Leader00834cam a22002055a 4500
008090326s2009 uk d 001 0 eng
020 a: 9781848444515
035 a: (LB) 1011812
040 d: LB
080##a: 338.1
1001 a: Goodhart, Charles A. E.
24514a: The Regulatory Response to the Financial Crisisc: Charles A.E. Goodhart
260 a: Northamptonb: Edward Elgarc: 2009
300 a: 151 p.
504##a: Includes bibliographical references and index
650#4a: Financial crisis
650#4a: Finanšu krīzes
990##a: 338.1


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There are, at least, seven aspects relating to financial regulation where the recent, and still current, financial turmoil has thrown up issues for discussion. These include: 1. The scale and scope of deposit insurance; 2. Bank insolvency regimes, also known as 'prompt corrective action'; 3. Money market operations by Central Banks; 4. Commercial bank liquidity risk management; 5. Procyclicality of capital adequacy requirements (and mark-to-market), Basel II; lack of counter-cyclical instruments; 6. Boundaries of regulation, conduits, SIVs and reputational risk; 7. Crisis management: - (a) domestic, within countries, e.g. UK Tripartite Committee; (b) cross-border; how to bear the burden of cross-border defaults? This paper describes how the current crisis has exposed regulatory failings, drawing largely on recent UK experience, and suggests what remedial action might be undertaken.

Keywords: financial regulation, bank insolvency, deposit insurance, liquidity, Basel II, procyclicality

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