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Author: Douglas Elliott
Publisher: International Monetary Fund
ISBN: 1475511973
Category : Business & Economics
Languages : en
Pages : 83
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Book Description
This study assesses the overall impact on credit of the financial regulatory reforms in Europe, Japan, and the United States. Long-term cost estimates are provided for Basel III capital and liquidity requirements, derivatives reforms, and higher taxes and fees. Overall, average lending rates in the base case would rise by 18 bps in Europe, 8 bps in Japan, and 28 bps in the United States. These results are similar to the official BIS assessments of Basel III and an OECD analysis, but lower as a result of including expense cuts and reductions in the returns required by investors. As a result, they are markedly lower than those of the IIF.
Author: Douglas Elliott
Publisher: International Monetary Fund
ISBN: 1475511973
Category : Business & Economics
Languages : en
Pages : 83
Get Book Here
Book Description
This study assesses the overall impact on credit of the financial regulatory reforms in Europe, Japan, and the United States. Long-term cost estimates are provided for Basel III capital and liquidity requirements, derivatives reforms, and higher taxes and fees. Overall, average lending rates in the base case would rise by 18 bps in Europe, 8 bps in Japan, and 28 bps in the United States. These results are similar to the official BIS assessments of Basel III and an OECD analysis, but lower as a result of including expense cuts and reductions in the returns required by investors. As a result, they are markedly lower than those of the IIF.
Author: Mr.Andre Santos
Publisher: International Monetary Fund
ISBN: 147551008X
Category : Business & Economics
Languages : en
Pages : 43
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Book Description
Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.
Author: André Nijsen
Publisher: Springer Science & Business Media
ISBN: 0387776788
Category : Law
Languages : en
Pages : 361
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Book Description
For years, businesses have complained about the costs of regulatory compliance. On the other hand, society is becoming increasingly aware of the environmental, safety, health, financial, and other risks of business activity. Government oversight seems to be one of the answers to safeguard against these risks. But how can we deregulate and regulate without jeopardizing our public goals or acting as a brake on economic growth? Many instruments are available to assess the effects of laws regulating business, including the regulatory impact assessment (RIA), which contains cost/benefit analysis, cost-effectiveness analysis, risk analysis, and cost assessments. This book argues that public goals will be achieved more effectively if compliance costs of the enterprises are as low as possible. Highlighting examples from a wide spectrum of industries and countries, the authors propose a new kind of RIA, the business impact assessment (BIA), designed to improve both business and public policy decision making.
Author: Great Britain. Treasury
Publisher: The Stationery Office
ISBN: 9780101787420
Category : Business & Economics
Languages : en
Pages : 76
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Book Description
This document outlines the Government's programme of reform to renew the UK's system of financial regulation. It believes that weaknesses were inherent in the tripartite approach whereby three authorities - the Bank of England, the Financial Services Authority and the Treasury - were collectively responsible for financial stability. The Government will create a new Financial Policy Committee (FPC) in the Bank of England with primary statutory duty to maintain financial stability. The FPC will be given control of macro-prudential tools to ensure that systemic risks to financial stability are dealt with. This macro-prudential regulation must be co-ordinated with the prudential regulation of individual firms. Operational responsibility for prudential regulation will transfer from the FSA to a new subsidiary of the Bank of England, the Prudential Regulation Authority. The third development is the creation of a dedicated Consumer Protection and Markets Authority (CPMA) with a primary statutory responsibility to promote confidence in financial services and markets. Protection of consumers will be delivered though a strong consumer division within CPMA. The document also covers: the issue of market regulation; co-ordination of the regulatory bodies in a potential crisis; the next steps, including public consultation, legislative passage and operational implementation. The Government will, after considering responses, produce more detailed proposals - including draft legislation - for further consultation in early 2011, with a view to having legislation on the statute book within two years.
Author: Markus Konrad Brunnermeier
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Gene L. Dodaro
Publisher: DIANE Publishing
ISBN: 1437912990
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
Author: World Bank
Publisher: World Bank Publications
ISBN: 9780821364321
Category : Business & Economics
Languages : en
Pages : 494
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Book Description
The experience of many countries around the world clearly shows that while financial sector development can spur economic growth, financial fragility and instability can seriously harm growth. Following the financial crises of the late 1990s, there has been increasing interest in the systematic assessment of the strengths and weaknesses of financial systems, with the ultimate goal of formulating appropriate policies to foster financial stability, and stimulate financial sector development. Consequently, there has been an increased demand from financial sector authorities in many countries, as well as from the Bank and International Monetary Fund (IMF) staff for information on key issues, and sound practices in the assessment of financial systems, and in the design of policy responses. This Handbook of Financial Sector Assessment is a response to this demand. The Handbook presents an overall analytical framework for assessing financial system stability and developmental needs, providing broad guidance on approaches, methodologies, and techniques of assessing financial systems. Although the Handbook draws substantially on Bank and IMF experience with the financial sector assessment programs (FSAPs), and from the broader policy and operational work in both institutions, it is designed for generic use in financial sector assessments, whether conducted by country authorities themselves, or by Bank and IMF teams. It is, therefore, hoped the Handbook will serve as an authoritative source on the objectives, analytical framework, and methodologies of financial sector assessments, as well as a comprehensive reference book for training on the techniques of such assessments.
