SEACEN Financial Stability Journal Volume 3 2014

William M. Isaac, Simon Archer, Rifaat Ahmed Abdel Karim, Frank Packer, Jimmy Shek, Haibin Zhu and Herbert Poenisch

in SEACEN Financial Stability Journal from South East Asian Central Banks (SEACEN) Research and Training Centre

Abstract: This issue has four excellent articles - Dr. William (“Bill”) M. Isaac, former Chairman of the U.S. Federal Deposit Insurance Corporation, and now a top global banking industry consultant, has submitted a thought-provoking article on lessons learned from the 2008 banking crisis in the U.S. In his article, Chairman Isaac contends that, prior to the Crisis, bank supervisors had sufficient regulatory powers and tools to deal with developing problems and curb excessive risk-taking, but were reluctant to use them. Chairman Isaac also questions the value and relevance of the voluminous U.S. post-Crisis regulatory reform legislation, as he believes it does not closely relate to the root causes of the Crisis. An article by Professor Datuk Ahmed Abdel Karim and Professor Simon Archer discusses innovative liquidity management options that have been developed to assist Islamic banks in managing their liquidity and also in meeting the liquidity requirements of the new Basel III standards. Dr. Frank Packer from the Bank for International Settlements (BIS) and his co-authors Mr. Jimmy Shek, also with the BIS, and former BIS colleague Dr. Haibin Zhu, have provided a comprehensive analysis of bank loan loss provisioning practices in Asia during 2000-2013. They conclude that Asian banks have generally been conservative in their approaches and that countercyclical loan loss provisioning is a common practice. The fourth article by Dr. Herbert Poenisch, a former BIS Senior Economist and central bank researcher, discusses the need to develop better financial integration indicators for ASEAN banking and money markets. Greater clarity on interconnectivity risk will enable more detailed financial stability monitoring, an important capability in view of ongoing ASEAN integration initiatives.

Date: 2014
ISBN: 22896708
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