The Debate on Integrated Financial Supervision: What is New?

Edgardo Demaestri () and Gustavo Ferro
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Edgardo Demaestri: Interamerican Development Bank

Ensayos Económicos, 2015, vol. 1, issue 72, 27-58

Abstract: This article discusses the integrated financial supervision of different kinds of financial intermediaries. Systemic stability, non-sophisticated consumers protection and the efficiency enhancement have been advanced as explanations of prudential and conduct regulation. These are founded on financial markets failures, mainly because of asymmetric information. We debate pros and cons of integrating supervision, the role of the central bank in the financial supervision, and the more recent discussion in the aftermath of the 2008 financial crisis. We review and analyze the conceptual and empirical literature, and present the current consensus.

Keywords: central bank; financial system; regulation; supervision (search for similar items in EconPapers)
JEL-codes: G2 L5 (search for similar items in EconPapers)
Date: 2015
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