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2. Davis, E. P. (1999) ‘Financial data needs for macroprudential surveillance — What are the key indicators of risks to domestic financial stability?’, Bank of England — Centre for Central Banking Studies, Handbooks in Central Banking, Lecture Series, No. 2.
3. Gavin, M. and Hausmann, R. (1996) ‘The roots of banking crises: The macroeconomic context’, Inter-American Development Bank Working Paper No. 318.
4. Kaminsky, G. L. and Reinhart, C. M. (1996) ‘The twin crises: The causes of banking and balance-of- payments problems’, Board of Governors of the Federal Reserve System, International Finance Discussion Papers, No. 544.
5. In particular, they identify the beginning of a banking crisis in a bank run event, which leads to the closure, merging or take-over, by the public sector of one or more financial institutions. If there is no bank run, the beginning of a crisis is signalled by the closure, merging, take-over or large-scale public assistance of an important financial institution that marks the start of a series of similar outcomes for other intermediaries.