The Regulatory Responses To The Global Financial Crisis

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The Regulatory Responses to the Global Financial Crisis

Author : Mr.Stijn Claessens,Ms.Laura E. Kodres
Publisher : International Monetary Fund
Page : 39 pages
File Size : 49,7 Mb
Release : 2014-03-14
Category : Business & Economics
ISBN : 9781484335970

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The Regulatory Responses to the Global Financial Crisis by Mr.Stijn Claessens,Ms.Laura E. Kodres Pdf

We identify current challenges for creating stable, yet efficient financial systems using lessons from recent and past crises. Reforms need to start from three tenets: adopting a system-wide perspective explicitly aimed at addressing market failures; understanding and incorporating into regulations agents’ incentives so as to align them better with societies’ goals; and acknowledging that risks of crises will always remain, in part due to (unknown) unknowns – be they tipping points, fault lines, or spillovers. Corresponding to these three tenets, specific areas for further reforms are identified. Policy makers need to resist, however, fine-tuning regulations: a “do not harm” approach is often preferable. And as risks will remain, crisis management needs to be made an integral part of system design, not relegated to improvisation after the fact.

Regulation and the Global Financial Crisis

Author : Daniel Cash,Robert Goddard
Publisher : Routledge
Page : 223 pages
File Size : 41,5 Mb
Release : 2020-11-24
Category : Law
ISBN : 9780429576539

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Regulation and the Global Financial Crisis by Daniel Cash,Robert Goddard Pdf

The Financial Crisis was a cross-sector crisis that fundamentally affected modern society. Regulation, as a concept, was both blamed for allowing the crisis to happen, but also tasked with developing and implementing solutions in the wake of the crash. In this book, a number of specialists from a range of fields have contributed their insights into the effect of the Financial Crisis upon the regulatory frameworks affecting their fields, how regulators have responded to the Crisis, and then what this may mean for the future of regulation within those industries. These analyses are joined by a picture of past financial crises – which reveals interesting patterns – and then analyses of architectural regulatory models that were fundamentally affected by the Crisis. The book aims to allow sector specialists the freedom to share their insights so that, potentially, a broader picture can be identified. Providing an interesting and thought-provoking account of this societally impactful era, this book will help the reader develop a more informed understanding of the potential future of financial regulation. The book will be of value to researchers, students, advanced level students, regulators, and policymakers.

From Crisis to Crisis

Author : Ross P. Buckley,Douglas W. Arner
Publisher : Kluwer Law International B.V.
Page : 362 pages
File Size : 49,7 Mb
Release : 2011-01-01
Category : Business & Economics
ISBN : 9789041133540

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From Crisis to Crisis by Ross P. Buckley,Douglas W. Arner Pdf

The global financial system has proven increasingly unstable and crisis-prone since the early 1980s. The system has failed to serve either creditors or debtors well. This has been reinforced by the global financial crisis of 2008, where we have seen systemic weaknesses bring rich countries to the brink of bankruptcy and visit appalling suffering on the poorest citizens of poor countries. Yet the regulatory responses to this crisis have involved little thinking from outside the box in which the crisis was delivered to the world. This book presents a powerful indictment of this regulatory failure and calls for greatly increased attention to international financial law and analyses new regulatory measures with the potential to make a new recognition of the principles that ought to underlie it. Using a historical approach that compares the various financial crises of the past three decades, the authors clearly show how misconceived economic policy responses have paved the way for each next 'crash'. Among the numerous topics that arise in the course of this revealing analysis are the following: overvalued exchange rates; excess liquidity in rich countries; premature liberalisation of local financial markets; capital controls; derivatives markets; accounting standards; credit ratings and the conflicts in the role of credit rating agencies; investor protection arrangements; insurance companies; and payment, clearing and settlement activities. The authors offer detailed commentary on: the role of multilateral development banks, the IMF and the WTO in responding to crises; the role of the Basel Accords, the Financial Stability Forum and Board, and the responses of the European Commission, the US, and the G20 to the most recent crisis. The book concludes by exploring systemic game-changing reforms such as bank levies, financial activities taxes and financial transaction taxes, and a global sovereign bankruptcy regime; as well as measures to remove the currency mismatches from the balance sheets of developing countries. Apart from its great usefulness as a detailed introduction to the international financial system and its regulation, the book is enormously valuable for its clear identification of the areas of regulatory failure, and its analysis of new regulatory approaches that offer the potential for a genuinely more stable system. Banking and investment policymakers at every level, the lawyers that serve these markets and the regulators that seek to regulate them, cannot afford to neglect this book.

The Regulatory Response to the Financial Crisis

Author : Charles Albert Eric Goodhart
Publisher : Edward Elgar Publishing
Page : 176 pages
File Size : 51,6 Mb
Release : 2009
Category : Business & Economics
ISBN : STANFORD:36105124186938

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The Regulatory Response to the Financial Crisis by Charles Albert Eric Goodhart Pdf

This text explains that there are two main attributes that a bank needs to remain in business during a period of turmoil, liquidity to enable it to pay its debts when due, and capital, to absorb losses - both have been insufficient.

