At this Financial Regulation Session of the G20 Leaders Summit, M. Gurría spoke of 'a comprehensive reform of the international financial architecture that should include financial inclusion, protection and education'.
English, , 275kb
The report assess the potential impact of a crisis in the banking sector on public finances in four selected EU Member States and finds that in two of them governments are likely to have to cover losses generated in the banking system.
English, , 184kb
While neither the legal nor institutional framework in Germany were adequate for dealing with stressed banks in the recent financial crisis, the newly established Federal Agency for Financial Market Stabilisation fills that gap. Initially focusing on rescuing banks, that agency now focuses on restructuring them.
English, , 262kb
The macro-prudential authority is being adopted by monetary policy authorities as a means to limit systemic financial risks in the light of weaknesses revealed by the crisis. This article outlines the powers, scope and accountability that should characterise the macro-prudential authority.
English, , 194kb
The financial crisis exposed serious flaws in the European framework for cross-border banking, including deposit insurance. Iceland’s experience shows that sizeable cross-border banking operations in small countries with their own currency come with very significant risks.
In the wake of the 2010 earthquake, this paper considers policy options for expanding the proportion of future Chilean earthquake losses that would be covered via new and expanded risk transfer mechanisms.
English, , 232kb
This speech discusses policy responses to financial crises, with a particular focus on the US experience with government intervention during the 2008-09 financial crisis. It also reflects on the possibilities for conducting crisis management without financial guarantees.
Mismatches between the supply and the demand of safe financial assets in fast-growing emerging countries have been singled out by economic theory as drivers of international capital flows and, ultimately, global current account imbalances.
This financial literary conference will focus on designing and establishing effective financial education initiatives to support and protect consumers.
This paper examines whether the composition of a country’s external liabilities and assets has an incidence on its risk of suffering financial turmoil.