Author: Martín Molinuevo
Publisher: World Bank Publications
ISBN: 146480057X
Category : Business & Economics
Languages : en
Pages : 127
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Book Description
Regulatory Assessment Toolkit: A Practical Methodology for Assessing Regulation on Services Trade and Investment provides guidance on how to assess and reform the regulatory policies of service trade industries. The toolkit can help government officials evaluate whether their regulatory framework addresses market failures, achieves public interest goals in an efficient manner, and promotes the development of an efficient domestic services market. Depending on the circumstances and the needs of the authorities, the toolkit can serve different purposes, including supporting regulatory reform, improving regulatory governance, negotiating and implementing trade agreements, and streamlining regulations to attract foreign investment. The Regulatory Assessment Toolkit will be of particular interest to policy makers and government officials from regulatory bodies, experts at development banks and donor agencies, and academics and researchers in the field of economic regulation. Services are famously (and indeed on occasions literally) where the rubber of trade meets the road of a country's domestic economic conditions. Domestic regulation of services has a significant impact on the vibrancy of trade in services and simultaneously in trade in goods, since services such as telecommunications, transport, financial, and energy are inputs to the manufacturing process. Not surprisingly, domestic regulation of services faces steep technical, institutional, and political challenges, which are frequently not obvious either to the casual observer looking in from the outside or to the sectoral specialist steeped in the nitty gritty. That is why the Regulatory Assessment Toolkit is such a useful resource: It offers a sturdy framework for structured, unbiased, and exhaustive analysis of specific regulatory setups that will surely help put the diagnosis of regulatory challenges and the discussion of reform measures to improve efficiency on a sound basis. Efficiency of services, both domestic and imported, is key to an economy’s overall competitiveness and to consumer welfare, both in developed and developing countries. The Regulatory Assessment Toolkit, together with similar initiatives, is a great tool to help direct and push much-needed reform in these sectors. SPAN style="float:right" — Eduardo Pérez Motta, AGON Law and Economics, former WTO Ambassador of Mexico, former Chairman of the International Competition Network (ICN) and former Chairman of the Federal Competition Commission of Mexico /span Services account for the largest share of economic activity in all countries and are a key determinant of trade competitiveness. This toolkit provides practical guidance for analysts seeking to document and assess the trade impacts of services policy regimes, as well as useful advice on alternative regulatory approaches that do not distort trade. SPAN style="float:right" —Bernard Hoekman, Robert Schuman Centre for Advanced Studies, European University Institute /span Services trade and investment flows are facilitated and constrained by a wide range of regulations–at the border and behind the border. Despite the growing importance of services in the world economy, understanding these different regulatory instruments and their impact on services flows remains very limited. There is limited awareness of what constitute best practices in services regulations, or about the institutional frameworks and regulatory architecture needed to promote the competitiveness of the services sector as well as the wider economy and to address larger public policy objectives. This book is most timely in that it not only fills these gaps in the existing literature on the globalization of services but also links this analysis to concrete policy inputs in the form of a toolkit. Academics, researchers, trade negotiators, and developing country policy officials will find this a most handy reference. SPAN style="float:right" —Rupa Chanda, Professor of Economics, Indian Institute of Management Bangalore, India /span
Author: Orice M. Williams
Publisher: DIANE Publishing
ISBN: 1437912966
Category : Business & Economics
Languages : en
Pages : 107
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Book Description
The U.S. and other countries are in the midst of the worst financial crisis in more than 75 years. While much of the attention of policymakers has been focused on taking short-term steps to address the immediate nature of the crisis, these events have served to strikingly demonstrate that the current U.S. financial regulatory system is in need of significant reform. This report: (1) describes the origins of the current financial regulatory system; (2) describes various market developments and changes that have created challenges for the current system; and (3) presents an evaluation framework that can be used to shape potential regulatory reform efforts. An important and thorough review of the issues related to regulatory reform. Charts and tables.
Author: John A. Tatom
Publisher: Springer Science & Business Media
ISBN: 1441966374
Category : Business & Economics
Languages : en
Pages : 243
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Book Description
What role should regulation play in financial markets? What have been the ramifications of financial regulation? To answer these and other questions regarding the efficacy of legislation on financial markets, this book examines the impact of the Gramm Leach Bliley Act (GLBA), also called the Financial Modernization Act of 1999, which fundamentally changed the financial landscape in the United States. The GLBA allows the formation of financial holding companies that can offer an integrated set of commercial banking, securities and insurance products. The tenth anniversary of the most sweeping financial legislation reform in the industry’s structure is a natural benchmark for assessing the effects of the law and for questioning whether changes are necessary in the working of this historic legislation. The importance of this review is reinforced by a variety of proposals in the last several years to reform the regulation of financial institutions that have attracted considerable attention among regulators and in the financial firms that they regulate. Most recently, the financial crisis and the failure of some large financial institutions have called into question the legitimacy of America’s current financial structure and its regulation, including to some degree the GLBA. There is no doubt that regulatory reform is front and center on today’s policy agenda. The lessons of the GLBA experience and its effects, both domestic and international, on financial markets and competitiveness, risk-taking and risk management by financial services firms and their regulators will be critical to the direction the country takes and the effort to ensure that future financial crises do not occur or have less costly damage. With contributions from academics, policy experts, and a sponsor of the GLBA, Congressman James Leach, this book is invaluable to anyone interested in financial system reform.
