Financial Stability Frameworks And The Role Of Central Banks Lessons From The Crisis
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Financial Stability Frameworks And The Role Of Central Banks Lessons From The Crisis
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Author : Erlend Nier
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2009-04-01
Financial Stability Frameworks And The Role Of Central Banks Lessons From The Crisis written by Erlend Nier and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-04-01 with categories.
This paper sets out general principles for the design of financial stability frameworks, starting from an analysis of the objectives and tools of financial regulation. The paper then offers a comprehensive analysis of the costs and benefits of the two main models that have emerged for modern financial systems: the integrated model, with a single supervisor outside of the central bank, and the twin-peaks model, with a systemic risk regulator (central bank) on the one hand and a conduct of business regulator on the other. The paper concludes that the twin-peaks model may become more attractive when regulatory structures are geared more explicitly towards the mitigation of systemic risk-including through the introduction of new macroprudential tools that could be used alongside monetary policy to contain macro-systemic risks; through enhanced regulation and special resolution regimes for systemically important institutions; and a more holistic approach to the oversight of clearing and settlement systems. Since the optimal solution may well be path-dependent and specific to the development of financial markets in any given country, a number of hybrid models are also discussed.
The Role Of Central Banks In Financial Stability
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Author : Douglas Darrell Evanoff
language : en
Publisher: World Scientific
Release Date : 2014
The Role Of Central Banks In Financial Stability written by Douglas Darrell Evanoff and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Business & Economics categories.
The two most topical issues in current financial markets deal with the causes of the recent financial crisis and the means to prevent future crises. This book addresses the latter and stresses a major shift in most countries toward a better understanding of financial stability and how it can be achieved. In particular, the papers in this volume examine the recent change in emphasis at central banks with regard to financial stability. For example: What were the cross-country differences in emphasis on financial stability in the past Did these differences appear to affect the extent of the adverse impact of the financial crisis on individual countries What are perceived to be the major future threats to financial stability These and related issues are discussed in the book by well-known experts in the field OCo some of the best minds in the world pursuing financial stability. Following the global financial crisis, significant reforms have been initiated in many countries to address financial stability more directly, frequently focusing on macroprudential policy frameworks in which central banks play a more active role."
Central Banking Lessons From The Crisis
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2010-07-07
Central Banking Lessons From The Crisis written by International Monetary Fund. Strategy, Policy, & Review Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-07 with Business & Economics categories.
The broader governance reform debate—which goes beyond quotas to issues such as engagement by high-level policymakers, Fund management selection, Board structure, rules and accountability—has not got very far in garnering a consensus at the Executive Board. This is the case even though, in political circles, including the IMFC, and in civil society, expectations are high that the institution will tackle reforms key to its long-term effectiveness and legitimacy. The impasse reflects many factors. Partly it is a matter of not being convinced that governance is nearly as important as quota shares, partly of disagreement over the specifics of various proposals, and partly of concern that the conflation of quotas with governance—the “package approach”—risks delaying the pivotal quota rebalancing exercise, scheduled to be completed before January 2011. This paper lays out the main governance issues, while putting forward variants of reform proposals that might command broader support. It takes as given that, even if quota reform has its own logic and deadline, this does not preclude parallel consideration of—and possibly decisions on—governance reforms, which can help make the case to domestic and international audiences that a broader reform of the Fund is underway.
Central Banks And Supervisory Architecture In Europe
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Author : Holzmann, Robert
language : en
Publisher: Edward Elgar Publishing
Release Date : 2022-10-07
Central Banks And Supervisory Architecture In Europe written by Holzmann, Robert and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-10-07 with Business & Economics categories.
COVID-19 and other recent crises have proved the need to review the state-of-play and implement robust institutional frameworks in the complex, heterogenous and decentralised European financial supervisory architecture, this insightful book outlines what can be done to innovate the current set-up in the face of pressing issues like climate change, BigTech and crypto assets.
Responsibility Of Central Banks For Stability In Financial Markets
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Author : Mr.Garry J. Schinasi
language : en
Publisher: International Monetary Fund
Release Date : 2003-06-01
Responsibility Of Central Banks For Stability In Financial Markets written by Mr.Garry J. Schinasi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-06-01 with Business & Economics categories.
