression. Therefore, confidence in the markets was reduced to a mínimum, credits ceased and people lowered their consumption rates. Definitely, the deepest crisis, with great repercussions. Therefore, measures were taken, among wich, what concerns us, the creation of Sociedad de Gestión de Activos Procedentes de la Reestructuración Bancaria (SAREB), also known as Bad Bank, since it was in charge of acquiring all toxic financial assets and real state assets from unpaid mortgages. With a Disinvestment Plan of 15 years, since 2012 it is born until 2027 that total desinvestment is expected Universidad de Sevilla. Grado en Administración y Dirección de Empresas

Namen predmetne magistrske naloge je identifikacija nekaterih glavnih pravnih in fiskalnih ovir, s katerimi se pri upravljanju premoženja srečuje DUTB, ter iskanje potencialnih rešitev v okviru postopka prenosa določenih sklopov premoženja na (zasebno) namensko družbo kot enega izmed možnih ukrepov, ki jih ima DUTB na voljo pri opravljanju svoje dejavnosti v okviru ZUKSB. V ta namen poskuša prvi del magistrskega dela prepoznati nekatere ključne dejavnike, ki lahko pripomorejo k uspešnejšemu doseganju ciljev ukrepa slabe banke, ter predstaviti določene ovire, s katerimi se pri poslovanju srečuje DUTB, s hkratno primerjavo konceptov irskega in španskega modela slabe banke. Slednja kot predmet primerjave služita predvsem zato, ker se od DUTB diametralno razlikujeta glede na lastniško strukturo ter na naravo prenesenega premoženja obe slabi banki sta namreč večinsko v zasebni lasti, prenesena sredstva pa popolnoma homogena. Drugi del magistrske naloge je namenjen pregledu obsega in vrste premoženja v upravljanju DUTB, načinu upravljanja sredstev v skladu z obstoječim normativnim okvirom ter pregledu določenih pravnih izjem, ki jih je pri opravljanju svoje dejavnosti deležna DUTB. Na podlagi obravnave v prvem in drugem delu, magistrska naloga v nadaljevanju izhaja iz predpostavke, da bi se določene pozitivne učinke, ki jih prinašata zasebno lastništvo ter večja stopnja enotnosti pri upravljanju sredstev, dalo doseči preko prenosa posameznih kategorij premoženja na posebno namensko družbo v obliki tako imenovanega skupnega vlaganja (joint venture) z zasebnimi vlagatelji. Sklepno je torej podrobneje predstavljen sam način prenosa premoženja, in sicer postopek izčlenitve, kot ga ureja splošna gospodarsko pravna zakonodaja, ter analiza potencialnih prednosti in ovir, ki se pri tem lahko pojavijo. The objective of the master thesis is to identify some of the main legal and fiscal obstacles that BAMC encounters while managing its assets and to uncover potential solutions arising from the process of transferring certain sets of assets to a (private) special purpose vehicle, as one of the possible measures, which can be applied by DUTB pursuant to the relevant provisions of ZUKSB. For that purpose, the first part of the master thesis focuses on recognition of the key factors contributing to the successful achievement of the bad bank's objectives and presentation of certain obstacles faced by BAMC in the course of its business, whilst simultaneously comparing BAMC with the Irish and Spanish bad bank models. These models will serve as the subject of comparison mainly due to their diametrical difference in the ownership structure and the nature of the transferred assets, namely both bad banks are privately owned and the transferred assets are completely homogeneous. The second part of the master thesis is intended to review the scope and the type of assets managed by BAMC, the methods used in asset management process in accordance with the existing regulatory framework and assessment of certain exemptions from application of other laws vis a vis BAMC. On the basis of the findings in the first two parts, hereinafter, the master thesis builds on the assumption that certain positive effects generated by private ownership and a greater degree of unity in the management of assets could be achieved through the transfer of individual categories of assets to a special purpose vehicle in the form of a joint venture involving private investors. Accordingly, the process of spin-off, as a way of such transfer and as regulated by the general economic legislation is presented in more detail, as well as the potential advantages and impediments which may occur in this regard.

Ključna vsebina diplomskega seminarja je analiza vpliva DUTB na slovenski bančni sistem v obdobju 20082015. Poleg opisa zakonske podlage DUTB je v ospredju raziskava vpliva DUTB na izbrane dejavnike stabilnosti bančnega sistema likvidnost, solventnost, finančna uspešnost in donosnost. Analiza je bila izvedena na podlagi podatkov Banke Slovenije in strokovnih člankov ter zajema naslednje kazalnike: kazalnika likvidnosti I. in II. razreda, kazalnik kapitalske ustreznosti, kazalnik neto obrestne marže ter kazalnika donosnosti kapitala in sredstev. Pri likvidnosti smo opazili padanje obeh kazalnikov, vendar je likvidnost II. razreda bolj strmo padala do leta 2013, ko pa sta se oba kazalnika povrnila na zadovoljive ravni. Neto obrestna marža je na začetku opazovanega obdobja precej stagnirala, vendar je tudi ona s koncem leta 2011 začela padati ter se je povrnila blizu predkrizne ravni z letom 2014. Pri kapitalski ustreznosti smo ugotovili predvsem počasno odzivnost lastnikov bank do potrebe po zvišanju le-te. Donosnost bank je postala negativna z letom 2010 in svojo najnižjo točko dosegla leta 2013. Z letom 2015 sta oba kazalnika donosnosti spet postala pozitivna. Vsi kazalniki imajo skupno lastnost doživeli so močan trend pozitivne rasti v letih 2013, 2014 in 2015. Pri rasti vsakega smo ugotovili povezavo z ustanovitvijo DUTB. Glede na opravljeno raziskavo je ugotovitev tega diplomskega seminarja, da je DUTB pozitivno vplivala na slovenski bančni sistem. The key content of the thesis is the analysis of Bank Assets Management Company's influence on the Slovenian banking system, during the period of 2008-2015. The primary focus of the research, besides the legal basis, is the analysis of DUTB's influence on chosen indicators of banking systems stability: liquidity, solvency, financial success and profitability. Bank of Slovenia's data was the basis of our analysis, which consists of the next indicators: liquidity ratios I. and II. class, capital adequacy ratio, net interest margin ratio, return on capital and return on assets. We noticed a decline in both liquidity ratios, with decline of II. class ratio being far more distinctive until 2013, when they both returned to satisfying levels. Net interest margin was stagnating until 2011, followed by a three year decline, which ended 2014, when the margin returned on pre-crisis levels. Capital adequacy was unsatisfactory, mainly due to slow actions of bank owners. Bank profitability became negative in 2010 and reached its lowest point in 2013. By 2015 banks became pofitable again. All selected indicators have a common attribute they all experienced a strong trend of positive growth in years 2013, 2014 and 2015. In all areas of analysis, we discovered a connection between Bank Assets Management Company's founding and ratios growth. Based on our analysis, the finding of this thesis is, that Bank Assests Management Company had a positive effect on Slovenian banking system.

