Is Supervision Keeping Pace with Innovation?&ast

Jaime Caruana ()
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Jaime Caruana: Governor Banco de España, C/Alcalá, 48, 28014 Madrid, Spain.

The Geneva Papers on Risk and Insurance - Issues and Practice, 2005, vol. 30, issue 1, 18 pages

Abstract: In this paper, the author argues that financial supervision is keeping up with the pace of innovation in the industry by virtue of what he calls a “virtuous circle”: the supervisory framework is aligning itself more and more with the best risk management practices, while at the same time encouraging further advances in those practices. In the long run, financial stability would benefit businesses, consumers and financial institutions. The Geneva Papers (2005) 30, 11–18. doi:10.1057/palgrave.gpp.2510022

Date: 2005
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