Modernizing Financial Regulation: Implications for Bank Supervision |
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Authors: | Eric S. Rosengren |
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Affiliation: | (1) Federal Reserve Bank of Boston, Massachusetts |
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Abstract: | Reducing payments and settlement risk should be pursued where economically possible, but will not obviate the need for bank supervision. Governments regulate the banking sector because they are the intermediaries that transform short-term liabilities into long-term loans. Bank supervision needs to be supplemented with improved disclosure, greater market discipline, and in many countries, increased, not decreased, supervisory resources. |
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Keywords: | disclosure bank supervision |
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