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Mr. Timothy Geithner

Abstract

The choices we make in advance of the next financial crisis will have a major impact in determining the magnitude of the economic damage. Our vulnerability to crisis depends on the strength of the protections we build into the financial system through prudential regulation, as well as on the degrees of freedom we create for ourselves to respond to the unanticipated, and the knowledge and experience we bring in managing crises. Is the financial system safer today? With the reforms now in place and with the memory of the crisis still fresh, how confident should we feel about the resilience of the financial system and our ability to protect the US economy from a major financial crisis? Warburg Pincus President and former US Secretary of the Treasury Timothy Geithner attempts to answer these questions in his October 2016 Per Jacobsson Lecture.

International Monetary Fund. Independent Evaluation Office

Abstract

This Independent Evaluation Office (IEO) Annual Report 2012 presents an overview of overall developments in FY2012. In FY2012, the IEO expended approximately 97 percent of its total budgetary resources, including the approved budget amount and the resources carried forward from FY2011 as authorized. Vacancies amounted to about one and one-half staff years over the course of the financial year. This level of vacancies is within the range of what could be expected in a small organization with structural difficulties in recruitment and retention.

International Monetary Fund

Abstract

This paper presents the functional responsibilities of a central bank which is required to maintain systemic financial stability without having supervisory oversight of individual financial institutions. Although the Financial Services Authority (FSA) has responsibility for supervising individual financial institutions, the central bank retains responsibility for the smooth running of the domestic payments system and, by extension, oversight of the structure and soundness of the clearing and settlement systems of the main financial markets, money and bond markets, the foreign exchange market, and the equity market. A second, associated function, thrown into prominence by 9/11, is to undertake contingency planning against a major physical disruption of markets, whether by terrorism or natural causes. A third role, perhaps the best-known component in this portfolio of operational tasks, is to provide injections of liquidity, either to the financial system as a whole via open market operations or via lender-of-last-resort (LOLR) actions to individual institutions. A problem with such latter LOLR operations is that they might put taxpayers’ money at risk.

Mr. T. M. C. Asser

Abstract

This book analyzes and compares the laws of selected industrial countries that are representative of the different approaches to the treatment of banks in distress. It addresses only those banking and economic policy issues that are required for a proper understanding of the banking law or the legal strategies, procedures, and practices that have evolved in the treatment of banking problems. The book does not cover international aspects of bank insolvency, but rather has a domestic focus, given that bank regulation and supervision are still largely a national endeavor.

Abstract

Banking sector problems have affected many IMF member countries, and measures to remedy these problems as well as to prevent their recurrence deeply concern central bankers and policymakers. the papers and comments published in this volume and edited by Charles Enoch and John H. Green were presented at the Seventh Seminar on Central Banking sponsored by the IMF. The topics discussed include banking soundness and the macroeconomy, prudential standards, the role of the central bank during problems of banking soundness, and bank restructuring.

Abstract

Edited by William Alexander, Jeffrey M. Davis, Liam P. Ebrill, and Carl-Johan Lindgren, this volume discusses cross-country restructuring experiences building on the foundation laid by its predecessor Band Soundness and Macroeconomic Policy. It discusses broad principles and actions to guide policy makers in restructuring their banking systems.