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Revising Canada's Financial Regulation by Edwin H. Neave,C.D. Howe Institute,Frank Milne Pdf
This paper applies a theory of financial system function and organization to an analysis of possible regulatory reforms to Canada's system of financial regulation. It begins with an overview of the financial system in Canada today, including its changing environment and the pressures for regulatory change. An economic theory of financial activity is then outlined, touching on the system's functions and market structures, the governance of different types of financial transactions, the economics of change, the determinants of financial firms' organizational structures, and some of the trade-offs involved in regulation. The theory is used in assessing proposed regulatory changes, taking into account their objectives, the treatment of similar functions, ownership and structural rules, prudential concerns, and improvements in the release of information. A list of recommendations closes the paper.
White Paper on the Revision of Canadian Banking Legislation by Canada. Department of Finance Pdf
"The British North America Act gives the federal Parliament exclusive power to regulate banking, currency and payments in Canada. Banks may thus only be incorporated under the exclusive authority of the federal Parliament. The Bank Act confers on the Canadian chartered banks their powers, and subjects them to all the restrictions and obligations contained in it."--Introduction.
Thomas J. Courchene,Edwin H. Neave,John Deutsch Institute for the Study of Economic Policy
Author : Thomas J. Courchene,Edwin H. Neave,John Deutsch Institute for the Study of Economic Policy Publisher : Kingston, Ont. : John Deutsch Institute for the Study of Economic Policy Page : 334 pages File Size : 41,9 Mb Release : 1997 Category : Business & Economics ISBN : STANFORD:36105019323885
Review of the Monetary Policy Framework by Great Britain: H.M. Treasury Pdf
This paper reviews the performance of the UK's flexible inflation targeting framework against the internationally-accepted monetary policy objective of price stability, a pre-requisite to longer-term growth and macroeconomic stability. Chapters cover the historical and international context, monetary policy frameworks and monetary policy instruments. The paper gives the Monetary Policy Committee's revised remit at Budget 2013. The Government has retained a flexible inflation target framework. The inflation target of 2 per cent, as measured by the 12-month increase in the Consumer Prices Index, is re-affirmed. The remit has been updated to clarify the trade-offs that are involved in setting monetary policy to meet a forward-looking inflation target, and in forming and communicating its judgements the MPC should promote understanding of these trade-offs. The remit continues to require an exchange of open letters between the Governor of the Bank of England and the Chancellor of the Exchequer if inflation moves away from the target by more than 1 percentage point in either direction. The open letter from the Governor should now be sent alongside the minutes of the MPC meeting that followed the publication of the CPI data. The remit requests that the MPC provides in its August 2013 inflation report an assessment of the merits of using intermediate thresholds - policy commitments conditional on future economic developments. The remit also reflects the Government's intention that the frameworks for monetary policy and macro-prudential policy, operated by the MPC and FPC of the Bank of England respectively, should be coordinated.
Standard for Automatic Exchange of Financial Account Information in Tax Matters, Second Edition by OECD Pdf
This publication contains the following four parts: A model Competent Authority Agreement (CAA) for the automatic exchange of CRS information; the Common Reporting Standard; the Commentaries on the CAA and the CRS; and the CRS XML Schema User Guide.
The Financial Services Sector by Charles Freedman,Clyde Goodlet,Bank of Canada Pdf
Analyzes some key developments affecting the Canadian financial services industry and examines some important issues facing the industry and its regulators. Changes discussed include the way services are provided, the instruments used to provide services, and the nature of the financial service providers. Factors driving these changes include technological developments, the changing role of competition, and demographically led changes in household portfolios. With the evolution in the industry, policy makers and regulators face challenges such as the following discussed in the paper: the relative use of disclosure and market discipline versus direct supervision; the potential role of functional regulation; the role of non-regulated financial service providers; changes in the current supervisory process; cross-border transactions; and the impact of new developments on the legislative framework governing financial service providers.