During the economic crisis, Slovenia has transformed from one of the most successful new EU Member States into one of the most problematic ones. The reason for this is largely extensive banking problems, that continue to cause uncertainty on financial markets and adversely affect the rating of the country and consequently also the price of borrowing for both the state and private entities. Slovenia has opted to rehabilitate its banking sector by means of a bad bank (DUTB) that, however, only became operational at the end of 2013. The paper seeks to examine whether a bad bank has indeed proven the most appropriate choice out of possible methods of resolving the banking crisis, based on the most recent findings regarding the suitability of various methods of bailing out banking systems in crisis, taking into consideration key elements required for the successful rehabilitation thereof. The paper finds that, taking into consideration all relevant circumstances, the bad bank has proven to be appropriate solution in the Slovenian case but the delay in rehabilitating the banking system has had significant negative macroeconomic impacts as demonstrated by a comparison to other selected countries that had opted to bail out the banking sector before Slovenia. State ownership of systemic banks and political instability have both greatly contributed to slow action taken.

“Back from the dead” is how international media today describes the Bank of Cyprus after its resolution. Although market perception and financial results are improving considerably, there is still a “nightmare haunting” BoC’s credibility and performance: the big scale of Non- Performing Loans. The case narrative describes all the important facts during and after the turbulent crisis period as well as the actions of BoC’s CEO to overcome the bad debt problem and the hypothesis of the creation of a “bad bank”. The teaching notes analyze the impact of NPLs’ problem and the options presented at the end of the case.

Brezhibno delovanje bančnega sistema je ključnega pomena za obstoj in nadaljnji razvoj države. Že v sami preventivi je potrebno, da smo pozorni na bančno politiko, ki jo vodi država, ter da nenehno spremljamo zadolženost, likvidnost in kapitalsko ustreznost bank. Kadar se pojavi bančna kriza, le-tej navadno sledi tudi valutna in dolžniška kriza, nemalokrat pa nato celotno nacionalno gospodarstvo pade v gospodarsko recesijo. Iz omenjenih razlogov se je nanjo treba primerno odzvati. Osnovni namen ustanovitve slabe banke je stabilizacija bančnega sistema, povečanje transparentnosti ter povrnitev zaupanja investitorjev in pomoč ter aktivno sodelovanje v procesu prestrukturiranja potencialno dobrih podjetij. Zelo pomembno je, da banke in država delujejo usklajeno. Ključnega pomena je predvsem povrniti zaupanje v bančni sistem in ustrezno zavarovati bančne vloge. Uvedba slabe banke je vsekakor učinkovit proces reševanja bančne krize nacionalnega bančnega sistema, vendar ugoden končen rezultat ni samoumeven. V prvi vrsti je potrebno izbrati najprimernejši model implementacije slabe banke in izbrati ustrezen organizacijski model. Zelo pomembna je tudi zaposlitvena struktura. Zaposleni morajo biti strokovno podkovani in politično neobremenjeni, saj ima političen vpliv močno negativen vpliv na slabo banko. Uporabo mehanizma slabe banke v procesu premostitve bančne krize spremljajo visoki stroški. Konkretnejši prenosi sredstev in tveganj namreč povečujejo stroške, pa vendar obenem prinašajo transparentnost, večajo fleksibilnost bank in boniteto ter povečujejo zaupanje tujih investitorjev in omogočajo lažji dostop do virov financiranja. Za izbiro ustreznega modela je torej potrebno predhodno opraviti vrsto analiz različnih postavk, jih ustrezno ovrednotiti, določiti njihov vpliv na koeficient kapitalske ustreznosti banke in na podlagi pridobljenih rezultatov izbrati ustreznega. Ključnega pomena je predvsem prvo leto delovanja slabe banke, saj mora le-ta razmeroma hitro in jasno določiti, kako bo obravnavala posamezne vrste slabih kreditov ter terjatev. Primeri slabih bank iz tujine so v mnogih primerih pokazali, da so izkušnje uporabe inštrumenta slabe banke v veliki meri pozitivne. Pri tem gre zlasti izpostaviti primere iz Irske, Švedske, Nemčije in Amerike. Proper working order of the banking system represent key elements in the existence and further development of a country. The banking policy of a country and constant monitoring of indebtedness, liquidity and capital adequacy of banks should represent an integral part of the preventive measures. Whenever a banking crisis appears, it is usually followed by a monetary and debt crisis. Furthermore, it is not uncommon for the whole national economy to fall into economic recession. Therefore, a banking crisis should be properly addressed. The main purpose of creating a bad bank is to stabilize the banking system, increase transparency and regain trust of investors as well as their help and active involvement in the process of restructuring potentially good companies. It is of the utmost importance that companies and banks work in harmony. Key aim is mainly to rebuild trust in the banking system and to properly secure bank deposits. The implementation of a bad bank represents an efficient process of solving the banking crisis of the national banking system. However, a positive final outcome should not be self-granted. Primarily, the most suitable model for the implementation of a bad bank and a suitable organisation model should be chosen. Secondly, employment structure plays also an important role. Employees need to have proper expertise and should not be subjected to any political influences, as politics can have a strong negative effect on the bad bank. The process of overcoming banking crisis is often accompanied by high costs due to the use of bad bank mechanism. A more substantial transfer of assets and risks increases the costs. However, at the same time it ensures transparency, increases flexibility and credit rating of banks as well as increases foreign investors’ confidence and enables easier access to financial sources. In order to choose a suitable model it is therefore necessary to conduct a series of analysis for various thesis in advance. Moreover, the items must be properly evaluated, their influence on the coefficient of the capital requirement of a bank must be determined and on the basis of the results gained a suitable model should be chosen. The first year of the bad bank practice is of key importance. How individual types of bad loans and claims will be handled must be identified relatively fast and clearly. It has been shown that the use of bad banks abroad has born positive results and the examples from Ireland, Sweden, Germany and the USA clearly prove that.

