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Author | : Xavier Freixas |
Publisher | : MIT Press |
Total Pages | : 487 |
Release | : 2015-06-19 |
Genre | : Business & Economics |
ISBN | : 0262028697 |
Download Systemic Risk, Crises, and Macroprudential Regulation Book in PDF, ePub and Kindle
A framework for macroprudential regulation that defines systemic risk and macroprudential policy, describes macroprudential tools, and surveys the effectiveness of existing macroprudential regulation. The recent financial crisis has shattered all standard approaches to banking regulation. Regulators now recognize that banking regulation cannot be simply based on individual financial institutions' risks. Instead, systemic risk and macroprudential regulation have come to the forefront of the new regulatory paradigm. Yet our knowledge of these two core aspects of regulation is still limited and fragmented. This book offers a framework for understanding the reasons for the regulatory shift from a microprudential to a macroprudential approach to financial regulation. It defines systemic risk and macroprudential policy, cutting through the generalized confusion as to their meaning; contrasts macroprudential to microprudential approaches; discusses the interaction of macroprudential policy with macroeconomic policy (monetary policy in particular); and describes macroprudential tools and experiences with macroprudential regulation around the world. The book also considers the remaining challenges for establishing effective macroprudential policy and broader issues in regulatory reform. These include the optimal size and structure of the financial system, the multiplicity of regulatory bodies in the United States, the supervision of cross-border financial institutions, and the need for international cooperation on macroprudential policies.
Author | : Xavier Freixas |
Publisher | : MIT Press |
Total Pages | : 487 |
Release | : 2023-08-22 |
Genre | : Business & Economics |
ISBN | : 0262549018 |
Download Systemic Risk, Crises, and Macroprudential Regulation Book in PDF, ePub and Kindle
A framework for macroprudential regulation that defines systemic risk and macroprudential policy, describes macroprudential tools, and surveys the effectiveness of existing macroprudential regulation. The recent financial crisis has shattered all standard approaches to banking regulation. Regulators now recognize that banking regulation cannot be simply based on individual financial institutions' risks. Instead, systemic risk and macroprudential regulation have come to the forefront of the new regulatory paradigm. Yet our knowledge of these two core aspects of regulation is still limited and fragmented. This book offers a framework for understanding the reasons for the regulatory shift from a microprudential to a macroprudential approach to financial regulation. It defines systemic risk and macroprudential policy, cutting through the generalized confusion as to their meaning; contrasts macroprudential to microprudential approaches; discusses the interaction of macroprudential policy with macroeconomic policy (monetary policy in particular); and describes macroprudential tools and experiences with macroprudential regulation around the world. The book also considers the remaining challenges for establishing effective macroprudential policy and broader issues in regulatory reform. These include the optimal size and structure of the financial system, the multiplicity of regulatory bodies in the United States, the supervision of cross-border financial institutions, and the need for international cooperation on macroprudential policies.
Author | : Xavier Freixas |
Publisher | : |
Total Pages | : 472 |
Release | : 2015 |
Genre | : Business & Economics |
ISBN | : 9780262328609 |
Download Systemic Risk, Crises, and Macroprudential Regulation Book in PDF, ePub and Kindle
The recent financial crisis has shattered all standard approaches to banking regulation. Regulators now recognize that banking regulation cannot be simply based on individual financial institutions' risks. Instead, systemic risk and macroprudential regulation have come to the forefront of the new regulatory paradigm. Yet our knowledge of these two core aspects of regulation is still limited and fragmented. This book offers a framework for understanding the reasons for the regulatory shift from a microprudential to a macroprudential approach to financial regulation. It defines systemic risk and macroprudential policy, cutting through the generalized confusion as to their meaning; contrasts macroprudential to microprudential approaches; discusses the interaction of macroprudential policy with macroeconomic policy (monetary policy in particular); and describes macroprudential tools and experiences with macroprudential regulation around the world.The book also considers the remaining challenges for establishing effective macroprudential policy and broader issues in regulatory reform. These include the optimal size and structure of the financial system, the multiplicity of regulatory bodies in the United States, the supervision of cross-border financial institutions, and the need for international cooperation on macroprudential policies.
Author | : Rabi N. Mishra |
Publisher | : Sage Publications Pvt. Limited |
Total Pages | : 508 |
Release | : 2019-08-15 |
Genre | : |
ISBN | : 9789353289126 |
Download Systemic Risk and Macroprudential Regulations Book in PDF, ePub and Kindle
Emphasizes 'systemic risk' as the new-found villain of the financial space and how macroprudential tools can aid in risk management
Author | : Douglas W. Arner |
Publisher | : Cigi Press |
Total Pages | : 0 |
Release | : 2019 |
Genre | : Economic policy |
ISBN | : 9781928096887 |
Download Systemic Risk in the Financial Sector Book in PDF, ePub and Kindle
The 2008 global financial crisis brought the world's economy closer to collapse than ever before. Has enough been done to prevent another crisis?