What is the role of central banks in ensuring financial stability? This paper addresses this controversial subject, in part by drawing on the experiences in Europe, Japan, and the United States, and by examining four questions. What is meant by financial stability? Do central banks have a natural role in ensuring financial stability? What does a central bank need to execute this role effectively? How far have central banks actually gone in safeguarding financial stability? The experience drawn on in the paper suggest that central banks: have a natural role to play; at times may require supervisory information to execute this natural role; and have incurred risks to their balance sheets to ensure financial stability.
Procyclicality In Central Bank Reserve Management
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Author : Jukka Pihlman
language : en
Publisher: International Monetary Fund
Release Date : 2010-06-01
Procyclicality In Central Bank Reserve Management written by Jukka Pihlman and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-06-01 with Business & Economics categories.
A decade-long diversification of official reserves into riskier investments came to an abrupt end at the beginning of the global financial crisis, when many central bank reserve managers started to withdraw their deposits from the banking sector in an apparent flight to quality and safety. We estimate that reserve managers pulled around US$500 billion of deposits and other investments from the banking sector. Although clearly not the main cause, this procyclical investment behavior is likely to have contributed to the funding problems of the banking sector, which required offsetting measures by other central banks such as the Federal Reserve and Eurosystem central banks. The behavior highlights a potential conflict between the reserve management and financial stability mandates of central banks. This paper analyzes reserve managers’ actions during the crisis and draws some lessons for strategic asset allocation of reserves going forward.
Financial Stability And Central Banks
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Author : Richard Brearley
language : en
Publisher: Routledge
Release Date : 2001-04-26
Financial Stability And Central Banks written by Richard Brearley and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-04-26 with Business & Economics categories.
This book offers an overview of present day thought on the very topical subject of financial stability and central banking.
Collateral Frameworks
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Author : Kjell G. Nyborg
language : en
Publisher: Cambridge University Press
Release Date : 2016-12-15
Collateral Frameworks written by Kjell G. Nyborg and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-12-15 with Business & Economics categories.
Central bank collateral frameworks are an often overlooked feature of monetary policy that play a key role in the monetary and financial system. Readers will discover how central banks conduct and implement monetary policy beyond merely setting interest rates, and develop their understanding as to how collateral policies may affect financial markets, financial stability, and the real economy. This book studies the collateral framework in the euro area in detail, and levers this analysis to provide an account of the euro crisis from the perspective of collateral policy. Readers gain access to a wealth of institutional and economic data and information with a level of density and accessibility unavailable elsewhere. This book, the first of its kind, is a valuable read for academic monetary and financial economists, those working in banking and policy-making financial institutions, and anyone who wishes to learn more about the role of central banks in society.
The Role Of Central Banks In Financial Stability
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Author : Douglas Darrell Evanoff
language : en
Publisher:
Release Date : 2014
The Role Of Central Banks In Financial Stability written by Douglas Darrell Evanoff and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Banks and banking, Central categories.
The two most topical issues in current financial markets deal with the causes of the recent financial crisis and the means to prevent future crises. This book addresses the latter and stresses a major shift in most countries toward a better understanding of financial stability and how it can be achieved. In particular, the papers in this volume examine the recent change in emphasis at central banks with regard to financial stability. For example: What were the cross-country differences in emphasis on financial stability in the past? Did these differences appear to affect the extent of the adverse impact of the financial crisis on individual countries? What are perceived to be the major future threats to financial stability? These and related issues are discussed in the book by well-known experts in the field - some of the best minds in the world pursuing financial stability. Following the global financial crisis, significant reforms have been initiated in many countries to address financial stability more directly, frequently focusing on macroprudential policy frameworks in which central banks play a more active role.
Central Banks At A Crossroads
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Author : Michael D. Bordo
language : en
Publisher: Cambridge University Press
Release Date : 2016-06-09
Central Banks At A Crossroads written by Michael D. Bordo and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-06-09 with Business & Economics categories.
This book discusses the role of central banks and draws lessons from examining their evolution over the past two centuries.