The Indian debt overhang issue is one of the major reasons that fresh investments are currently not being made in the scale required to promote higher growth and boost employment. Among banks the public sector banks (PSBs) are burdened with the bulk of net non-performing loans (NNPAs). These NNPAs are concentrated in long gestation projects, for example, in the steel, power and infrastructure sectors and most of the lending was to about 50 major borrowers. This paper details the approaches of other countries when their banking sectors were burdened with unsustainable levels of impaired assets. The paper examines the bad debt situation in India, the circumstances under which Asset Reconstruction Companies were registered and the changing regulatory requirements under which they have been operating in India. Till now, the extent to which ARCs have helped towards resolving the debt problem has been limited. Given that fixed costs in setting up ARCs have already been incurred this paper suggests how ARCs could play a catalytic and more significant role in addressing the debt overhang. The paper does not discuss the causal origins of Indian bad debt in any detail and is not intended to suggest comprehensive remedies to this debt problem.

L’esigenza di affrontare e risolvere il problema dei crediti deteriorati ha spinto negli ultimi anni molti paesi europei a diversi percorsi di soluzione, con l’intervento di risorse pubbliche. Fino al recente decreto italiano che stanzia risorse per il rafforzamento patrimoniale e la concessione di garanzie. Dall’analisi emerge l’importanza del fattore tempo e il valore di soluzioni efficienti e omogenee in Europa. Con la consapevolezza che un peso eccessivo è stato attribuito alla concorrenza rispetto alla stabilità sistemica e al valore pubblico della tutela del risparmio.

The financial turmoil that disrupted the functioning of the banking systems across EU has revived the international debates related to developing proper mechanisms for the orderly recovery and resolution of failing banks. The paper provides an insight into the regulatory initiatives launched by the European Commission, the Financial Stability Board or the World Bank and outlines the current status of the national options related to a particular resolution tool. The second part of the paper empirically assesses the extent to which the bad bank schemes implemented since the end of 2009 in two EU countries (Ireland and Germany) achieved their purpose, of running the wind-up activity efficiently, by employing a nonparametric technique.

V delu diplomskega projekta je predstavljeno, kako je prišlo do svetovne finančne krize leta 2008. Vse države so se takrat morale soočiti z dejstvom, da je tudi njih prizadela kriza, in se odločiti, kako posredovati, da bi bile posledice čim manjše. Raziskovali smo tudi, kdo so krivci za nastanek krize globalne razsežnosti. Ker se je kriza zgodila zaradi ameriškega drugorazrednega trga hipotekarnih posojil, se je seveda kriza najprej pojavila v ZDA, ker pa je ameriško gospodarstvo tako veliko in močno, se je kriza hitro razširila tudi v Evropo, saj so evropske banke veliko vlagale v ameriški trg hipotekarnih posojil. Slabe terjatve so nastale predvsem zaradi zgrešene politike bank, ki so dajale kredite fizičnim osebam in pravnim subjektom, za katere se je vedelo, da ne bodo sposobni vrniti najetih kreditov. Države so se morale odločiti, s katerimi instrumenti bodo ublažile posledice krize. Večina držav se je odločila za uvedbo slabe banke in prenos slabih sredstev. Ker pa poznamo več modelov slabe banke, se je bilo treba odločiti, kateri model izbrati, da bi tako čim prej izplavali iz krize. Opisali smo več modelov, ki so med bolj prepoznavnimi in uspešnimi. Podrobneje smo opisali slovenski model slabe banke – DUTB in ga primerjali s špansko slabo banko – SAREB. Primerjali smo ju po več kriterijih in predstavili ugotovitve. Our graduation project presents how it came to the global financial crisis in 2008. All countries have to face the fact that in the meantime they are also affected by the crisis and to decide, how to act accordingly so that the consequences are lowered to minimum. We also studied who are the culprits for the emergence of the crisis, which has acquired a global dimension. As the crisis has been caused by US sub-prime mortgage market, it first emerged in the United States, but because the US economy is so large and powerful, the crisis quickly spread to Europe because European banks have invested heavily in the US mortgage credit market. Bad debts occure mainly due to the misguided policies of banks that give loans to natural persons and legal entities, which are known to not be able to repay loans. All countries should decide what instruments should be used to mitigate the effects of the crisis. Most countries have decided to establish a bad bank and to transfer bad assets. However, since there are several models of bad bank, it has been necessary to decide which model to decide on, in order to settle them as soon as possible to lessen the crisis. We describe several models which are among the most recognizable and successful. Further comparisson of Slovenian model of bad bank - DUTB with the Spanish bad bank SAREB is shown. We compared them according to various criteria and came up with conclusions which are also presented below.

