The Financial Regulation Forum
economic crisis
Redesigning the contours of the future financial system
24 Aug. This IMF paper explores the responses of the private and public sector to the crisis and some of the probable outcomes. Aside from improved supervision of individual institutions, greater emphasis needs to be put on financial regulations that reflect the systemic nature of financial risks and the role that macroeconomic policies play. Global [...]
Snippet: Another US economic crisis?
01 May. A Peter G. Peterson Foundation survey shows bipartisan agreement that the US needs to cut spending and raise taxes to avoid an economic crisis. The survey of the most senior economic officials from the last eight administrations and Congressional leaders from the past 30 years shows broad agreement that failure to address the [...]
Post-crisis banks must refinance $5 trillion
The International Monetary Fund has scaled back its estimate of the cost to the banks of the global financial crisis by $500 billion (£325.6 billion) but said lenders need to refinance $5 trillion over the next 36 months. The IMF also gave warning that rising government indebtedness was creating new financial stability risks. Improving health [...]
Snippet: Regulators should act like intelligence analysts
20 Apr. Regulators should adopt a more dynamic approach in using economic data in order to help prevent a new financial crisis, according to a US Federal Reserve paper. It argues that combining macroeconomic data showing trends like the large rise in household debt with specialized data, such as borrowers’ solicitations showing the rapid decline [...]
Snippet: No resolution in sight in blame the Fed game
20 Apr. The debate over the Federal Reserve’s culpability for the financial crisis is seemingly no closer to resolution, if it ever will be. Most central bankers acknowledge they could have done a better job watching the financial system. They now are moving toward acknowledging that they need to take a more proactive approach to [...]
Book choice: On the Brink: Inside the Race to Stop the Collapse of the …
On the Brink: Inside the Race to Stop the Collapse of the Global Financial System by Henry Paulson When Hank Paulson, the former CEO of Goldman Sachs, was appointed in 2006 to become the nation’s next Secretary of the Treasury, he knew that his move from Wall Street to Washington would be daunting and challenging. [...]
Book choice: Regulation of Banks and Finance: Theory and Policy after the Credit Crisis
Regulation of Banks and Finance: Theory and Policy after the Credit Crisis by Carlos M. Pelaez and Carlos A. Pelaez As the financial crisis engulfs the world economy, there is an ambitous agenda for regulatory reform. This book provides a comprehensive review of the analysis of finance, economics and the law and economics, illuminating past [...]
Reform not revolution
The free market economy is flawed but should be addressed by regulation and reform rather than being replaced by a new economic system, according to a poll conducted in 27 countries. The survey, commissioned by the BBC World Service, found widespread but measured scepticism of the world economic system in light of the financial crisis. [...]
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