Financial Sector Assessment Program After Ten Years-Experience and Reforms for the Next Decade

Financial Sector Assessment Program After Ten Years-Experience and Reforms for the Next Decade PDF

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2009-08-28

Total Pages: 53

ISBN-13: 1498335578

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Ten years after its inception, the FSAP has established itself as an important instrument for assessing financial systems around the world. More than three-quarters of the membership have volunteered for FSAP assessments or agreed to do so in the near future, including almost all the G20 countries. Previous reviews have confirmed that the FSAP has helped deepen the understanding of countries’ financial sectors and linkages with the rest of the economy, enriched the policy dialogue, and ensured consistency of Bank and the Fund advice, the last being a feature highly valued by participating countries. As also noted in the Malan Report, the collaborative nature of the FSAP adds value by effectively addressing areas of financial sector policy where developmental and stability concerns are interlinked and overlap and by facilitating knowledge spillovers between the two institutions. These past reviews have noted, however, the need to make the FSAP more flexible, responsive, and continuous, to deepen and strengthen the analytical toolkit, and to integrate the FSAP more closely with the Bank’s and the Fund’s other financial sector work.

Financial Sector Assessment Program After Ten Years-Experience and Reforms for the Next Decade

Financial Sector Assessment Program After Ten Years-Experience and Reforms for the Next Decade PDF

Author: Internationaler Währungsfonds

Publisher:

Published: 2009

Total Pages: 0

ISBN-13:

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Ten years after its inception, the FSAP has established itself as an important instrument for assessing financial systems around the world. More than three-quarters of the membership have volunteered for FSAP assessments or agreed to do so in the near future, including almost all the G20 countries. Previous reviews have confirmed that the FSAP has helped deepen the understanding of countries' financial sectors and linkages with the rest of the economy, enriched the policy dialogue, and ensured consistency of Bank and the Fund advice, the last being a feature highly valued by participating countries. As also noted in the Malan Report, the collaborative nature of the FSAP adds value by effectively addressing areas of financial sector policy where developmental and stability concerns are interlinked and overlap and by facilitating knowledge spillovers between the two institutions. These past reviews have noted, however, the need to make the FSAP more flexible, responsive, and continuous, to deepen and strengthen the analytical toolkit, and to integrate the FSAP more closely with the Bank's and the Fund's other financial sector work.

The Oxford Handbook of Financial Regulation

The Oxford Handbook of Financial Regulation PDF

Author: Niamh Moloney

Publisher: OUP Oxford

Published: 2015-08-27

Total Pages: 900

ISBN-13: 0191510866

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The financial system and its regulation have undergone exponential growth and dramatic reform over the last thirty years. This period has witnessed major developments in the nature and intensity of financial markets, as well as repeated cycles of regulatory reform and development, often linked to crisis conditions. The recent financial crisis has led to unparalleled interest in financial regulation from policymakers, economists, legal practitioners, and the academic community, and has prompted large-scale regulatory reform. The Oxford Handbook of Financial Regulation is the first comprehensive, authoritative, and state of the art account of the nature of financial regulation. Written by an international team of leading scholars in the field, it takes a contextual and comparative approach to examine scholarly, policy, and regulatory developments in the past three decades. The first three parts of the Handbook address the underpinning horizontal themes which arise in financial regulation: financial systems and regulation; the organization of financial system regulation, including regional examples from the EU and the US; and the delivery of outcomes and regulatory techniques. The final three Parts address the perennial objectives of financial regulation, widely regarded as the anchors of financial regulation internationally: financial stability, market efficiency, integrity, and transparency; and consumer protection. The Oxford Handbook of Financial Regulation is an invaluable resource for scholars and students of financial regulation, economists, policy-makers and regulators.

A Contemporary Concept of Monetary Sovereignty

A Contemporary Concept of Monetary Sovereignty PDF

Author: Claus D. Zimmermann

Publisher: Oxford University Press, USA

Published: 2013-11

Total Pages: 291

ISBN-13: 0199680744

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International law dictates that states have sovereignty over their own monetary and fiscal affairs. In practice, however globalisation and the powers of organisations like the IMF and EU are thought to have significantly eroded this idea. This book offers a legal analysis of the development of monetary sovereignty and its meaning in today's world.

Staff Guidance Note for Public Debt Sustainability Analysis in Market-Access Countries

Staff Guidance Note for Public Debt Sustainability Analysis in Market-Access Countries PDF

Author: International Monetary Fund. Fiscal Affairs Dept.

Publisher: International Monetary Fund

Published: 2013-05-06

Total Pages: 55

ISBN-13: 1498341845

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The framework for fiscal policy and public debt sustainability analysis (DSA) in market-access countries (MACs) was reviewed by the Executive Board in August 2011.1 The review responded to shortcomings in identifying fiscal vulnerabilities and assessing risks to debt sustainability against the backdrop of increased concerns over fiscal policy and public debt sustainability in many advanced economies.