V diplomskem seminarju se natančneje ukvarjamo s procesom prve in druge sanacije bančnega sistema Republike Slovenije. Sanacija pomeni ozdravitev banke in ponovna vzpostavitev predpisanih pogojev za njeno delovanje. Predstavlja celoto organizacijskih, finančnih in pravnih ukrepov, katerih cilj je odpraviti nezaželjene vzroke, ki ogrožajo ali vodijo k nesolventnosti bančnega sistema. V prvem delu diplomskega seminarja predstavljamo značilnosti slovenskega bančnega sistema, ustanovitev banke Slovenije, ter strukturo bančnega sistema. Nadaljujemo z definicijo sanacije, ter navedemo glavne vzroke sanacije bank po osamosvojitvi. Sanacijo natančneje definiramo in določimo zakonsko podlago za prvo in drugo bančno sanacijo pri nas. Predstavimo tudi ukrepe, ki so bili uveljavljeni, to so stresni testi, dokapitalizacija in ustanovitev slabe banke. Na koncu diplomskega seminarja primerjamo prvo in drugo sanacijo na podlagi izbranih kriterijev. In the slovenian banking sector there are two important processes, namely the rehabilitation and the transformation of banks according to criteria of the developed Western countries. This thesis seminar is further engaged with the process of rehabilitation of the banking system of the Republic of Slovenia. Rehabilitation means the recovery of the Bank and the resoration of normal conditions for its operation. It consists of organizational, financial and legal measures aimed at eliminating the causes that threaten or lead to the insolvency or over-indebtedness of banks. The first section presents the characteristics of the Slovenian banking system, the establishment of the Bank of Slovenia and the structure of the banking system. We continue with the defination of rehabilitation, and we state the main causes for the bank rehabilitation after the independence. We introduce the rehabilitation of the banking system in the Republic of Slovenia and define the legal basis. We also introduce the measures that have been applied, i.e. stress test, capital increase and the creation of a bad bank. At the end of the seminar we comparing the first and second rehabiliatio on the basis of criterias.

Namen raziskave je ugotoviti, kako učinkovito ravnati z ljudmi pri delu, ko v organizaciji potekajo korenite spremembe. Cilj magistrske naloge pa je analizirati proces preoblikovanja organizacije z vidika kadrovskega managementa ter na osnovi ugotovitev in spoznanj predlagati izboljšave in rešitve, ki bodo v pomoč kadrovskim in drugim managerjem kot usmeritve pri oblikovanju ukrepov, projektov in programov v času, ko v organizaciji potekajo procesi sprememb. V bančnem sektorju je prišlo v zadnjih letih zaradi spremembe poslovnega okolja, strožje zakonodaje ter ekonomske krize do potrebe po korenitem preoblikovanju bolj izrazito kot v drugih sektorjih gospodarstva. Predmet raziskave je nekdanja banka, ki se je zaradi novega poslovnega modela preoblikovala v podjetje za upravljanje premoženja oz. v tako imenovano slabo banko. V teoretičnem delu magistrske naloge smo raziskali literaturo in vire, ki obravnavajo preoblikovanje podjetij, reševanje bank v času ekonomske krize ter upravljanje sprememb v povezavi s kadrovskim managementom. V empiričnem delu pa smo se z raziskavo osredotočili na obdobje, ko je v raziskovani slabi banki potekalo v okviru programa sprememb več projektov, od tega dva pod okriljem kadrovske službe. Pred tem v podjetju spremembe niso potekale tako strukturirano in celovito. Primerjavo s preteklim obdobjem smo opravili s pomočjo anonimne ankete, s katero smo tudi preverili uspešnost pristopa slabe banke pri uvajanju organizacijskih sprememb ter učinkovitost uvedenih kadrovskih praks in rešitev. Rezultati pregleda literature so pokazali, da mora kadrovski management v podjetju prevzeti vodilno vlogo pri vodenju sprememb. To vlogo pa si bo moral šele pridobiti z več dela na strateški ravni ter z boljšim poznavanjem poslovanja. Na osnovi empirične raziskave smo spoznali, da peoblikovanje poslovnega modela korenito poseže v vse funkcije podjetja. S proaktivnim pristopom se je kadrovska funkcija slabe banke uspešno soočila z novimi potrebami ter prevzela vlogo agenta sprememb. Uvedla je številne nove ukrepe in rešitve, ki so bili s strani anketirancev zaznani kot izboljšave. V sklopu magistrske naloge smo identificirali priložnosti za izboljšave zlasti na področju vrednotenja učinkovitosti posameznih ukrepov, na področju motivacije in ohranjanja kadrov ter izobraževanja in razvoja kadrov. The purpose of the research is to determine how to deal with people at work effectively when the organization is undergoing radical changes. The objective of the master's thesis is to analyze the process of organizational transformation from the perspective of human resource management, to suggest improvements and solutions that will serve HR and other managers as guidelines in designing measures, projects and programs at times of organizational change. The need for a radical transformation was due to changes in the business environment, more stringent legislation and economic crisis in recent years more strongly expressed in the banking sector than in other sectors of the economy. The subject of the research is a former bank which has been due to its new business model transformed into an asset management company, into the so-called bad bank. Literature and other sources that address transformation of companies, bank rescue in times of economic crisis and change management in connection with the human resource management were studied in the theoretical part of the master’s thesis. In the empirical part the focus was put on the period when in the studied bad bank several projects were implemented within the change management program. Two of these projects were managed by the HR department. Prior to this period changes in the company did not proceed in such a structured and comprehensive way. Comparison with the previous period was performed through an anonymous survey. The survey was also used to verify the effectiveness of bad bank's approach in implementing organizational changes and human resource management practices and solutions. The results of the literature review showed that the human resources management should take a leading role in change management. This role will need to be obtained through more work at a strategic level and a better knowledge of the business. Based on empirical research, it has been realized that the revised business model radically affected all functions of the company. By taking a proactive approach, the human resources function of the studied bad bank coped with the new needs and assumed the role of change agent. HR professionals introduced a number of new measures and solutions that had been perceived as improvement by the survey respondents. As part of the master's thesis some opportunities for improvement were identified, notably in the field of evaluation of individual measures and in the field of employee motivation, retention and learning and development.

