By Kern Alexander
Ebook used to be stated to be "new"...far from it..a torn web page and used..also my associates ordered an identical booklet from one other vendor and it received to them inside of a week..it took over a month to get my copy..seller will be banned!
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The booklet makes an attempt to provide a finished description and testable idea of the advanced, yet no longer unintelligible approach of bank-firm relationships within the dynamic setting of a steadily deregulated monetary industry. It presents either concept and empirical facts that shut bank-firm relationships result in a decrease fraction of financial institution finance.
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Extra info for Global Governance of Financial Systems: The International Regulation of Systemic Risk
States act as rational agents in using IFIs to solve the collective action problem. The IFIs have become the main instrument through which states act to reduce the occurrence of ﬁnancial crises. They perform this function by serving as focal points for states in exchanging information about other states’s preferences, intentions, and motivations. This leads to increased cooperation and coordination among national regulators in developing international standards and rules to promote the efﬁcient pricing of ﬁnancial risk.
Therefore, a more effective international regime is needed to devise international standards and to monitor their implementation and enforcement. The establishment of international ﬁnancial bodies and their efforts to set international standards and improve national regulatory regimes are responses to the growing problem of how to regulate risk taking in ﬁnancial markets. The globalization of ﬁnancial markets has resulted in increased integration of ﬁnancial systems, especially in the banking sector, where ﬁnancial conglomerates play a signiﬁcant role in facilitating crossborder capital ﬂows and in spreading risk across borders.
11 As banking becomes more international and deregulated, national regulatory authorities remain the prime supervisors monitoring crossborder banking activities. Expanded and diversiﬁed international banking operations require adherence to a common core of supervisory and regulatory standards recognized by the world’s major ﬁnancial regulators. These core international standards require effective international supervision to reduce systemic risk. Moreover, the institutional framework of international ﬁnancial regulation has not kept pace with globalized ﬁnancial markets.
Global Governance of Financial Systems: The International Regulation of Systemic Risk by Kern Alexander