The New International Financial System

Author : Douglas D. E. T. Al EVANOFF
Publisher : World Scientific
Page : 611 pages
File Size : 53,7 Mb
Release : 2015-10-27
Category : Business & Economics
ISBN : 9789814678339

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The New International Financial System by Douglas D. E. T. Al EVANOFF Pdf

Ever since the Great Recession, the global financial regulatory system has undergone significant changes. But have these changes been sufficient? Have they created a new problem of over-regulation? Is the system currently in a better position than in the pre-Recession years, or have we not adequately addressed the basic causes of the financial crisis and resulting Great Recession?These were the questions and issues addressed in the seventeenth annual international banking conference held at the Federal Reserve Bank of Chicago in November 2014. In collaboration with the Bank of England, the theme of the conference was to examine the state of the new global financial system as it has evolved in response to significant market changes and regulatory reforms triggered by the global financial crisis. The papers from that conference are collected in this volume, with contributions from an international array of government officials, regulators, industry practitioners and academics.

Global Finance in Crisis

Author : Eric Helleiner,Stefano Pagliari,Hubert Zimmermann
Publisher : Routledge
Page : 215 pages
File Size : 40,5 Mb
Release : 2010-01-21
Category : Business & Economics
ISBN : 9781135157623

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Global Finance in Crisis by Eric Helleiner,Stefano Pagliari,Hubert Zimmermann Pdf

Presents a systematic analysis of the international regulatory response to the global financial crisis. This volume examines the changes in international financial regulation from the vantage point of the key powers in global finance including the US, the EU, Japan, and China.

The Regulatory Aftermath of the Global Financial Crisis

Author : Eilís Ferran,Niamh Moloney,Jennifer G. Hill,John C. Coffee, Jr
Publisher : Cambridge University Press
Page : 128 pages
File Size : 46,8 Mb
Release : 2012-11-15
Category : Law
ISBN : 9781139851787

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The Regulatory Aftermath of the Global Financial Crisis by Eilís Ferran,Niamh Moloney,Jennifer G. Hill,John C. Coffee, Jr Pdf

The EU and the US responded to the global financial crisis by changing the rules for the functioning of financial services and markets and by establishing new oversight bodies. With the US Dodd–Frank Act and numerous EU regulations and directives now in place, this book provides a timely and thoughtful explanation of the key elements of the new regimes in both regions, of the political processes which shaped their content and of their practical impact. Insights from areas such as economics, political science and financial history elucidate the significance of the reforms. Australia's resilience during the financial crisis, which contrasted sharply with the severe problems that were experienced in the EU and the US, is also examined. The comparison between the performances of these major economies in a period of such extreme stress tells us much about the complex regulatory and economic ecosystems of which financial markets are a part.

Financial Innovation, Regulation and Crises in History

Author : Harold James
Publisher : Routledge
Page : 192 pages
File Size : 51,8 Mb
Release : 2015-10-06
Category : Business & Economics
ISBN : 9781317317654

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Financial Innovation, Regulation and Crises in History by Harold James Pdf

With contributions from world-renowned figures such as Niall Ferguson and Adair Turner, this volume investigates how financial institutions and markets have undergone or reacted to past pressures, and the regulatory responses that emerged as a result.

The Regulation and Supervision of Banks

Author : Chen Chen Hu
Publisher : Routledge
Page : 290 pages
File Size : 44,8 Mb
Release : 2018-04-17
Category : Business & Economics
ISBN : 9781351965712

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The Regulation and Supervision of Banks by Chen Chen Hu Pdf

Over the past two decades, the banking industry has expanded and consolidated at a stunningly unprecedented speed. In this time banks have also moved from focusing purely on commercial banking activities to being heavily involved in market-based and transaction-oriented wholesale and investment banking activities. By carrying out an all-encompassing set of activities, banks have become large, complex, interconnected, and inclined to levels of risk-taking not previously seen. With the onset of the 2008 global financial crisis it became apparent that there was an issue of institutions being too big to fail. This book analyses the too-big-to-fail problem of banks in the EU. It approaches the topic from an interdisciplinary perspective using behavioural finance as a tool to examine the occurrence of the global financial crisis and the emergence of the structural problem in large banking institutions. The book draws a comparison between the EU, the US and the UK and the relevant rules to assess the effectiveness of various approaches to regulation in a global context. Chen Chen Hu goes on to use behavioural analyses to provide new insights in evaluating the current structural reform rules in the EU Proposal on Bank Structural Regulation and the newly adopted bank recovery and resolution regime in the EU Bank Recovery and Resolution Directive and the Single Resolution Mechanism (SRM) in the Single Resolution Regulation.