Naloga banke kot finančne institucije je predvsem uravnoteženje ponudbe in povpraševanja po denarju. Vključenost bank v gospodarstvo države pomembno vpliva na njeno optimalno delovanje in rast z zagotavljanjem likvidnosti gospodarskih subjektov. V primeru različnih odklonov od normalnega delovanja bančnega sistema je interes držav, da bankam pomagajo iz likvidnostnih težav. Oblika in višina pomoči se med državami lahko zelo razlikuje zaradi finančne sposobnosti in različne zakonodaje. To je razvidno iz načinov reševanja zadnje globalne finančne krize, ki jo je sprožil zlom ameriškega nepremičninskega in finančnega trga leta 2007. V diplomskem delu bomo podrobneje predstavili vzroke in dejavnike za nastanek bančnih kriz v izbranih državah Evropske unije ter pristope k reševanju njihovih bančnih sistemov, s poudarkom na sanaciji slovenskega bančnega sistema in njegove stabilizacije v prihodnosti. Različni sanacijski pristopi držav so privedli do bolj ali manj uspešnih rešitev v smislu sanacije bank. Uspešnost sanacij v posameznih državah je težko oceniti glede na to, da procesi sanacije v nekaterih državah še potekajo. The Bank's role as a Financial Institution is mainly balancing the supply and demand for Money. The involvement of Banks in the Country's economy has a significant impact on its optimal performance and growth by providing liquidity. In the case of various deviations from normal procedures of the Banking System it is in Countries interest to assist Banks in case of liquidity problems. Form and level of support can vary greatly between Countries due to different legislation and their financial capabilities. This is reflected in the ways of solving the last global financial crisis, which was triggered by the collapse of the US real estate and financial markets in 2007. The thesis will present the causes and factors of banking crises in selected Countries of the European Union and the approaches to resolve their banking systems with emphasis on the rehabilitation of the Slovenian banking system and its stabilization in the future. Different approaches to the rehabilitation of Countries have led to more or less successful solutions in terms of rehabilitation of Banks. The success of rehabilitation in individual Countries is difficult to assess as the rehabilitation processes are still ongoing in some Countries.

This article reflects on some of the banking crisis resolution measures taken by the Swedish and Norwegian governments during the Scandinavian banking crisis of the early 1990s. Much as in the U.S. in 2008, the Scandinavian crisis two decades ago was preceded by a broad relaxation of bank lending standards, followed by a dramatic increase bank lending, decline in household savings, and a rise in housing prices. A decline in oil prices caused a macroeconomic contraction in (oil-exporting) Norway, which shook an already fragile banking system. Norway and Sweden chose two somewhat different routes to crisis resolution, both involving government intervention and both quite successful: The Norwegian government injected a hybrid debt-equity capital in the largest commercial bank but only after extinguishing old equity claims. The Swedish government issued a system-wide debt guarantee and allowed shareholders to maintain their equity stakes provided they also added new bank equity capital. In one bank, where equity-holders refused to participate, the government took over the bank and split it into a “good” and a “bad” part – the latter holding the non-performing loans. Lessons from Scandinavia are interesting today also because the recent U.S. banking system bailout, after some initial trial and errors, also ended up with government ownership of shares in financial institutions. I comment on the question of how the U.S. government, having effectively become “owner of last resort” in key financial institutions today, should handle its controlling equity stakes.

Die Finanzkrise hat gezeigt, dass das Eigenkapital vieler Banken zu gering war. Ulrich van Suntum und Cordelius Ilgmann, Universität Münster, weisen darauf hin, dass zwar die bilanziellen Eigenkapitalquoten der Banken mittlerweile sogar höher sind als vor der Finanzkrise, aber dennoch könne von Entwarnung keine Rede sein, denn die vor der Finanzkrise üblichen Eigenkapitalquoten hätten sich als deutlich zu gering erwiesen, um systemische Zusammenbrüche zu verhindern. Das deutsche Bad-Bank-Modell habe seinen Fehler vor allem in der Freiwilligkeit der Teilnahme. Man solte bei der Bad-Bank-Lösung an dem in Deutschland bereits früher verwendeten Instrument der Ausgleichsforderungen anknüpfen. Nach Ansicht von Wolfgang Hönig, ehemals Commerzbank AG, Frankfurt, sollte zum einen die Qualität der Ratingagenturen verbessert werden. Zum anderen sollte der Staat die systemrelevanten deutschen Banken durch Stresstests daraufhin untersuchen, ob sie sanierungsbedürftig und -fähig sind. Die hierbei identifizierten B-Banken seien von Amts wegen zu sanieren. Auch Stephan Götzl, Genossenschaftsverband Bayern, möchte die staatlichen Hilfsmaßnahmen für angeschlagene Banken verpflichtend machen. Zusätzlich sollte man in Zukunft die Rahmenbedingungen so setzen, dass Banken nicht mehr zu »systemisch« – also zu groß, komplex, undurchschaubar oder international – sein können, um pleite zu gehen: Eine Bank müsse auch aus dem Markt ausscheiden können.

