Phase of a business cycle, following a recession, where there is an increase in economic activity.
The process of returning a bank to acceptable financial health if it is threatened with circumstances or events that may cause the failure of the institution or group unless recovery measures are implemented in a timely manner.
Recovery is achieving this without imposing losses on the distressed firm's creditors. If recovery is unavailable, "resolution" will be necessary.
The speed with which financial firms can lose their credit standing is so great that in considering the subject it is very often referred to as bank "recovery and resolution".
More generally,a process in which a firm facing financial difficulties is returned to acceptable financial health without imposing losses on the distressed firm's creditors.