European Parliament Library

The Corporation of Foreign Bondholders, Paolo Mauro, Yishay Yafeh

Contributor
Abstract
This paper analyzes the Corporation of Foreign Bondholders (CFB), an association of British investors holding bonds issued by foreign governments. The CFB played a key role during the heyday of international bond finance, 1870-1913, and in the aftermath of the defaults of the 1930s. It fostered coordination among creditors, especially in cases of default, arranging successfully for many important debt restructurings, though failing persistently in a few cases. While a revamped creditor association might once again help facilitate creditor coordination, the relative appeal of defection over coordination is greater today than it was in the past. The CFB may have had an easier time than any comparable body would have today
Table Of Contents
""Contents""; ""I. INTRODUCTION""; ""II. THE NEED FOR CREDITOR COORDINATION, 1870�1913 VERSUS TODAY""; ""III. EFFECTIVENESS: SUCCESSES AND FAILURES""; ""IV. THE CORPORATION OF FOREIGN BONDHOLDERS: MODE OF OPERATION""; ""A. The CFB�s Objectives�Provision of Information and Creditor Coordination""; ""B. The CFB�s Institutional History, Organization, and Officers� Incentives""; ""C. Coordination Among British Creditors""; ""D. Mechanisms for Reaching Consensus Within the CFB""; ""E. Internal Disagreements and Coordination Among Holders of Different Bonds""
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (31 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781281602145

Library Locations

  • EP Library Luxembourg

    Rue du Fort Thüngen, Luxembourg, L-1313, LU
    Borrow
  • EP Library Brussels

    60 rue Wiertz, Brussels, B-1047, BE
    Borrow
  • EP Library Strasbourg

    7 Place Adrien Zeller, Allée du Printemps, Strasbourg, F-67070, FR
    Borrow