Zentrale Maßnahmen zur Überwindung der Bankenkrisen der 90er Jahre in Schweden und Finnland waren in beiden Ländern der Aufkauf von "schlechten Papieren" durch Vermögensverwaltungsgesellschaften ("Bad Banks") und die Verstaatlichung von wichtigen Banken. Aus finnischer und schwedischer Sicht sollte dem Krisenmanagement und insbesondere der Sanierung der notleidenden Aktiva in den Bankbilanzen Priorität eingeräumt werden. Dank strikter Abnahmekonditionen und erfolgreicher Verwertungsstrategien gelang es den schwedischen "Bad Banks" den Steuerzahler von den Kosten der Krise zu entlasten. Die Übertragbarkeit dieser Ergebnisse auf die Gegenwart ist indes fraglich. Preisfindung und Verwertung sind für verbriefte, mit Hypotheken unterlegte Wertpapiere weitaus schwieriger zu handhaben als für einheimische Immobilien- und Unternehmenskredite. Wichtiger ist es angesichts der weiter schwelenden Bankenkrise, zunächst einmal die Eckpfeiler der neuen Finanzmarktarchitektur festzulegen.

Il rapido e consistente deterioramento del portafoglio prestiti bancari, causato dal rallentamento dell’economia nel corso degli ultimi anni, e la conseguente elevata incidenza dei crediti deteriorati (NPL) nei bilanci delle banche europee costituisce una preoccupazione per le autorita di vigilanza, oltre che per le stesse banche. Un’elevata rischiosita del portafoglio prestiti riduce la redditivita delle banche e al limite ne compromette la stabilita e al contempo e una delle principali cause del rallentamento dell’offerta di credito, nonostante l’abbondante liquidita immessa nel sistema dalla BCE. L’articolo si propone di analizzare, con riferimento alle banche europee e in particolare a quelle italiane, il fenomeno dei NPL e le loro conseguenze, e di individuare le soluzioni adottabili dalle singole banche ovvero a livello di sistema. Se da un lato, l’implementazione da parte delle banche di pratiche gestionali piu efficaci ed efficienti puo contribuire a ridurre l’incidenza dei NPL nei bilanci bancari, restano peraltro ostacoli dovuti a fattori esogeni, quali inefficienze nelle procedure di gestione delle crisi aziendali e/o nel recupero dei crediti o ancora l’assenza di un ampio ed efficiente mercato secondario per i NPL. Questo giustifica la ricerca di soluzioni di sistema, che tuttavia - a differenza di quanto accaduto in passato in altri paesi europei - non puo contare su un consistente aiuto pubblico. Si tratta quindi di trovare un difficile bilanciamento tra costi individuali e benefici che invece quantomeno in parte sono di natura pubblica

Finančna kriza, ki se je leta 2008 iz ZDA razširila v Evropo, je močno prizadela bančne sisteme številnih držav. Zaradi pokov nepremičninskih in borznih balonov se je v bilancah bank povečal delež slabih terjatev, kar je zmanjšalo njihovo kapitalsko ustreznost ter ogrozilo likvidnost in solventnost bank, s tem pa stabilnost bančnih sistemov. Eden izmed načinov reševanja bančnega sistema, ki so se ga v času globalne finančne krize poslužile številne države, je uporaba koncepta slabe banke. Slovenija je s tem namenom ustanovila Družbo za upravljanje terjatev bank. Naloga podrobneje opisuje pojme, povezane s slabo banko, ter sam koncept in različne oblike slabe banke. Koncept je bil v preteklosti že večkrat uporabljen. V času aktualne krize številne države, med njimi tudi ZDA, Nemčija, Irska, Španija in Slovenija, na ta način rešujejo svoje banke. Slovenska slaba banka je bila ustanovljena pet let po začetku krize in zaenkrat uspešno dosega kratkoročno zastavljene cilje. S svojim delovanjem je v prvem letu pripomogla k izboljšanju kapitalske ustreznosti in likvidnosti bank ter k izboljšanju zaupanja v bančni sistem. O njeni učinkovitosti ter doseganju glavnega namena in cilja bo lažje presojati po nekaj letih njenega delovanja. In 2008, financial crisis, which started in the US, spread over to Europe, affected banking systems of many countries. Because of the housing and the stock market bubbles' pops, there was an increase of non-performing loans ratio in banks. This reduced banks’ capital adequacy and endangered their solvency and stability of banking systems. One way of solving a banking system is the concept of bad bank. Many countries used this concept for rescuing their banks in the current crisis. For this purpose, Slovenia established the Bank Asset Management Company. This paper defines terms connected with bad bank, the concept of bad bank and different forms of it. The concept has already been used several times in the past. In the current crisis, many countries are rescuing their banks this way, including US, Germany, Ireland, Spain and Slovenia. Slovenian bad bank was established five years after the crisis began and it has successfully fulfilled its short-term goals up to now. During the first year of its operation, the slovenian bad bank contributed to the improvement of banks’ capital adequacy and solvency, and to the improvement of trust in the banking sector. It will be easier to judge its effectiveness after a few years of its operation.