Financial Sector and Bilateral Surveillance - Toward Further Integration

Financial Sector and Bilateral Surveillance - Toward Further Integration PDF

Author: International Monetary Fund. Strategy, Policy, & Review Department

Publisher: International Monetary Fund

Published: 2009-08-28

Total Pages: 30

ISBN-13: 1498335608

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The Fund has continued to make great efforts to enhance financial sector focus and analytics in bilateral surveillance. The main initiatives include enhancing collaboration with other multilateral institutions, improving analytical tools and methodologies, and a major strengthening of the financial sector capabilities in area departments. The fruits of these efforts are already visible in the better treatment of financial sector issues in Article IV reports

International Economic Law and Monetary Measures

International Economic Law and Monetary Measures PDF

Author: Annamaria Viterbo

Publisher: Edward Elgar Publishing

Published: 2012-01-01

Total Pages: 369

ISBN-13: 1781002614

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The 20072010 global financial crisis re-opened the debate on the reform of the international monetary and financial system. This well-argued book demonstrates the strategic role of international economic law (IEL) in ensuring international monetary stability and global financial stability. After discussing the current allocation of powers among IEL institutions, Annamaria Viterbo focuses on monetary measures: exchange restrictions, capital controls and exchange rate manipulations. These three fundamental topics are then examined through the lens of a multi-layered methodology, adopting perspectives from international monetary law, trade law and investment law. The author evaluates how the horizontal sectors in which IEL is traditionally divided interact and how conflicts between norms are avoided or solved. Particular attention is also devoted to the outcomes of trade and investment disputes that deal with monetary measures. International Economic Law and Monetary Measures will appeal to international trade law and international financial law scholars as well as law and business students. Legal practitioners and officials working in the field of international economic law will find it a useful reference, as will legal counsel in banks and financial institutions, international investors and multinational corporations.

Financial Sector Surveillance and the Mandate of the Fund

Financial Sector Surveillance and the Mandate of the Fund PDF

Author: International Monetary Fund. Finance Dept.

Publisher: International Monetary Fund

Published: 2010-04-13

Total Pages: 23

ISBN-13: 149833766X

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This paper reviews the Fund’s liquidity position. The review covers the Fund’s financial activities for the period September 11, 2009 through March 31, 2010, and also discusses recent developments likely to influence the Fund’s liquidity position. Against this backdrop, it examines the outlook for liquidity using the one-year Forward Commitment Capacity (FCC), the primary measure of the Fund’s liquidity, which is calculated taking into account supplementary resources made available under borrowing arrangements, including note purchase agreements.

Guidance Note for Staff on Undertaking Targeted (Risk-Based) Reports on the Observance of Standards and Codes (ROSCs) in Financial Regulation and Supervision

Guidance Note for Staff on Undertaking Targeted (Risk-Based) Reports on the Observance of Standards and Codes (ROSCs) in Financial Regulation and Supervision PDF

Author: International Monetary Fund. Monetary and Capital Markets Department

Publisher: International Monetary Fund

Published: 2010-06-10

Total Pages: 10

ISBN-13: 1498336701

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In September 2009, the International Monetary Fund (IMF) and the World Bank (WB) Boards approved changes to the Financial Sector Assessment Program (FSAP) to (i) make it more flexible and better-aligned with country needs as well as IMF and WB financial sector priorities and core responsibilities; (ii) enhance the quality, candor, and comparability of assessments; and (iii) better-integrate FSAP analysis into the institutions’ evolving mandates.

2011 Triennial Surveillance Review - External Study - IMF and Global Financial Stability

2011 Triennial Surveillance Review - External Study - IMF and Global Financial Stability PDF

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2011-07-25

Total Pages: 57

ISBN-13: 1498338666

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External study prepared by John Palmer, Chair, Toronto Leadership Centre, former Superintendent, Office of the Superintendent of Financial Institutions, Canada, former Deputy Managing Director Monetary Authority of Singapore, former Canadian Managing Partner of KPMG and Yoke Wang Tok, Former Senior Advisor to the IMF Executive Director representing ASEAN, Nepal, Fiji and Tonga and former Principal Economist, Monetary Authority of Singapore: This report aims to provide an independent view of how the Fund is discharging its multilateral surveillance responsibilities, in particular its contribution to global financial stability and crisis prevention, working in coordination with other relevant international groupings/institutions such as the FSB and BIS. As we emerge from the global financial crisis (GFC), the Fund has regained much of its credibility and relevance. The GFC caught many, including the IMF, by surprise. Since then, the Fund has done considerable self-analysis and taken active steps to strengthen its surveillance and policy advice and to improve traction with policy makers. The IEO report on the Fund’s performance in the run-up to the financial and economic crisis identified various shortcomings that needed to be addressed. One of its key findings was the inability of the Fund to connect-the dots, to deliver hard-hitting messages and the difficulty experienced by the Fund in thinking beyond mainstream/official views. Many of the IEO’s findings have relevance to this review.