lacked an adequate legal framework for bank resolution. Policy measures adopted after the 1997 - 1998 systemic crisis …, supported by a newly established comprehensive framework for bank resolution, were more decisive. Banking sector problems were … rapidly, and deplete bank capital. If the authorities do not address the banking sector problem promptly, then the crisis will …

The failure to spot emerging systemic risk and prevent the current global financial crisis warrants a reexamination of …

basic approaches adopted by the Asian countries affected by financial crises in 1997 - 1998 to bank and corporate …

A key lesson of the 2007 - 2009 global financial crisis (GFC) was the importance of containing systemic financial risk … and the need for a "macroprudential" approach to surveillance and regulation that can identify system-wide risks and take …, the consistency of a financial stability objective with the more traditional and well-established central bank objective …

mediating role for regional-level institutions of financial regulation between national regulators in Asia and global … financial sector surveillance and regulation to promote regional financial stability; and (iii) cooperating with global … Asia in regional financial cooperation and regulation and draws lessons for Asia. The EU represents the most advanced stage …

by financial market liberalization including market-determined interest rates, and by effective financial regulation and … supervision - which in turn would call for greater exchange rate flexibility so that the People's Bank of China (PBOC) can enjoy … could expose PRC financial markets to the risk of crisis. The paper also emphasizes the importance of institutional reforms …