Prudential Control: Private Rule in the Regulation of Global Finance

Christian Chavagneux

Revue d'Économie Financière, 2000, vol. 60, issue 5, 47-58

Abstract: [eng] The rules established by the Basel Committee on Banking Supervision do not seem to provide the condition for a safe international financial system. After the creation of an international public rule, the Cooke ratio, in the 1980s, financial supervisors have left to the private sector the authority to write the new regulatory standards of the 1990s. The new rules ended up with a weaker quality of risk supervision. In spite of that result, the Basel Committee is now following the same logic in credit risk operations. Paradoxically, this contribute to make international finance a zone of international ungovernance. . JEL Classifications : G28

Date: 2000
Note: DOI:10.3406/ecofi.2000.4504
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