V diplomskem projektu se podrobneje ukvarjamo z drugo sanacijo bančnega sistema v Republiki Sloveniji. V prvem delu predstavimo definicije, povezane s sanacijo bančnega sistema, in modele, ki se uporabljajo za sanacijo. Nadaljujemo s kratkim zgodovinskim pregledom bančnega sistema v Sloveniji ter navedemo glavni vzrok slovenske sanacije, kar je prehitra in neuravnovešena rast bančnega sistema pred krizo in začetek svetovne gospodarske krize. Sanacijo bančnega sistema v Republiki Sloveniji kronološko predstavimo in opredelimo zakonsko podlago. Ukrepe, ki so bili v Sloveniji uporabljeni, torej stresni testi, dokapitalizacija in ustanovitev slabe banke, podrobneje opišemo in prikažemo njihovo uresničevanje. V zadnjem delu diplomskega projekta ugotavljamo primernost sanacije bančnega sistema v Republiki Sloveniji. V primerjavi z dvema evropskima državama, Španijo in Irsko ugotovimo, da je bila sanacija slovenskega bančnega sistema v osnovi izvedena primerno, vendar pa bi lahko bili določeni ukrepi izvedeni optimalneje. The diploma project is in detail engaged with a second rehabilitation of the banking system in the Republic of Slovenia. In the first part we present definitions related to the rehabilitation of the banking system as well as the models that are used for the rehabilitation. We continue with a brief historical overview of the banking system in Slovenia and we describe the main causes of Slovenian rehabilitation. Namely, too rapid and imbalanced growth of the banking system before the crisis and the beginning of the global economic crisis. The rehabilitation of the banking system in the Republic of Slovenia is presented chronologically and defined on legal basis. The measures that have been used in Slovenia, i.e. stress tests, capital increase and the creation of a bad bank, are described in detail and their implementation has been illustrated. In the last part of this project we examine the suitability of the rehabilitation of the banking system. In comparison with the two European countries, Spain and Ireland we found out that the rehabilitation of the Slovenian banking system was basically carried out properly, but certain actions could have been done in a more optimal way.

Magistrska naloga obravnava področje bančništva oziroma reševanje bančnega sistema z različnimi pristopi s poudarkom na reševanju bančnega sistema s slabo banko. Mnogo svetovnih bančnih sistemov se je po eskalaciji finančne krize znašlo v težavah. Praksa je pokazala, da so zaradi visoke povezanosti bančnega sistema z gospodarstvom in obratno novonastale zaostrene razmere zahtevale ukrepanje držav. Države so se odzvale z različnimi ukrepi opisanimi v drugem delu in tudi kombinacijo ukrepov, med katerimi se je ustanovitev slabe banke in prenos slabih sredstev, v več primerih izkazala za primerno. Predvideva se, da bodo banke očiščene slabih terjatev na ta način revitalizirane in pripravljene prispevati k izhodu iz krize. Dobri primeri iz prakse kažejo, da je bilo reševanje bančnega sistema pred zadnjo finančno krizo uspešno z implementiranjem slabe banke na Švedskem, v zadnjem kriznem obdobju pa v ZDA in Nemčiji. Podoben razvoj dogodkov se je odvijal tudi na Slovenskem, kjer je reševanje bančnega sistema s poroštvi/jamstvi, dokapitalizacijami, nadzorovanimi likvidacijami sicer zajezilo naglo slabšanje položaja bančnega sistema, vendar ga ni preprečilo in odpravilo. Skladno s to ugotovitvijo smo v nalogi v zadnjem delu podrobneje raziskali načine reševanja bančnega sistema s slabo banko. Za najbolj primernega za primerjavo smo ocenili nemški model slabe banke, saj gre pri njem za novejši model, katerega portfelj je tako kot pri slovenskem modelu manj homogen v primerjavi z ostalimi navedenimi modeli. Opravili smo poglobljeno raziskavo prenosljivosti nemškega modela slabe banke na slovenskega z izvedbo primerjalne analize modelov, in sicer z vidika posameznih elementov nemške in slovenske slabe banke, njunih prednosti in pomanjkljivosti ter strukture njunih portfeljev. Research field of master’s degree is banking and rescuing of troubled banking systems based on various approaches with emphasis on bad bank. Many of banking systems were highly affected after worldwide escalation of financial crisis. Due to great interconnection between banking systems and economy state measures were required. Countries have responded with various measures described in the second part, and also with combination of those measures, from which the creation of bad bank and transfer of bad assets proved to be appropriate in many cases. Banks relieved from bad assets are expected to be revitalised and to contribute to overcoming of the crisis respectively. Practice cases have proven successful even before the last financial crisis with successful implementation of bad bank in Sweden, and in USA and Germany also during the last financial crisis. Similar development took place in Slovenia, where substantial deterioration of the state banking system was stemmed with guarantees, recapitalizations and liquidations, but was not prevented and suppressed. Consistent with this finding we have further researched feasible ways of solving the banking system with bad bank. We assessed German bad bank model to be the most appropriate model for comparison, as it is one of newer models with less homogeneous portfolio, like Slovenian model. In-depth research of transferability of German bad bank model to Slovenian model was made by carrying out a comparative analysis of latter, and in terms of individual elements of German and Slovenian bad bank, their strengths and weaknesses, as well as the structures of their portfolios.

