Chapter 4 Understanding Financial Stability: Towards a Practical Framework
Author:
Mr. Garry J. Schinasi
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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; economic system; asset market turbulence; market volatility; market discipline; market-disciplining mechanism; Financial stability assessment; Systemic risk; Financial sector risk

Abstract

Safeguarding financial stability is now widely recognized as an important part of maintaining macroeconomic and monetary stability and a key to the achievement of sustainable growth. Central banks in many advanced countries, as well as the International Monetary Fund, devote considerable resources to monitoring and assessing financial stability and to publishing financial stability reports. A casual reading of these publications would suggest that financial stability practitioners share some common understandings. To cite a few, it is more or less taken for granted that:

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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