Macroprudential regulatory policies [electronic resource] : the new road to financial stability? / edited by Stijn Claessens [and others].

Cover image for Macroprudential regulatory policies [electronic resource] : the new road to financial stability? / edited by Stijn Claessens [and others].

ISBN:

9789814360678

Title:

Macroprudential regulatory policies [electronic resource] : the new road to financial stability? / edited by Stijn Claessens [and others].

Author:

Annual International Banking Conference (13th : 2010 : Federal Reserve Bank of Chicago)

Conference Author:

Annual International Banking Conference (13th : 2010 : Federal Reserve Bank of Chicago)

Publication Information:

Physical Description:

1 online resource (xi, 408 pages) : illustrations.

Series:

World Scientific studies in international economics ; v. 17

General Note:

Papers, comments of discussants, and keynote addresses from the 13th annual International Banking Conference, sponsored by the Federal Reserve Bank of Chicago and the International Monetary Fund, held at the Federal Reserve Bank of Chicago on Sept. 23-24, 2010. The subject of the conference [was] Macroprudential regulatory policies: the new road to financial stability?

Contents:

Protecting the stability of global financial markets / Paul A. Volcker -- Global macropudential regulation / tommaso Padoa-Schioppa -- The challenge of taking macroprudential decisions : who will press which button(s)? / Jaime Caruana -- Macroprudential regulation and evolution : looking at the financial system through Darwin's glasses / Charles Taylor -- Lessons from American bank supervision from the nineteenth century to the Great Depression / Eugene N. White -- Cross-border coordination of macroprudential policies / Attila Csajbók and Júlia Király -- Macroprudential policy : central banking reconsidered / Jean-Pierre Landau -- Macroprudential policy and monetary policy : some lessons from the euro area / Domenico giannone [and others] -- Commentary on Macroprudential and other policies / E. Philip Davis -- Measuring systemic risk / viral V. Acharya -- Systemic risk in bankruptcy exceptions, natural candidates for liquidity charges / Enrico Perotti -- Working macroprudential tools / Jesús Saurina.

On the governance of macroprudential policies / Erlend W. Nier -- Some implications of systemic risk and the design of regulatory architecture / Marco Espinosa-Vega [and others] -- The last frontiers : protecting critical functions across borders / Eva H.G. Hüpkes -- Cross-border crisis management : can harmonization create harmony if the orchestra is dissonant? / Grégory Nguyen and Peter Praet -- Regulation and competition in EU banking : before, during, and after the crisis / André Sapir -- Cycle proof market discipline and macroprudential regulation / Luc Laeven -- Curbing risk on Wall Street / Oliver Hart and Luigi Zingales -- What role, if any, can market discipline play in supporting macroprudential policy? / María J. Nieto -- Macroprudential regulatory policies : the new road to financial stability / William R. White -- Beyond regulatory challenge : the new public policy paradigm / Tarisa Wataganase -- Challenges for macroprudential supervision / Randall Kroszner -- Macroprudential regulation, financial stability, and capital flows / José de Gregorio.

Local Note:

eBooks on EBSCOhost

Subject Term:

Banks and banking -- State supervision -- Congresses.

Financial institutions -- State supervision -- Congresses.

Macroeconomics -- Congresses.

Economic policy -- Congresses.

Added Author:

Claessens, Stijn.

Format:

Electronic Resources

Electronic Access:

Click here to view

Publication Date:

2012

Publication Information:

Available:*

Shelf Number	Material Type	Copy	Shelf Location	Status
332.1	1:E-BOOK	1	1:ONLINE	Searching... Unknown

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Summary

This book is a collection of papers presented in the conference held at the Federal Reserve Bank of Chicago in September 2010, that examines the role of macroprudential regulation in the financial industry. Shocked by the experience of the last few years, many argue that the more traditional microprudential regulatory tools are inadequate to create a safe and stable financial system. The microprudential paradigm relies on the presumption that the financial system as a whole can be made safe by ensuring individual financial institutions are made safe. This ignores interconnections and externalities, whereby the actions of one financial institution or events in financial markets can lead to spillover effects that adversely affect general market conditions, other financial institutions, and ultimately the economy as a whole. Instead, it is argued, there is a need for both microprudential approaches to regulate individual institutions and macroprudential approaches to manage the overall financial system risks.Conference participants discussed macroprudential regulation and related issues, including: What are the theoretical motivations for macroprudential regulation? How would it interact with other regulatory and macroeconomic policies, especially monetary policy? What would be the specific macroprudential tools? Who should have control over the macroprudential tools? How should a macroprudential regulator be structured? Where should it be housed? How can macroprudential policies be structured across national borders? What role, if any, can market discipline play in supporting macroprudential objectives?Concentrating on public policy issues, the conference featured keynote addresses by influential past and present public policy figures including: Paul Volcker, Chairman of the US President's Economic Recovery Advisory Board and former Chairman of the Federal Reserve System; Tommaso Padoa-Schioppa, Chairman, Promontory Financial Group Europe and Former Chairman of the Basel Committee on Banking Supervision; Jaime Caruana, General Manager of the Bank for International Settlements and Former Chairman of the Basel Committee on Banking Supervision; and Charles Taylor, Director of the Pew Charitable Trust Financial Reform Project and Former Executive Director of the Group of Thirty.