IMF again demanded official action against 4 banks

The resolution of a bank means restructuring a failing lender in a situation where regulators believe there’s no prospect of its recovery.

In a detailed Staff Report prepared by an IMF team for the July 12 meeting of its Executive Board to greenlight the $3 billion Stand-By Arrangement (SBA), the Washington-based lender said the full impact of the economic downturn has yet to materialize even though the banking sector appears stable for now.