Regulatory Failure and the Global Financial Crisis

Author : Mohamed Ariff,John Farrar,Ahmed M. Khalid
Publisher : Edward Elgar Publishing
Page : 257 pages
File Size : 45,7 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9780857935335

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Regulatory Failure and the Global Financial Crisis by Mohamed Ariff,John Farrar,Ahmed M. Khalid Pdf

This fascinating book presents a lively discussion of key issues resulting from the recent financial crisis. The expert contributors explore why the global financial crisis occurred, how it destroyed wealth, triggered mass unemployment and created an unprecedented loss of control on employment, monetary policy and government budgets. Important topics encompassing the origin and impact of the crisis, governance failure, regulatory forgiveness, credit splurges, asset bubbles and the greed of institutions are analysed from the wide-ranging perspectives of not only academics in both economics and law, but also industry practitioners and regulators. This multidimensional evaluation of what went wrong concludes with an outline of what is currently being done to prevent another major crisis, and prescribes recommendations for the implementation of further preventative measures. This book will prove a compelling read for economics, finance and law scholars, as well as for practitioners including accountants, lawyers and financial market players.

After the Crash

Author : Sharyn O'Halloran,Thomas Groll
Publisher : Columbia University Press
Page : 454 pages
File Size : 52,6 Mb
Release : 2019-10-08
Category : History
ISBN : 9780231549998

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After the Crash by Sharyn O'Halloran,Thomas Groll Pdf

The 2008 crash was the worst financial crisis and the most severe economic downturn since the Great Depression. It triggered a complete overhaul of the global regulatory environment, ushering in a stream of new rules and laws to combat the perceived weakness of the financial system. While the global economy came back from the brink, the continuing effects of the crisis include increasing economic inequality and political polarization. After the Crash is an innovative analysis of the crisis and its ongoing influence on the global regulatory, financial, and political landscape, with timely discussions of the key issues for our economic future. It brings together a range of experts and practitioners, including Joseph Stiglitz, a Nobel Prize winner; former congressman Barney Frank; former treasury secretary Jacob Lew; Paul Tucker, a former deputy governor of the Bank of England; and Steve Cutler, general counsel of JP Morgan Chase during the financial crisis. Each poses crucial questions: What were the origins of the crisis? How effective were international and domestic regulatory responses? Have we addressed the roots of the crisis through reform and regulation? Are our financial systems and the global economy better able to withstand another crash? After the Crash is vital reading as both a retrospective on the last crisis and an analysis of possible sources of the next one.

The 2008 Global Financial Crisis in Retrospect

Author : Robert Z. Aliber,Gylfi Zoega
Publisher : Springer
Page : 443 pages
File Size : 46,9 Mb
Release : 2019-06-01
Category : Business & Economics
ISBN : 9783030123956

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The 2008 Global Financial Crisis in Retrospect by Robert Z. Aliber,Gylfi Zoega Pdf

This book addresses the causes and consequences of the international financial crisis of 2008. A range of esteemed contributors explore developments in the United States, where the crisis of 2008 originated, as well as the smallest country affected, Iceland, by evaluating developments since 2008. Currently, many countries are facing similar problems as Iceland did in 2008: this book is of interest to economists and policy makers in these countries to study what happened in Iceland, and why the recovery of that economy was strong and swift. The chapters in this book originate from panel discussions and conferences and explore areas including regulation, state projects and inflation.

The Global Financial Crisis and the Regulatory Response

Author : Clare Chambers-Jones,Nicholas Ryder
Publisher : Unknown
Page : 128 pages
File Size : 49,8 Mb
Release : 2016-08-28
Category : Electronic
ISBN : 1409462242

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The Global Financial Crisis and the Regulatory Response by Clare Chambers-Jones,Nicholas Ryder Pdf

The Global Financial Crisis

Author : Dick K. Nanto
Publisher : DIANE Publishing
Page : 127 pages
File Size : 54,9 Mb
Release : 2009
Category : Business & Economics
ISBN : 9781437919844

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The Global Financial Crisis by Dick K. Nanto Pdf

Contents: (1) Recent Developments and Analysis; (2) The Global Financial Crisis and U.S. Interests: Policy; Four Phases of the Global Financial Crisis; (3) New Challenges and Policy in Managing Financial Risk; (4) Origins, Contagion, and Risk; (5) Effects on Emerging Markets: Latin America; Russia and the Financial Crisis; (6) Effects on Europe and The European Response: The ¿European Framework for Action¿; The British Rescue Plan; Collapse of Iceland¿s Banking Sector; (7) Impact on Asia and the Asian Response: Asian Reserves and Their Impact; National Responses; (8) International Policy Issues: Bretton Woods II; G-20 Meetings; The International Monetary Fund; Changes in U.S. Reg¿s. and Regulatory Structure; (9) Legislation.