Financial Stability Frameworks and the Role of Central Banks

This paper sets out general principles for the design of financial stability frameworks, starting from an analysis of the objectives and tools of financial regulation. The paper then offers a comprehensive analysis of the costs and benefits of the two main models that have emerged for modern financial systems: the integrated model, with a single supervisor outside of the central bank, and the twin-peaks model, with a systemic risk regulator (central bank) on the one hand and a conduct of business regulator on the other. The paper concludes that the twin-peaks model may become more attractive w

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Year of publication:	2009
Authors:	Nier, Erlend
Publisher:	Washington : International Monetary Fund
Subject:	Bankenaufsicht \| Banking supervision \| Zentralbank \| Central bank \| Geldpolitik \| Monetary policy \| Finanzkrise \| Financial crisis

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Extent:	Online-Ressource (66 p)
Series:	IMF Working Papers IMF working paper ; WP/09/70
Type of publication:	Book / Working Paper
Language:	English
Notes:	Description based upon print version of record Contents; Executive Summary; I. The Role of Central Banks in Financial Stability-Lessons from the Crisis; A. Monetary Policy; B. Provision of Systemic Liquidity; C. Lender of Last Resort and Resolution of Failing Institutions; D. Oversight of Payment and Settlement Systems; II. Costs and Benefits of a Role of Central Banks in Financial Regulation; III. Recent Debates on Financial Stability Frameworks; IV. Financial Regulation-Objectives, Tools, Scope; A. Why Regulate Financial Institutions?; B. How to Regulate Financial Institutions?; C. Who Should be Regulated?; Boxes 1. Originate and Distribute and Systemic RiskV. Financial Regulation-Agency Structure; A. Principles; B. Comparison of Existing Structures; 2. Financial Stability Frameworks Across Countries; 3. Special Considerations for Government Sponsored Entities; 4. International Considerations; VI. Conclusions; References; Appendixes; I. Some Preliminary Empirical Analysis; Figures; 1. Developed Europe: Bank Losses; 2. Developed Europe: Overall Loss to Credit Ratio
ISBN:	978-1-4518-7217-0 ; 978-1-4519-1652-2 ; 978-1-4518-7217-0
Source:	ECONIS - Online Catalogue of the ZBW

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