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In nearly every major financial crisis of the past decade-from East Asia to Russia, Turkey, and Latin America-political interference in financial sector regulation helped make a bad situation worse. Political pressures not only weakened financial regulation, but also hindered regulators and supervisors from taking action against troubled banks. This paper investigates why, to fulfill their mandate to preserve financial sector stability, financial sector regulators and supervisors need to be independent-from the financial services industry as well as from the government-as well as accountable.

Banks and banking --- Banking law --- Banks and banking, Central --- Banker's banks --- Banks, Central --- Central banking --- Central banks --- Law, Banking --- Financial institutions --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Finance --- Money --- State supervision --- Law and legislation --- E-books --- Business & Economics --- Banks and Banking --- Financial Risk Management --- Industries: Financial Services --- Business and Financial --- Finance: General --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Financial Institutions and Services: General --- General Financial Markets: Government Policy and Regulation --- Central Banks and Their Policies --- Financial Crises --- Financial services law & regulation --- Economic & financial crises & disasters --- Financial sector --- Financial regulation and supervision --- Central bank autonomy --- Financial crises --- Economic sectors --- Financial sector stability --- Financial sector policy and analysis --- Financial services industry --- Korea, Republic of

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How is finance related to economic processes, and why should it be viewed as a public good requiring policy action? This book provides an answer. The book develops a practical framework for safeguarding financial stability, which encompasses both prevention and resolution of problems. It also examines on-going and future challenges to financial stability posed by globalization, a growing reliance on derivatives and their markets, and the capital market activities of insurers and reinsurers.

Banks and banking, Central --- Finance --- Risk --- 332 --- banken --- financiele markten --- imf --- Fc3.i --- 333.109 --- 333.432.8 --- 333.481 --- 333.602 --- AA / International- internationaal --- Economics --- Uncertainty --- Probabilities --- Profit --- Risk-return relationships --- Banker's banks --- Banks, Central --- Central banking --- Central banks --- Banks and banking --- Funding --- Funds --- Currency question --- banques --- marches financiers --- fmi --- Veiligheid. Bankovervallen. Bankrisico's --- Internationale monetaire organisatie. Internationaal Muntfonds. Algemene leningovereenkomsten --- Monetaire crisissen, hervormingen, saneringen en stabilisering --- Activiteiten en evolutie van de financiële markten --- Banks and banking, Central. --- Finance. --- Risk. --- International finance --- Finances --- Banques centrales --- Risque --- Banks and Banking --- Finance: General --- Macroeconomics --- Money and Monetary Policy --- Industries: Financial Services --- General Financial Markets: Government Policy and Regulation --- General Financial Markets: General (includes Measurement and Data) --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Financing Policy --- Financial Risk and Risk Management --- Capital and Ownership Structure --- Value of Firms --- Goodwill --- Monetary economics --- Financial services law & regulation --- Banking --- Economic & financial crises & disasters --- Financial sector stability --- Insurance companies --- Credit risk --- Credit --- Derivative markets --- Financial sector policy and analysis --- Financial institutions --- Money --- Financial regulation and supervision --- Financial markets --- Financial services industry --- Financial risk management --- Derivative securities --- United States

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Banking sector problems have plagued over 130 of the IMF's member countries since 1980. Developing and industrial market economies alike have been affected, as have all the economies in transition. This volume, by Carl-Johan Lindgren, Gillian Garcia, and Matthew I. Saal, discusses the linkages between macroeconomic policy and bank soundness. It takes a global view of the causes and consequences of banking sector problems and discussses how the banking system can be strengthened, nationally and internationally.

