This paper discusses how international financial institutions (IFIs) can deal with new global challenges. The paper highlights that surveillance is the primary responsibility of the IMF. To make it more effective, more attention should be paid to long-term, structural developments that, if left...

This paper examines the implications of the Fund accepting membership in the Financial Stability Board ('FSB'). The FSB Charter (the ?Charter?) explicitly contemplates the possibility of the Fund and the other international financial institutions becoming members but notes that ?the acceptance...

In light of the recent establishment of the Financial Stability Board (FSB) as an association under Swiss law, this paper proposes Fund membership in the new association. The FSB was formed in 2009 and the Fund's Executive Board approved the Fund's membership in 2010, which has provided the Fund...

This paper discusses systematic issues in international finance explained in the International Capital Markets report. The paper describes that the nature and extent of recent banking problems in several industrial countries along with the policy responses to those problems. It is observed that...

This paper analyzes the origins of the recent turbulence in government bond markets in the major industrial countries, and considers whether the role of hedge funds in that episode argues for altering present regulatory arrangements. In financial markets, it is possible for such a revision of...

This paper assesses recent trends in international capital markets. It reviews, in particular, the forces currently reshaping the markets of industrial countries and confronting financial institutions with major challenges. For the international capital markets, 1988 was generally a year of...