Creating a Safer Financial System

Creating a Safer Financial System
Author: José Vinãls
Publisher: International Monetary Fund
Total Pages: 27
Release: 2013-05-14
Genre: Business & Economics
ISBN: 1484340949

The U.S., the U.K., and more recently, the E.U., have proposed policy measures directly targeting complexity and business structures of banks. Unlike other, price-based reforms (e.g., Basel 3 and G-SIFI surcharges), these proposals have been developed unilaterally with material differences in scope, design and implementation schedules. This may exacerbate cross-border regulatory arbitrage and put a further burden on consolidated supervision and cross-border resolution. This paper provides an analysis of the potential implications of implementing different structural policy measures. It proposes a pragmatic and coordinated approach to development of these policies to reduce risk of regulatory arbitrage and minimize unintended consequences. In doing so, it also aims to identify a set of common policy measures that countries could adopt to re-scope bank business models and corporate structures.

The Fundamental Principles of Financial Regulation

The Fundamental Principles of Financial Regulation
Author: Charles Albert Eric Goodhart
Publisher: Centre for Economic Policy Research
Total Pages: 144
Release: 2009
Genre: Business & Economics
ISBN:

Analytical background -- Nature of systemic risk -- Who should be regulated (by whom) -- Counter-cyclical regulation -- Regulation of liquidity and maturity mismatches -- Other regulatory issues -- The structure of regulation -- Conclusions -- Appendix : the boundary problem in financial regulation -- Discussion and roundtables.

The New International Financial System

The New International Financial System
Author: Douglas D. E. T. Al EVANOFF
Publisher: World Scientific
Total Pages: 611
Release: 2015-10-27
Genre: Business & Economics
ISBN: 9814678333

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.

Systemic Risk in the Financial Sector

Systemic Risk in the Financial Sector
Author: Douglas W. Arner
Publisher: Cigi Press
Total Pages: 0
Release: 2019
Genre: Economic policy
ISBN: 9781928096887

The 2008 global financial crisis brought the world's economy closer to collapse than ever before. Has enough been done to prevent another crisis?

A Safer World Financial System

A Safer World Financial System
Author: Stijn Claessens
Publisher: Centre for Economic Policy Research
Total Pages: 172
Release: 2010
Genre: Business & Economics
ISBN:

Most countries lack an effective framework for dealing with failing systemically important financial institutions (SIFIs). This report argues that any serious attempt to stabilize the global financial system must include carefully crafted policies for restructuring these "too big to fail" cross-border institutions. The report recommends approaches for resolving SIFIs in a way that will maintain national sovereignty, enhance international financial integration, and preserve financial stability. Copublished with the International Center for Monetary and Banking Studies (ICMB)

Engineering a Safer World

Engineering a Safer World
Author: Nancy G. Leveson
Publisher: MIT Press
Total Pages: 555
Release: 2012-01-13
Genre: Science
ISBN: 0262297302

A new approach to safety, based on systems thinking, that is more effective, less costly, and easier to use than current techniques. Engineering has experienced a technological revolution, but the basic engineering techniques applied in safety and reliability engineering, created in a simpler, analog world, have changed very little over the years. In this groundbreaking book, Nancy Leveson proposes a new approach to safety—more suited to today's complex, sociotechnical, software-intensive world—based on modern systems thinking and systems theory. Revisiting and updating ideas pioneered by 1950s aerospace engineers in their System Safety concept, and testing her new model extensively on real-world examples, Leveson has created a new approach to safety that is more effective, less expensive, and easier to use than current techniques. Arguing that traditional models of causality are inadequate, Leveson presents a new, extended model of causation (Systems-Theoretic Accident Model and Processes, or STAMP), then shows how the new model can be used to create techniques for system safety engineering, including accident analysis, hazard analysis, system design, safety in operations, and management of safety-critical systems. She applies the new techniques to real-world events including the friendly-fire loss of a U.S. Blackhawk helicopter in the first Gulf War; the Vioxx recall; the U.S. Navy SUBSAFE program; and the bacterial contamination of a public water supply in a Canadian town. Leveson's approach is relevant even beyond safety engineering, offering techniques for “reengineering” any large sociotechnical system to improve safety and manage risk.

Financial Crises, Liquidity, and the International Monetary System

Financial Crises, Liquidity, and the International Monetary System
Author: Jean Tirole
Publisher: Princeton University Press
Total Pages: 180
Release: 2002-07-21
Genre: Business & Economics
ISBN: 9780691099859

Tirole analyzes the current views on financial crises and on the reform of the international financial architecture. Based on the Paolo Baffi Lecture the author delivered at the Bank of Italy, this refreshingly accessible book is teeming with rich insights that researchers, policy makers, and students at all levels will find indispensable.

Geofinance between Political and Financial Geographies

Geofinance between Political and Financial Geographies
Author: Silvia Grandi
Publisher: Edward Elgar Publishing
Total Pages: 263
Release: 2019-12-27
Genre: Business & Economics
ISBN: 1789903858

This edited collection explores the boundaries between political and financial geographies, focusing on the linkages between the changing strategies, policies and institutions of the state. It also investigates banks and other financial institutions affected by both state policies and a globalizing financial system, and the financial resources available to firms as well as households. In so doing, the book highlights how an empirical focus on the semi-periphery of the financial system may generate new perspectives on the entanglement between (geo) politics and finance.

Comparing Financial Systems

Comparing Financial Systems
Author: Franklin Allen
Publisher: MIT Press
Total Pages: 524
Release: 2000
Genre: Business & Economics
ISBN: 9780262011778

Why do different countries have such different financial systems? Is one system better than the other? This text argues that the view that market-based systems are best is simplistic, and suggests that a more nuanced approach is necessary.

Uncontrolled Risk: Lessons of Lehman Brothers and How Systemic Risk Can Still Bring Down the World Financial System

Uncontrolled Risk: Lessons of Lehman Brothers and How Systemic Risk Can Still Bring Down the World Financial System
Author: Mark Williams
Publisher: McGraw Hill Professional
Total Pages: 257
Release: 2010-04-16
Genre: Business & Economics
ISBN: 0071749047

Why was Lehman ignored when everyone else was bailed out? A risk advisor for top financial institutions and top B-school professor, Mark Williams explains how uncontrolled risk toppled a 158-year-old institution, using this story as a microcosm to illuminate the interconnection of the global financial system, as well as broader policy implications. This story is told through the eyes of an experienced risk manager and educator in a detailed and engaging way and provides the reader with a complete summary of how a savvy company with sophisticated employees and systems could have gotten it so wrong.