Building a More Resilient Financial Sector : Reforms in the Wake of the Global Crisis
- Aditya Narain, Inci Ötker, Ceyla Pazarbasioglu
- INTERNATIONAL MONETARY FUND
- Published Date:
- April 2012
The IMF, with the Bank for International Settlements and the Financial Stability Board, has been at the forefront of discussions on reform of the global financial system to reduce the possibility of future crises, as well as to limit the consequences if they do occur. The policy choices are both urgent and challenging, and are complicated by the relationship between sovereign debt and risks to the banking sector. Building a More Resilient Financial Sector describes the key elements of the reform agenda, including tighter regulation and more effective supervision; greater transparency to strengthen market discipline and limit incentives for risk taking; coherent mechanisms for resolution of failed institutions; and effective safety nets to limit the impact on the financial system of institutions viewed as "too big to fail." Finally, the book takes a look ahead at how the financial system is likely to be shaped by the efforts of policymakers and the private sector response.
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Building a More Resilient Financial Sector
- Chapter 1: From Crisis to a New Financial Architecture: Taking Stock and Looking Forward
- Chapter 2: Shaping the New Financial System
- Chapter 3: Impact of Regulatory Reforms on Large and Complex Financial Institutions
- Chapter 4: The Perimeter of Financial Regulation
- Chapter 5: The Making of Good Supervision: Learning to Say “No”
- Chapter 6: Resolution of Cross-Border Banks: A Proposed Framework for Enhanced Coordination
- Chapter 7: The Too-Important-to-Fail Conundrum: Impossible to Ignore and Difficult to Resolve
- Chapter 8: Contingent Capital: Economic Rationale and Design Features
- Chapter 9: Recovery and Resolution Plans (Living Wills): A Solution to the TITF Problem?
- Chapter 10: Making Banks Safer: Can Volcker and Vickers Do It?1
- Chapter 11: Subsidiaries or Branches: Does One Size Fit All?
- Chapter 12: Redesigning the Contours of the Future Financial System