The focus of the present volume - which originates from a workshop held at the Bank of Italy on 16 and 17 April 2009 - is the regulatory response given to financial crises in the past, across countries. Alongside the scholarly interest of such a review its aim is also to offer some insights that...

Economic and financial measures studied for the past century are not suitable for the current scenario. If the market is now global, the regulation cannot be locally oriented. Moreover, rules have to bring value, principles and ethics into the economic world. In that way the Government, banks...

The article examines the determinants of capital-assets ratios for credit unions in the United States, before and after the implementation of current framework for capital adequacy regulation in the year 2000. Credit unions appear to hold capital in excess of what is required by current capital...

Causes of the current financial crisis are heterogeneous and a complete analysis of the event must consider different profiles, like the limits of the supervisory model, the choice in the definition of the capital requirements and the role of the rating agencies. The unpredictability of the...

The current crisis asks to Italian banks to reflect on their perspectives, in order to understand if present strengths could become constraints in the future. Capital adequacy, revenues opportunities, cost savings must be reinforced. A more strict relationship between banks and local communities...

The proposal of the Eu Commission to introduce an optional taxation for financial and insurance services is aimed at restoring the neutrality of Vat regarding the outsourcing choices of the intermediaries and at mitigating double taxation effects. Such a proposal would also allow to reduce...

Even if financial innovation contributed to the instability of the financial system, it plays a social role in the economy on the basis of the following principles: the inter-temporal transfer of money value, the capability to construct contracts based on future results and the tradability of...

This paper aims to stress the importance of market liquidity for the stability of the financial system, emphasizing the pivotal role played by liquidity risk in the development of the current financial crisis, pointing out the flaws of regulation and supervision and stressing the need for their...

This study brings out policy lessons for China today, a financially repressed country, from the financial liberalization process in Denmakr, Finland, Norway and Sweden in the 1980s and early 1990s. This report identifies a set of policy lessons for China today from the experience of financial...

In recent years, financial institutions and their supervisors have placed increased emphasis on the importance of consolidated risk management. Consolidated risk management, also referred to as integrated or enterprise-wide risk management, can have many specific meanings, but in general it...