International Monetary Fund. Monetary and Capital Markets Department
Author : International Monetary Fund. Monetary and Capital Markets Department Publisher : International Monetary Fund Page : 85 pages File Size : 41,9 Mb Release : 2019-06-24 Category : Business & Economics ISBN : 9781498321112
Canada by International Monetary Fund. Monetary and Capital Markets Department Pdf
This Financial System Stability Assessment paper discusses that Canada has enjoyed favorable macroeconomic outcomes over the past decades, and its vibrant financial system continues to grow robustly. However, macrofinancial vulnerabilities—notably, elevated household debt and housing market imbalances—remain substantial, posing financial stability concerns. Various parts of the financial system are directly exposed to the housing market and/or linked through housing finance. The financial system would be able to manage severe macrofinancial shocks. Major deposit-taking institutions would remain resilient, but mortgage insurers would need additional capital in a severe adverse scenario. Housing finance is broadly resilient, notwithstanding some weaknesses in the small non-prime mortgage lending segment. Although banks’ overall capital buffers are adequate, additional required capital for mortgage exposures, along with measures to increase risk-based differentiation in mortgage pricing, would be desirable. This would help ensure adequate through-the cycle buffers, improve mortgage risk-pricing, and limit procyclical effects induced by housing market corrections.
This study discusses ways of evaluating financial regulations and their effect on macroeconomic, allocative, protective, and other financial systems. It is a handy guidebook to regulatory changes faced by banking and nonbanking markets alike.
The International Handbook on Financial Reform by Maximilian Hall Pdf
Under growing pressure from within and outside their economies, countries around the world have embarked upon wide-ranging programmes of financial reform. This handbook provides country studies of contemporary developments in financial reform in a selection of both developed and developing countries from Western Europe, North America, South America, Asia and Australia. The outcome is an account of the contemporary world-wide attempt to refashion the way in which the financial services industry (and especially the banking sector) is regulated and supervised.
A Guide to the Making of Federal Acts and Regulations by Canada. Department of Justice. Legislative Services Branch,Canada. Legislation and House Planning Secretariat Pdf
Acts and regulations are among a government's most powerful tools for fulfilling its democratic mandate. The steps involved in making them have evolved over centuries and reflect the attention and care required to ensure that they operate effectively and fairly. This guide provides a comprehensive description of how Acts are made at the federal level in Canada and answers questions about particular aspects of how they are made and the people involved. It also outlines the main steps involved in making federal regulations.
Stability of the Financial System by Andreas R. Dombret,Otto Lucius Pdf
ÔFinancial stability is necessary. To achieve this common target an on-going dialogue is required between industry, policymakers, academia and other relevant stakeholders. This book provides a welcome and refreshing perspective from different standpoints on the issues at stake, and reminds us of the remaining work ahead.Õ Ð Axel Weber, Chair of Supervisory Board, UBS ÔSince 2008, financial stability has moved to the center of the policy stage. This volume, combining contributions from leading policy makers and academics, is the essential introduction to the issues. Must reading.Õ Ð Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California, Berkeley, US ÔThere was a world BC (Before Crisis) and there will be a world AD (After Deleveraging) Ð the challenge is to create an effective, efficient yet stable and sustainable financial system for this Ònew worldÓ. This book provides the most comprehensive and thought-provoking basis for action I have seen so far.Õ Ð Paul Achleitner, Chair of Supervisory Board Deutsche Bank AG ÔFinancial stability is an overarching goal. In open and democratic societies, ensuring financial stability is a matter of interest not only to central bankers, academics and financial market players, but also to all well-informed citizens. This book provides an excellent basis for a wide-ranging and rewarding debate.Õ Ð Thomas J. Jordan, Chairman of the Governing Board of the Swiss National Bank ÔThe financial crisis demonstrated conclusively that for central bankers and other policymakers financial stability must always be of paramount concern, for without it the macroeconomy will perform badly and monetary policy will lose its effectiveness. This book underscores the importance of financial stability, laying out the key issues and what must be done to avoid such disasters in the future.Õ Ð William C. Dudley, President of the Federal Reserve Bank of New York, US In the aftermath of the financial crisis, new financial market regulation is being implemented, and increasing numbers of countries are establishing new legislation for macroprudential oversight. Against this backdrop, this thought provoking book provides a platform for the leading international experts to discuss and encourage future debate on financial stability. The breadth and scope of the issues addressed reflect the challenge of developing and consistently implementing a coherent set of financial reforms to promote financial stability. The book advocates the development of financial reforms that are effective in striking the optimal balance between realizing the enormous benefits of efficient financial intermediation, capital allocation and risk management on the one hand, and controlling systemic risks and maintaining financial stability on the other. Making an important contribution to deepening our understanding of the many facets of financial stability, this book will prove a challenging read for policy makers, regulators and central bankers as well as for researchers and scholars in the fields of economics, money, finance and banking.
