Business and Economics > Finance: General
Abstract
Proceedings of a conference co-hosted by the Bank of Albania and the International Monetary Fund in May 2017.
Abstract
“Restoring Financial Stability-The Legal Response” is the theme of the sixth volume of “Current Developments in Monetary and Financial Law.” The book covers a range of issues: frameworks and regulatory reforms in the United States, European Union, and Japan that address systemic risk; the international dimension of financial stability; the regulation of complex financial products; cross-border banking supervision; capital adequacy; and corporate and household debt restructuring. The chapters are based on presentations from a seminar hosted by the IMF Legal Department, the Ministry of Finance of Japan, the Financial Services Agency of Japan, and the Bank of Japan, with the assistance of the IMF Institute. The contributors to the volume come from both the public and private sectors, and include academics, lawyers practicing in the fields of banking and financial law, and officials from central banks, supervisory and regulatory agencies, and standard-setting bodies.
Abstract
As the financial crisis abates, governments are faced with the challenge of balancing the withdrawal of fiscal support with reestablishing sound public finances and sustainable growth. This volume presents papers from an IMF-sponsored conference of senior policymakers, academics, and senior representatives of the private sector on unwinding public interventions initiated during the crisis. There was broad agreement that the main goal of any strategy for unwinding such interventions should be to create price stability, fiscal sustainability, and a new economic landscape that is much safer than currently exists. Different perspectives on the timing and sequence of the exit process are presented and some guiding principles for exit strategies are discussed. Policy objectives, unwinding public support to banks, and dealing with risky assets purchased by central banks are among topics discussed in detail. The volume also presents views on what the new financial landscape will look like.
Abstract
The Legal Department and the Institute of the IMF held their ninth biennial seminar for legal advisors of IMF member countries’ central banks, and the papers published in this volume are based on presentations made by officials attending this seminar. The seminar covered a broad range of topics, including sovereign debt restructuring, money laundering and the financing of terrorism, financial system and banking supervision, conflicts of interest and market discipline in the financial sector, insolvency, and other issues related to central banking.
Abstract
The main theme of Volume 5 in this series is law and financial stability. The chapters cover many topics that enhance the reader's understanding of financial stability, as well as the many instruments available to promote it. The contributors discuss and analyze a range of issues such as, competing responsibilities of central banks and the institutional responses to past episodes of instability; the reasons for and against regulating hedge funds and derivatives, and the methods available for doing so; and the contributions of deposit insurance schemes, payments systems and securities settlement systems towards achieving financial stability. The relationship between laws proscribing money laundering and the financing of terrorism and the goal of financial stability is also discussed. The chapters in this edited volume are based on presentations from the tenth biennial seminar for legal advisors of central banks and member countries organized by the Legal Department and Institute of the IMF. The chapter authors include scholars, lawyers, representatives from the private sector, as well as officials of the IMF, other international organizations, and central banks.
Abstract
This volume represents the latest developments and policy debate on a very current issue: the rapid growth of banking sector credit to the private sector, which continues to occupy the minds of academics and policymakers alike in many central and eastern European (CEE) countries. The papers, presented by the representatives of international organizations and monetary and supervisory authorities of a number of western and CEE countries, provide discussions on how to assess and respond to excessive credit growth. Case studies represent the challenges faced by policymakers in dealing with rapid credit growth, providing useful lessons for other countries experiencing a similar phenomenon. For more information on how to purchase a copy of this title, please visit http://www.palgrave.com/economics/imf/index.asp.
Abstract
The procyclicality of financial systems has received an increasing amount of attention from policymakers, academics, and international organizations in recent years. This heightened interest stems from a combination of the ongoing globalization of finance, the role of the financial sector in various emerging market crises in the late 1990s, and the potential impact on financial sectors of the upcoming implementation of the Basel II accord. Some degree of financial sector procyclicality is a characteristic of any normally functioning economy. At issue is whether the observed procyclicality is excessive. The challenge is to define "excessive" and to identify policy measures that could produce superior economic outcomes. This volume attempts to do so by collecting recent work on procyclicality in Asian financial systems. For more information on how to purchase a copy of this title, please visit http://www.palgrave.com/economics/imf/index.asp.
Abstract
The Legal Department and the Institute of the IMF held their eighth biennial seminar for legal advisers of central banks of member countries on May 7-17,2000. The papers presented in this volume are based on presentations made by the seminar participants. The seminar covered a broad range of topics, including activities of the IMF and other international financial institutions, sovereign debt restructuring, the architecture of the international financial system, and money laundering and the financing of terrorism. In addition, participants addressed the role of central banks, payment systems, securities, technology in the financial sector, and monetary arrangements.
Abstract
Inspired by the experience of some advanced economies and to enhance creditworthiness, recently a number of emerging market economies adopted rules limiting government deficits, expenditures, or indebtedness. This volume consists of 15 chapters—written by distinguished policy analysts and academics—that focus on the potential usefulness of fiscal rules for these economies, and highlight their brief experience with rules.
Abstract
Increasing global financial market integration is presenting new challenges to central banks as they seek to attain low inflation and financial stability. This volume is based on a conference hosted by the IMF in September 2002. It examines key issues such as the choice of nominal anchor for countries susceptible to shifts in capital flows, what can be done to prevent and deal decisively with financial crises, and how central bankers should think about the difficult choices when monetary objectives and financial stability objectives come into conflict.