Private finance --- Economic policy and planning (general) --- Banks and banking. --- Banques --- 336.71 --- 338.22 --- 330.362 --- 336.748.8 IMF --- Banks and banking --- #ECO:02.02:financiële sector bank --- #ECO:01.01:economie algemeen --- AA / International- internationaal --- 333.100 --- 333.139.2 --- 333.130.2 --- 333.432.8 --- Financial institutions --- Economic policy --- Macroeconomics --- 332.1 --- Financial intermediaries --- Lending institutions --- Associations, institutions, etc. --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Finance --- Money --- Economics --- Economic nationalism --- Economic planning --- National planning --- State planning --- Planning --- National security --- Social policy --- Bankwezen --- Economische organisatieleer. Economisch beleid. Economische politiek --- macro economie - macro economisch evenwicht --- bankwezen - banken --- Internationaal Monetair Fonds - IMF --- Algemeenheden. Theorie en principes van de bankorganisatie en -techniek. --- Bankcontrole en -reglementering. Reglementering van het bankberoep. --- Bankliquiditeit. Verplichte reserves. Solvabiliteit. --- Internationale monetaire organisatie. Internationaal Muntfonds. Algemene leningovereenkomsten. --- 338.22 Economische organisatieleer. Economisch beleid. Economische politiek --- 336.71 Bankwezen --- Algemeenheden. Theorie en principes van de bankorganisatie en -techniek --- Bankliquiditeit. Verplichte reserves. Solvabiliteit --- Bankcontrole en -reglementering. Reglementering van het bankberoep --- Internationale monetaire organisatie. Internationaal Muntfonds. Algemene leningovereenkomsten --- Banks and Banking --- Finance: General --- Financial Risk Management --- Money and Monetary Policy --- Industries: Financial Services --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Financial Institutions and Services: Government Policy and Regulation --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- General Financial Markets: Government Policy and Regulation --- Foreign Exchange --- Financial Institutions and Services: General --- Bankruptcy --- Liquidation --- Financial services law & regulation --- Monetary economics --- Economic & financial crises & disasters --- Deposit insurance --- Capital adequacy requirements --- Nonperforming loans --- Credit --- Loans --- Bank soundness --- Financial sector policy and analysis --- State-owned banks --- Crisis management --- Asset requirements --- State supervision --- Financial services industry --- United States

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Since the mid-1990s, economic observers have kept a watchful eye on the financial sector because of its potential to spark economic crises. Banks in particular have come under close scrutiny. This book offers guidance on setting up regulatory and supervisory regimes that can help to prevent crises, and on dealing with turmoil, should a crisis erupt. It contains a collection of essays on a wide range of issues useful to bolstering the banking and financial sector.

Private finance --- Banks and banking --- Financial institutions --- Monetary policy --- Banques --- Institutions financières --- Politique monétaire --- Government policy --- State supervision --- Politique gouvernementale --- Contrôle de l'Etat --- International Monetary Fund --- 339.73 --- 339.7 --- -Banks and banking --- -Financial institutions --- -Monetary policy --- AA / International- internationaal --- 333.139.2 --- 332.1 --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Financial intermediaries --- Lending institutions --- Associations, institutions, etc. --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Finance --- Money --- Organisatie van internationaal betalingsverkeer. Bretton woods. --- Internationale financien. Buitenlands betalingsverkeer --(z.o {336}) --- Bankcontrole en -reglementering. Reglementering van het bankberoep. --- International Monetary Fund. --- Mezhdunarodnyĭ vali︠u︡tnyĭ fond --- Международный валютный фонд --- Miz︠h︡narodnyĭ vali︠u︡tnyĭ fond --- Fundo Monetário Internacional --- Fondo Monetario Internacional --- IMF (International Monetary Fund) --- FMI (International Monetary Fund) --- Internationaler Währungsfonds --- Kokusai Tsūka Kikin --- Fonds monétaire international --- Kukche Tʻonghwa Kigŭm --- Kansainvälinen Valuuttarahasto --- Kuo chi huo pi chi chin --- Fondul Monetar International --- Ṣundūq al-Naqd al-Dawlī --- Fondo M. Internacional --- IWF (International Monetary Fund) --- Kō̜ngthun Kānngœ̄n rawāng Prathēt --- MVF (International Monetary Fund) --- Międzynarodowy Fundusz Walutowy --- Mulya Aramudala --- I.M.F. (International Monetary Fund) --- Quỹ tiè̂n tệ quó̂c té̂ --- Nemzetközi Valuta Alap --- صندوق النقد الدولي --- 国际货币基金组织 --- 国際通貨基金 --- 國際貨幣基金組織 --- Fundu Monetariu Internacional --- Ṣundūq al-Naqd al-Duwalī --- DNT (Organization) --- 339.7 Internationale financien. Buitenlands betalingsverkeer --(z.o {336}) --- 339.73 Organisatie van internationaal betalingsverkeer. Bretton woods. --- Internationaal monetair fonds --- International monetary fund --- Monetary policy. --- Government policy. --- State supervision. --- Institutions financières --- Politique monétaire --- Contrôle de l'Etat --- Bankcontrole en -reglementering. Reglementering van het bankberoep --- Organisatie van internationaal betalingsverkeer. Bretton woods --- IMF. --- Banks and Banking --- Finance: General --- Financial Risk Management --- Money and Monetary Policy --- Industries: Financial Services --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Financial Institutions and Services: Government Policy and Regulation --- International Financial Markets --- Portfolio Choice --- Investment Decisions --- General Financial Markets: Government Policy and Regulation --- Economic & financial crises & disasters --- Monetary economics --- Financial services law & regulation --- Currency --- Foreign exchange --- Asset management companies --- Loans --- Bank resolution --- Currencies --- Asset and liability management --- Financial crises --- Distressed assets --- Financial sector policy and analysis --- Liquidity --- Asset-liability management --- Crisis management --- Economics --- Financial services industry --- United States

