Structural Reform of Financial Regulation in Canada PDF Download
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Author: Eric J. Pan
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 47
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Book Description
Author: Eric J. Pan
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 47
Get Book Here
Book Description
Author: Eric J. Pan
Publisher:
ISBN:
Category :
Languages : en
Pages : 66
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Book Description
This paper was first prepared to assist the Expert Panel on Securities Regulation in Canada in making recommendations to the Canadian Minister of Finance and the provincial and territorial ministers concerning reform of Canada's securities regulatory system. This paper and the panel's recommendations were made public by the Ministry of Finance on January 12, 2009. While the paper focuses on Canada, the analysis it contains is directly relevant to regulatory reform efforts in the United States and other jurisdictions. This paper breaks down the basic elements of an optimal financial regulatory system, identifying key regulatory objectives and systemic characteristics, relevant regulatory strategies, and optimal organizational approaches. The paper then compares the regulatory systems of Canada, the United Kingdom, Australia, the United States, France, Germany, Hong Kong, Japan, and The Netherlands to identify common themes and draw lessons for Canada's regulatory reform project. The paper concludes with a series of proposals for Canada. Among its recommendations, the paper advocates the application of objectives-based regulation and consolidation of regulatory authority in the hands of the national government. The paper also discusses the importance of (i) coordination and information sharing among regulatory agencies - noting that the achievement of such coordination and information sharing is more important than the structural question of a single regulator versus twin peaks system - (ii) active participation by the national regulator in multilateral and bilateral negotiations with foreign regulators, and (iii) additional resources for enforcement and supervision. Regulatory reform along the lines recommended in this paper should improve the attractiveness of the Canadian markets in the eyes of global financial institutions as well as enhance the effectiveness of the regulatory system in ensuring the safety and soundness of its markets.
Author: Rohinton P. Medhora
Publisher: McGill-Queen's Press - MQUP
ISBN: 1928096018
Category : Political Science
Languages : en
Pages : 268
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Book Description
The financial crisis that erupted in 2008 severely affected the global economy, plunging most countries into a recession with aftershocks still being felt today. Canada was able to weather the crisis well in comparison to many euro-zone countries and the United States, but it did not escape unscathed. Two major themes are explored in this volume: Canada’s role in the international financial system and the Canadian policy response to the global financial crisis. These themes are examined in light of the shift from the classical gold standard to Bretton Woods to the “non-system” of late, the finance-trade crossover agenda, the changing role of central banks, the European Monetary Union, developing countries and a post-financial crisis global political economy. What becomes clear in this volume is that Canada plays a powerful role, which belies its size, in the development of the financial system and its regulation at an international level. Crisis and Reform: Canada and the International Financial System — the 28th volume of the influential Canada Among Nations series — examines the global financial crisis through Canada’s historical and current role in the international financial system. Canada has been held up as a shining example of good governance during the financial crisis, and its prominent role within international financial institutions should grow as Canada continues as a leading player in the global financial system.
Author: Garry J. Schinasi
Publisher:
ISBN:
Category : Banking law
Languages : en
Pages : 48
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Book Description
Author: Canada. Library of Parliament. Research Branch
Publisher:
ISBN: 9780660146126
Category : Financial institutions
Languages : en
Pages : 21
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Book Description
Author: Eric J. Pan
Publisher:
ISBN:
Category :
Languages : en
Pages : 52
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Book Description
Author: Basil Zafiriou
Publisher:
ISBN:
Category : Banking law
Languages : en
Pages : 28
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Book Description
Topics examined in this document include: the role of financial institutions, and the rationale for regulation; the regulatory structure; proposals for reform; white paper proposals; parliamentary action; and a chronology highlighting significant events related to this matter.
Author: Ouarda Merrouche
Publisher: International Monetary Fund
ISBN: 1455254878
Category : Business & Economics
Languages : en
Pages : 38
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Book Description
Using a multi-country panel of banks, we study whether better capitalized banks experienced higher stock returns during the financial crisis. We differentiate among various types of capital ratios: the Basel risk-adjusted ratio; the leverage ratio; the Tier I and Tier II ratios; and the tangible equity ratio. We find several results: (i) before the crisis, differences in capital did not have much impact on stock returns; (ii) during the crisis, a stronger capital position was associated with better stock market performance, most markedly for larger banks; (iii) the relationship between stock returns and capital is stronger when capital is measured by the leverage ratio rather than the risk-adjusted capital ratio; (iv) higher quality forms of capital, such as Tier 1 capital and tangible common equity, were more relevant.
Author: Poonam Puri
Publisher:
ISBN:
Category :
Languages : en
Pages : 27
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Book Description
In the years following the financial crisis, there has been increased scrutiny of financial institutions as economic and social actors. The crisis highlighted the dual issues of access to financial services and the structural and behavioural regulation of banks and countries have introduced various prudential, governance and access-based reforms. This article addresses eight specific issues spanning three main areas of reform. The three areas of reform are: the availability and provision of financial services; behavioural reforms designed to discourage excessive risk-taking and promote sound corporate governance practices in financial institutions; and prudential reforms designed to reduce risk in financial institutions. The eight specific issues are: (1) access to retail banking services in Canada; (2) access to short-term credit and payday lending; (3) the Equator Principles for project finance; (4) whistle-blower protection and self- regulation by audit committees; (5) corporate governance strategies for effective risk management; (6) executive compensation and say-on-pay; (7) the regulation of proprietary trading by insured depository institutions; and (8) central clearing of over-the-counter derivatives. Topics 1-3 relate to the first of the three broad areas of reform identified above; topics 4-6 relate to the second area of reform; and topics 7-8 relate to the third.
Author: Canada. Department of Finance
Publisher:
ISBN:
Category : Banking law
Languages : en
Pages : 52
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Book Description
