Financial Stability and Central Banks

Financial Stability and Central Banks

ISBN-10:
041525776X
ISBN-13:
9780415257763
Pub. Date:
05/28/2001
Publisher:
Taylor & Francis

Paperback

View All Available Formats & Editions
Current price is , Original price is $73.95. You
Select a Purchase Option (New Edition)
  • purchase options
    $73.95
  • purchase options

Overview

Financial Stability and Central Banks

An overview of present day thought on the very topical subject of financial stability and central banking. The papers, written by leading researchers, provide a highly informed account of contemporary policy issues and explore the legal, regulatory, managerial and economic issues that affect central banks.

Product Details

ISBN-13: 9780415257763
Publisher: Taylor & Francis
Publication date: 05/28/2001
Series: CENTRAL BANK GOVERNOR'S SYMPOSIUM Series , #3
Edition description: New Edition
Pages: 288
Product dimensions: 6.25(w) x 9.25(h) x 0.70(d)

Table of Contents

List of Chartsx
List of Tablesxi
Contributorsxii
Forewordxiii
Acknowledgementsxvi
1Financial stability and central banks: an introduction1
1.1Background1
1.2Summary of the volume2
1.3Twelve questions about financial stability7
1.4Financial crises and the morbidity of banks8
1.5Competition and safety9
1.6The links between financial stability policy and monetary policy13
1.7Bakers and firefighters15
1.8Conclusions17
2Financial stability and the central bank: international evidence19
2.1Introduction19
2.2The evolution of responsibilities20
2.3The current spectrum of central bank financial stability activities24
2.4Monetary policy independence and central bank responsibility for prudential regulation and supervision--conflict or synergy?67
2.5Key issues in establishing an effective regulatory institutional structure74
2.6Conclusions75
3The organisational structure of banking supervision79
3.1Introduction79
3.2Arguments for separation83
3.3Arguments for unification91
3.4Are the issues the same in emerging countries?96
3.5Conclusions101
4Alternative approaches to regulation and corporate governance in financial firms107
4.1Introduction and issues107
4.2The experience of banking crises111
4.3The regulatory regime112
4.4Components of a regulatory regime114
4.5Differentiations in the regime136
4.6Shifts within the regulatory regime138
4.7Assessment142
5Bank capital requirements and the control of bank failure144
5.1Introduction144
5.2Causes and consequences of banking crises146
5.3Capital requirements149
5.4Bank risk and capital requirements150
5.5The cost of bank capital requirements155
5.6Asset valuation158
5.7Conclusions160
6Crisis management, lender of last resort and the changing nature of the banking industry166
6.1Introduction166
6.2Justification for central bank involvement in financial crises166
6.3Crisis prevention - the financial safety net167
6.4Lender of penultimate resort - private sector solutions168
6.5Lender of last resort (LOLR)170
6.6Terms and conditions for LOLR174
6.7Crisis management, consolidation and the changing nature of the banking industry177
6.8Conclusion180
Annex 1Case study - UK small bank crisis 1991-2182
Annex 2Case study - Barings, February 1995184
7International capital movements and the international dimension to financial crises187
7.1Introduction187
7.2Capital movements across the exchanges: curse or blessing?187
7.3Financial crises and capital movements198
7.4Capital controls in practice208
7.5Concluding remarks219
8Some concluding comments221
Appendix 1Minutes of the Bank of England's 7th Central Bank Governors' Symposium (2 June 2000)225
Appendix 2Central Bank Governors' Symposium participants232
References237
Index252

Customer Reviews

Most Helpful Customer Reviews

See All Customer Reviews