Banke imajo pomembno vlogo v ekonomijah številnih držav. Njihova temeljna funkcija je funkcija finančnega posrednika med ponudbo in povpraševanjem po denarju. Na ta način vnašajo v preostale segmente ekonomije dodatno likvidnost in tako spodbujajo rast in razvoj narodnih gospodarstev. Motnje v delovanju bančnega sistema povzročajo škodo različnim segmentom države (posameznikom, gospodarstvu, fiskalnemu in monetarnemu sistemu). S tega vidika zato ne čudi močna angažiranost vlad, da so pripravljene reševati bančni sektor skorajda za vsako ceno. Vlade v ta namen sprejemajo različne ukrepe, s katerimi poskušajo stabilizirati svoj bančni sistem, ob tem pa so lahko bolj ali manj uspešne. Kako in katere ukrepe bo vlada uporabila v procesu reševanja bančnih kriz, je v večji meri odvisno od: vzrokov krize, ekonomske in fiskalne situacije v državi, pravnih in institucionalnih možnosti in zmožnosti političnega konsenza vsake države. Zaradi tega ne obstaja univerzalni model v procesu stabiliziranja bančnih kriz, ampak mora biti ta prilagojen značilnostim in posebnostim vsake države posebej. Težišče tega diplomskega dela predstavlja analiza ukrepov pri procesu stabiliziranja bančnih kriz. Zaradi aktualnosti in vsesplošnih debat okoli ustanavljanja slabih bank pa je področju ustanovitve slabe banke namenjena še prav posebna pozornost. Če povzamemo, je diplomsko delo strukturirano na naslednji način: Prvi del je namenjen opredelitvi bančne krize, njenim značilnostim, opredelitvi vzrokov in stroškov bančnih kriz. V osrednjem delu nato podrobneje predstavljamo in analiziramo ukrepe in njihovo problematiko v procesu stabiliziranja bančnih kriz. Nadaljujemo s predstavitvijo modela reševanja bančnega sistema na primeru Švedske v devetdesetih letih prejšnjega stoletja, katerega mnogi še danes navajajo kot vzorčen primer reševanja krize. Slednjemu poglavju je dodana še analiza uporabnosti švedskega modela pri razreševanju sodobnih bančnih kriz. Diplomsko delo nato zaključuje s predstavitvijo ukrepov držav in njihovih stroškov pri reševanju bančnih sistemov po izbruhu globalne finančne krize leta 2007 ter podaja ključne smernice in ugotovitve za uspešnost v procesu stabilizacije bančnih kriz. Banks have an important role in the economy of numerous countries. Their main function is to act as a financial intermediary between supply and demand for money. In this way, they provide additional liquidity to other economic segments, therefore encouraging growth and development of the national economy. Disturbances in the operation of the banking system lead to losses in different segments of the state – including individuals, the economy, and the fiscal and monetary system. In this context, it is easy to understand the strong commitment of governments to save the banking sector at any cost. For this purpose, the governments take different measures to try to stabilize their banking systems, with more or less success. The governmental decision about which measures to use and how to use them in the process of resolving the banking crisis depends mostly on the causes of the crisis, the economic and fiscal situation in the state, the legal and institutional frameworks, as well as the opportunity for political consensus in the state. Therefore, there is no universal model in the process of stabilizing the banking crisis, but it has to be adjusted to the special characteristics of each state. The most important part of this thesis represents the analysis of the measures taken in the process of stabilizing the banking crises. Due to recent events and general debates about the establishment of bad banks, special attention is dedicated to this subject in particular. In short, this thesis is structured as follows: the first part defines the banking crisis, its characteristics, causes, and the costs derived from it. The main body contains the thorough presentation and analysis of the measures taken in the process of stabilizing the banking crisis. It also describes the main features of the Swedish approach for resolving the banking crisis in the 1990s, which is by many people still considered to be a model for what should be done to solve the economic crisis. In addition, it also analyzes the usability of the Swedish model for resolving the modern banking crisis. The thesis concludes with the presentation of the measures taken by the states and the costs they had for saving the banking systems after the outbreak of the global financial crisis in 2007. Additionally, it summarizes the key guidelines and findings needed for the successful stabilization of the banking crisis.

La crisis ha tenido un coste muy fuerte para una ciudadanía que no comprende sus orígenes ni soluciones por su escasa cultura financiera. No encuentra fuentes fiables y comprensibles dónde aprender y para informarse tiene que acudir a medios especializados que utilizan una jerga técnica complicada. El caso del denominado “banco malo” es un ejemplo; una acepción que, a priori, tiene un sentido negativo, cuando en realidad es una solución. El presente trabajo pretende hacer un acercamiento general a los “bancos malos” susceptibles de ser conocidos por la ciudadanía en tiempos de crisis. The crisis has had a very strong cost for citizens who do not understand their origins or solutions by low financial literacy. There are not reliable and comprehensive sources where they learn and if they want to learn more broadly, they have to go to specialized media using complicated technical jargon. The case of the so-called “bad bank” is an example of this situation, a sense that, a priori, has a negative meaning, when in fact it is a positive response to a problem in the banking sector. This paper addresses this solution that the citizen should know.

The crisis has had a very strong cost for citizens who do not understand their origins or solutions by low financial literacy. There are not reliable and comprehensive sources where they learn and if they want to learn more broadly, they have to go to specialized media using complicated technical jargon. The case of the so-called “bad bank” is an example of this situation, a sense that, a priori, has a negative meaning, when in fact it is a positive response to a problem in the banking sector. This paper addresses this solution that the citizen should know. La crisis ha tenido un coste muy fuerte para una ciudadanía que no comprende sus orígenes ni soluciones por su escasa cultura financiera. No encuentra fuentes fiables y comprensibles dónde aprender y para informarse tiene que acudir a medios especializados que utilizan una jerga técnica complicada. El caso del denominado “banco malo” es un ejemplo; una acepción que, a priori, tiene un sentido negativo, cuando en realidad es una solución. El presente trabajo pretende hacer un acercamiento general a los “bancos malos” susceptibles de ser conocidos por la ciudadanía en tiempos de crisis.