Author | : Rabi N. Mishra |
Publisher | : |
Total Pages | : 457 |
Release | : 2019 |
Genre | : Financial crises |
ISBN | : 9789353287696 |
Download Systemic Risk and Macroprudential Regulations Book in PDF, ePub and Kindle
The Global Financial Crisis is undoubtedly the most severe financial crisis the world witnessed since the Great Depression of 1929. The crisis has been analysed by a number of experts offering distinct narratives and counter-narratives. Systemic Risk and Macroprudential Regulations examines causes and consequences of the global financial crisis and proposes a regulatory reforms policy macroprudential regulations. The book emphasizes 'systemic risk' as the new-found villain of the financial space and narrates how such risk can be addressed through macroprudential tools. It, thus, offers a possible solution to avoid financial crises in future and facilitates building a safer financial system globally. The book also examines major crisis management frameworks, stress testing, relevant regulatory and supervisory development, and early warning mechanism with detailed cross-country analysis.
Author | : Kreis Yvonne |
Publisher | : World Scientific |
Total Pages | : 196 |
Release | : 2019-06-04 |
Genre | : Business & Economics |
ISBN | : 9811201072 |
Download Systemic Risk: History, Measurement And Regulation Book in PDF, ePub and Kindle
Systemic Risk: History, Measurement and Regulation presents an overview of this emerging form of risk from a global perspective. Systemic risks endanger entire financial systems, not just individual financial institutions. In this volume, the authors review how systemic risk has evolved over the last 40 years across continents to come to the forefront of regulatory attention. They then discuss transmissions channels, provide a review of systemic risk measures, and describe new regulations that have been introduced, as well as the theory and practice of financial stability committees that have been set up internationally. Overall, the book provides a practical guide to understand, identify, assess and control systemic risk.While the financial research on systemic risk has strongly increased since the events of 2008, this book is a first in providing a detailed yet concise overview of the topic, covering the history of systemic risk, its measurement, and its regulation. The authors provide both academic and practitioner-oriented insights, and draw on their different regions of expertise to provide a global perspective on systemic risk.
Author | : Douglas W. Arner |
Publisher | : McGill-Queen's Press - MQUP |
Total Pages | : 301 |
Release | : 2019-10-02 |
Genre | : Political Science |
ISBN | : 1928096913 |
Download Systemic Risk in the Financial Sector Book in PDF, ePub and Kindle
In late 2008, the world's financial system was teetering on the brink of systemic collapse. While the impacts of the global financial crisis would be felt immediately, at every level of the economy, it would also send years-long aftershocks through investment, banking and regulatory circles worldwide. More than a decade after the worst year of the global financial crisis, what has been learned from its harsh lessons? Are governments and regulators more prepared for another financial system failure that would significantly affect the real economy? What may be the potential triggers for such a collapse to occur in the future? Systemic Risk in the Financial Sector: Ten Years after the Great Crash draws on some of the world's leading experts on financial stability and regulation to examine and critique the progress made since 2008 in addressing systemic risk. The book covers topics such as central banks and macroprudential policies; fintech; regulators' perspectives from the United States and the European Union; the logistical and incentive challenges that impede standardization and collection; clearing houses and systemic risk; optimal resolution and bail-in tools; and bank leverage, welfare and regulation. Drawing on experts across disciplines — including Howell Jackson, John Geanakoplos, Charles Goodhart, Anat Admati, Roberta Romano and Martin Hellwig — Systemic Risk in the Financial Sector is the definitive guide to understanding the global financial crisis, the safeguards being put into place to try to avoid similar crises in the future, and the limitations of those safeguards.
Author | : International Monetary Fund. Monetary and Capital Markets Department |
Publisher | : International Monetary Fund |
Total Pages | : 60 |
Release | : 2011-03-14 |
Genre | : Business & Economics |
ISBN | : 1498339166 |
Download Macroprudential Policy - An Organizing Framework Book in PDF, ePub and Kindle
Macroprudential policy is a complement to microprudential policy and it interacts with other types of public policy that have an impact on systemic financial stability. Indeed, prudential regulation, as carried out in the past, also had some macroprudential aspects, and the recent crisis has reinforced this focus; hence, a clear separation between “micro” and “macro” prudential, if useful conceptually, is difficult to delineate in practice. Moreover, no matter how different policy mandates are structured, financial stability tends to be a common responsibility, reflecting the far reaching consequences of financial crises. This calls for coordination across policies, to ensure that systemic risk is comprehensively addressed. Equally important, macroprudential policy is no substitute for sound policies more broadly, including, in particular, strong prudential regulation and supervision, and sound macroeconomic policies. Operational independence in other policy areas, including monetary and microprudential policy, should not be undermined in the name of macroprudential policy. Finally, given the global nature of the financial system, the multilateral aspects of macroprudential policy will need to be fully considered—an important aspect that is only touched upon in this paper.
Author | : Franklin Allen |
Publisher | : Springer |
Total Pages | : 352 |
Release | : 2016-04-30 |
Genre | : Business & Economics |
ISBN | : 1137034254 |
Download The Global Macro Economy and Finance Book in PDF, ePub and Kindle
This volume explores the measurement of economic and social progress in our societies, and proposes new frameworks to integrate economic dimensions with other aspects of human well-being. Leading economists analyse the light that the recent crisis has shed on the global economic architecture, and the policies needed to address these systemic risks.