The regulatory response to the financial crisis |
| |
Institution: | The London School of Economics, Houghton St, London WC2A 2AE, UK;Financial Markets Group, Room 414, London School of Economics, Houghton Street, London WC2A 2AE, United Kingdom |
| |
Abstract: | There are numerous aspects concerning financial regulation which the current financial turmoil has high-lighted. These include: (1) the form of deposit insurance; (2) bank solvency regimes, ‘prompt corrective action’; (3) Central Banks’ money market operations; (4) commercial bank liquidity risk management; (5) procyclicality of CARs (and mark-to-market); lack of counter-cyclical instruments; (5) boundaries of regulation, conduits, SIVs and reputational risk; (6) crisis management: (a) within countries, e.g. UK Tripartite Committee; or (b) cross-border, how to allocate the burden of cross-border defaults? This paper describes how the crisis exposed regulatory failings, drawing largely on UK experience, and suggests remedies. |
| |
Keywords: | |
本文献已被 ScienceDirect 等数据库收录! |
|