06130oam 22011774 450 991078833800332120230721045659.01-4623-5577-31-4527-3998-61-4518-7217-897866128429171-282-84291-9(CKB)3170000000055234(EBL)1608235(SSID)ssj0000940814(PQKBManifestationID)11492019(PQKBTitleCode)TC0000940814(PQKBWorkID)10955830(PQKB)10888755(OCoLC)608248504(MiAaPQ)EBC1608235(IMF)WPIEE2009070(EXLCZ)99317000000005523420020129d2009 uf 0engur|n|---|||||txtccrFinancial Stability Frameworks and the Role of Central Banks : Lessons From the Crisis /Erlend NierWashington, D.C. :International Monetary Fund,2009.1 online resource (66 p.)IMF Working PapersDescription based upon print version of record.1-4519-1652-3 Includes bibliographical references.Contents; Executive Summary; I. The Role of Central Banks in Financial Stability-Lessons from the Crisis; A. Monetary Policy; B. Provision of Systemic Liquidity; C. Lender of Last Resort and Resolution of Failing Institutions; D. Oversight of Payment and Settlement Systems; II. Costs and Benefits of a Role of Central Banks in Financial Regulation; III. Recent Debates on Financial Stability Frameworks; IV. Financial Regulation-Objectives, Tools, Scope; A. Why Regulate Financial Institutions?; B. How to Regulate Financial Institutions?; C. Who Should be Regulated?; Boxes1. Originate and Distribute and Systemic RiskV. Financial Regulation-Agency Structure; A. Principles; B. Comparison of Existing Structures; 2. Financial Stability Frameworks Across Countries; 3. Special Considerations for Government Sponsored Entities; 4. International Considerations; VI. Conclusions; References; Appendixes; I. Some Preliminary Empirical Analysis; Figures; 1. Developed Europe: Bank Losses; 2. Developed Europe: Overall Loss to Credit RatioThis paper sets out general principles for the design of financial stability frameworks, starting from an analysis of the objectives and tools of financial regulation. The paper then offers a comprehensive analysis of the costs and benefits of the two main models that have emerged for modern financial systems: the integrated model, with a single supervisor outside of the central bank, and the twin-peaks model, with a systemic risk regulator (central bank) on the one hand and a conduct of business regulator on the other. The paper concludes that the twin-peaks model may become more attractive when regulatory structures are geared more explicitly towards the mitigation of systemic risk-including through the introduction of new macroprudential tools that could be used alongside monetary policy to contain macro-systemic risks; through enhanced regulation and special resolution regimes for systemically important institutions; and a more holistic approach to the oversight of clearing and settlement systems. Since the optimal solution may well be path-dependent and specific to the development of financial markets in any given country, a number of hybrid models are also discussed.IMF Working Papers; Working Paper ;No. 2009/070Economic stabilizationBanks and banking, CentralBanks and BankingimfFinance: GeneralimfFinancial Risk ManagementimfGeneral Financial Markets: Government Policy and RegulationimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfCentral Banks and Their PoliciesimfFinancial Institutions and Services: Government Policy and RegulationimfFinancial CrisesimfBankingimfFinanceimfEconomic & financial crises & disastersimfSystemic riskimfFinancial sector stabilityimfCentral bank mandateimfSpecial resolution regimeimfFinancial sector policy and analysisimfCentral banksimfFinancial crisesimfBanks and bankingimfFinancial risk managementimfFinancial services industryimfCrisis managementimfUnited StatesimfEconomic stabilization.Banks and banking, Central.Banks and BankingFinance: GeneralFinancial Risk ManagementGeneral Financial Markets: Government Policy and RegulationBanksDepository InstitutionsMicro Finance InstitutionsMortgagesCentral Banks and Their PoliciesFinancial Institutions and Services: Government Policy and RegulationFinancial CrisesBankingFinanceEconomic & financial crises & disastersSystemic riskFinancial sector stabilityCentral bank mandateSpecial resolution regimeFinancial sector policy and analysisCentral banksFinancial crisesBanks and bankingFinancial risk managementFinancial services industryCrisis managementNier Erlend1467715DcWaIMFBOOK9910788338003321Financial Stability Frameworks and the Role of Central Banks3685585UNINA