London Club
- Institution: London Club
- Abbreviation: -
- Type: Private
- Founded: 1976
- Members Total: depends on Debt Case
- Membership in: not applicable
- Membership of: not applicable
- Description: The London Club is an informal group of commercial banks that join together to negotiate their claims against a sovereign debtor. The debtor initiates a process in which a London Club “Advisory Committee” is formed. The Committee is chaired by a leading financial firm and includes representatives from other exposed firms. Upon signing of a restructuring agreement, the Committee is disolved.
The Club incorporates 600 commercial banks of industrialized countries. The first London Club’s meeting was summoned in 1976 in an attempt to solve Zaire’s payment problems. The London Club operates in close contacts with the Paris Club, the Group of 8 and other international financial institutions./li> - Working Group: not applicable
- Outreach: not applicable
- Reporting to: not applicable
- Website:not applicable
- Highest Organ: not applicable
- Chair: not applicable
- Seat: London
- Function: Coordinate the debt rescheduling efforts of private lenders (esp. banks) to sovereign debtors.
- Standards: not applicable
Sources: Wikipedia, Vnesheconombank
Topics of this post: financial architecture, g8, london, london club, Organisations, paris club, private