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The recent global financial crisis has forced a re-examination of risk transmission in the financial sector and how it affects financial stability. Current macroprudential policy and surveillance (MPS) efforts are aimed establishing a regulatory framework that helps mitigate the risk from systemic linkages with a view towards enhancing the resilience of the financial sector. This paper presents a forward-looking framework ("Systemic CCA") to measure systemic solvency risk based on market-implied expected losses of financial institutions with practical applications for the financial sector risk management and the system-wide capital assessment in top-down stress testing. The suggested approach uses advanced contingent claims analysis (CCA) to generate aggregate estimates of the joint default risk of multiple institutions as a conditional tail expectation using multivariate extreme value theory (EVT). In addition, the framework also helps quantify the individual contributions to systemic risk and contingent liabilities of the financial sector during times of stress.

338.24 <4> --- 338.24 <4-15> --- CIS / Commonwealth Of Independant States - Gos - Cei --- 338 (4) --- 338.24 (4-11) --- EEU / Central & Eastern Europe --- EUR / Europe - Europa --- AT / Austria - Oostenrijk - Autriche --- CH / Switzerland - Zwitserland - Suisse --- DE / Germany - Duitsland - Allemagne --- IT / Italy - Italië - Italie --- PT / Portugal --- 382.51 --- 338.313 --- 330.52 --- 331.32 --- 380.23 --- 337.4047 --- 338.24 (4-11) Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--Oost-Europa --- Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--Oost-Europa --- 338 (4) Economische situatie. Economische structuur van bepaalde landen en gebieden. Economische geografie. Economische produktie.economische produkten. Economische diensten--Europa --- Economische situatie. Economische structuur van bepaalde landen en gebieden. Economische geografie. Economische produktie.economische produkten. Economische diensten--Europa --- 338.24 <4-15> Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--West-Europa --- Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--West-Europa --- 338.24 <4> Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--Europa --- Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--Europa --- Aard, belang en evolutie. Handelsbalans. J curve. --- Kapitalisme. --- Liberaal systeem. Neo-liberalisme. Theorie van de onderhandeling. --- Structuur van de economie. --- Vorming van internationale prijzen. Internationale gelijkheden en verschillen. Concurrentievermogen. --- Europe --- Europe, Eastern --- Former Soviet republics --- -CIS countries --- Commonwealth of Independent States countries --- Ex-Soviet republics --- Ex-Soviet states --- Former Soviet states --- New Independent States (Former Soviet republics) --- Newly Independent States (Former Soviet republics) --- NIS (Former Soviet republics) --- East Europe --- Eastern Europe --- Council of Europe countries --- Eastern Hemisphere --- Eurasia --- Foreign economic relations --- -Case studies --- -Foreign economic relations --- -Economic conditions. Economic development --- Russia --- Financial crises --- Risk management --- Insurance --- Management --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- E-books --- Aard, belang en evolutie. Handelsbalans. J curve --- Kapitalisme --- Liberaal systeem. Neo-liberalisme. Theorie van de onderhandeling --- Structuur van de economie --- Vorming van internationale prijzen. Internationale gelijkheden en verschillen. Concurrentievermogen --- -Financial crises. --- Risk management. --- Systemic risk. --- Economic conditions. Economic development --- Financial crises. --- -Eastern Hemisphere --- CIS countries --- -Financial crises --- Congresses. --- -338.24 <4> --- Accounting --- Exports and Imports --- Finance: General --- Financial Risk Management --- Public Finance --- Specific Distributions --- Model Construction and Estimation --- Financial Crises --- Contingent Pricing --- Futures Pricing --- option pricing --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Financial Institutions and Services: Government Policy and Regulation --- General Financial Markets: Government Policy and Regulation --- Public Administration --- Public Sector Accounting and Audits --- International Lending and Debt Problems --- International Financial Markets --- Finance --- Public finance & taxation --- International economics --- Financial reporting, financial statements --- Systemic risk --- Contingent liabilities --- Debt default --- Asset valuation --- Financial statements --- Financial sector policy and analysis --- Public financial management (PFM) --- External debt --- Asset and liability management --- Financial risk management --- Fiscal policy --- Debts, External --- Asset-liability management --- Finance, Public --- United States