 The Role of the Financial Stability Institute of the Bank for International SettlementsJohn G. Heimann
Chapter 14 in Financial Intermediation in the 21st Century, 2001, pp 133-139 from Palgrave Macmillan Abstract: Abstract In 1998, turbulent and inadequately supervised financial systems threatened global instability. Since the height of that concern the G-7 has supported a number of actions to put in place disciplines to promote greater stability, and the worlds economic growth prospects are now substantially better. To some degree a sense of complacency has grown that should cause concern. We must not forget that the instability of 1998 saw the fastest growing economies in East Asia suffering contractions in output that were even greater than that experienced during the Great Depression of the 1930s; Russia going into default beneath its cloud of corruption; in the US, the mounting of one of the biggest ever emergency refinancings, not for a bank but for a hedge fund; free enterprise Hong Kong taking publicly owned stakes in all of its private companies; and Japan nationalising its banks. Keywords: Central Bank; Hedge Fund; Market Risk; Deposit Insurance; Banking Supervision (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-29412-7_14 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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