Chapter 3 Should a Central Bank Also Be a Banking Supervisor?
Author:
FRANCISCO JOSÉ DE SIQUEIRA
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Language:
English
Print Publication Date:
06 Nov 2008
Keywords:
SEM; central bank; certificate; fund; securities account; payment system; market stability; securities intermediary; TA activity; Securities; Hedge funds; Deposit insurance; Financial sector stability; Anti-money laundering and combating the financing of terrorism (AML/CFT); Global; Europe; North America; Sub-Saharan Africa; Central Asia; Western Europe

Abstract

This chapter examines the tension between ensuring a stable monetary system and supervising commercial banks, with specific focus on the Latin American experience. It addresses the key question of whether the banking supervisory function should be located within a central bank, whose first obligation is price stability, and presents the arguments both for and against separation of the functions.

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Cover Current Developments in Monetary and Financial Law, Vol. 5
Current Developments in Monetary and Financial Law, Vol. 5
ISBN:
9781589067738
Publication Date:
06 Nov 2008
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589067738.072
Pages:
668
Front Matter
I. Legal Developments in the IMF
II. Central Bank Law
III. Financial Stability : Overview
IV. Rationale for Regulation of Derivatives and Hedge Funds
V. Financial Disclosure, Liability of Supervisors, and Legal Risk in Financial Markets
VI. Anti-Money Laundering—Terrorist Financing and Financial Stability
VII. Governance, Deposit Insurance, and Market Discipline
VIII. Payments, Settlement, and Securities Infrastructure