IV. Rationale for Regulation of Derivatives and Hedge Funds
Author:
International Monetary Fund
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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

In recent decades, countries around the world have liberalized the interest rate and portfolio restrictions that had been adopted during the Great Depression and immediately following World War II, and moved instead to rely more on a system of prudential regulation and supervision. Gradually, however, bank supervision has grown more intrusive and discretionary. In the United States, hardly a bastion of a socialist approach to government intervention, about two dozen supervisors report to work daily in their offices—at Citibank. And surveys of bankers recently reveal that the cost of regulatory compliance for the first time is their most important concern.

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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
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