Regulating Systemic Risk

Masahiro Kawai () and Michael Pomerleano

Chapter 10 in The International Financial Crisis:Have the Rules of Finance Changed?, 2011, pp 127-153 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:IntroductionImportance of Crisis PreventionPolicy mistakes behind the global financial crisisFlaws in financial regulation and supervisionFailure of monetary policy to contain financial imbalancesWeak global financial architecturePrinciples of crisis containmentMacroeconomic and financial surveillance and macroprudential supervisionSystemic Stability Regulation — PrinciplesClear objectives and mandates of a systemic stability regulatorSufficient regulatory resources to fulfill responsibilitiesEffective implementation by the systemic stability regulatorEffective organization of a systemic stability regulatorAlternative Models of Systemic Stability RegulationGlobal practices of central banks in financial stabilityReform proposals in the U.S., the U.K., and the European UnionU.S. stability reform planU.K. stability reform planEuropean Union reformsAlternative modelsConclusionsReferences

Keywords: Financial Crisis; Financial Regulation; International Banking; Financial Regulatory Reform (search for similar items in EconPapers)
Date: 2011
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Working Paper: Regulating Systemic Risk (2010)
Working Paper: Regulating Systemic Risk (2010)
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