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Eu Framework For Safeguarding Financial Stability
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Book Synopsis EU Framework for Safeguarding Financial Stability by : María Nieto
Download or read book EU Framework for Safeguarding Financial Stability written by María Nieto and published by International Monetary Fund. This book was released on 2007-11 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: European finance is becoming increasingly cross-border, while the European architecture for safeguarding financial stability - including decision-making processes for providing financial-stability public goods - have remained decentralized with some explicit mechanisms for coordination across countries. Policy makers are aware of the limitations of the existing institutional setting, but opinions on how to proceed, including on burden sharing, are lining up along national and regional political lines with less attention paid to European needs. This paper applies the 'economics of alliances' to examine these European policy challenges. The paper establishes benchmarks for assessing the ability of Europe's existing institutional architecture to efficiently allocate resources to safeguard the EU financial system against systemic threats to stability, such as the insolvency of a pan European bank.
Book Synopsis EU Framework for Safeguarding Financial Stability by : María J. Nieto (financiën.)
Download or read book EU Framework for Safeguarding Financial Stability written by María J. Nieto (financiën.) and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: European finance is becoming increasingly cross-border, while the European architecture for safeguarding financial stability -including decision-making processes for providing financial-stability public goods- have remained decentralized with some explicit mechanisms for coordination across countries. Policy makers are aware of the limitations of the existing institutional setting, but opinions on how to proceed, including on burden sharing, are lining up along national and regional political lines with less attention paid to European needs. This paper applies the 'economics of alliances' to examine these European policy challenges. The paper establishes benchmarks for assessing the ability of Europe's existing institutional architecture to efficiently allocate resources to safeguard the EU financial system against systemic threats to stability, such as the insolvency of a pan European bank [Resumen de autor]
Book Synopsis Safeguarding the Euro in Times of Crisis by :
Download or read book Safeguarding the Euro in Times of Crisis written by and published by . This book was released on 2019 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book tells the inside story of those who played key roles in setting up the organisations and combatting the crisis. In exclusive interviews, global financial leaders and ESM insiders provide a rich stock of perspectives and anecdotes that bring to life the urgency of the crisis as well as the innovative solutions found to resolve it. The European Stability Mechanism and its temporary predecessor the EFSF provided billions of euros in loans to five hard-hit euro area countries during the European financial and sovereign debt crisis of the early 2000s, helping to safeguard the stability of those countries and the euro area as a whole. Initially, the crisis-torn euro area was ill-equipped institutionally, but the rapid establishment of the firewalls, the assistance programmes, deep‐seated country reforms, the strengthening of European institutions, and extraordinary European Central Bank measures shielded Europe from a euro area break-up. With the EFSF/ESM set-up, its managers aspired to create a new, more entrepreneurial international financial institution, one that is agile enough to respond quickly to new challenges, while still ensuring the strict governance befitting an organisation pursuing a public mission. The euro area has emerged from near disaster in more robust shape. As Europe strives to further strengthen its architecture in preparation for any possible future crises, it is important to reflect upon how the euro area reinvigorated its fortunes and draw the relevant lessons for future crisis management in Europe and beyond.
Book Synopsis From Fragmentation to Financial Integration in Europe by : Mr.Charles Enoch
Download or read book From Fragmentation to Financial Integration in Europe written by Mr.Charles Enoch and published by International Monetary Fund. This book was released on 2013-12-11 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Fragmentation to Financial Integration in Europe is a comprehensive study of the European Union financial system. It provides an overview of the issues central to securing a safer financial system for the European Union and looks at the responses to the global financial crisis, both at the macro level—the pendulum of financial integration and fragmentation—and at the micro level—the institutional reforms that are taking place to address the crisis. The emerging financial sector management infrastructure, including the proposed Single Supervisory Mechanism and other elements of a banking union for the euro area, are also discussed in detail.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1475528205 Total Pages :67 pages Book Rating :4.4/5 (755 download)
Book Synopsis European Union by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book European Union written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2013-03-15 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent financial crises have underscored the need for the European Union (EU) to take a regional approach to financial stability. Preserving financial stability in such an environment requires a supranational oversight framework. Progress has been made toward stronger pan-European approaches. Moving banks and sovereigns jointly to safety is essential. Bank recovery and resolution and harmonization are essential. The focus of this Financial Sector Stability assessment is on supranational institutions.
Book Synopsis Financial Regulation in the European Union by : Rainer Kattel
Download or read book Financial Regulation in the European Union written by Rainer Kattel and published by Routledge. This book was released on 2015-10-08 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection offers a comparative overview of how financial regulations have evolved in various European countries since the introduction of the single European market in 1986. It includes a number of country studies which provides a narrative of the domestic financial regulatory structure at the beginning of the period, as well the means by which the EU Directives have been introduced into domestic legislation and the impact on the financial structure of the economy. In particular, studies highlight how the discretion allowed by the Directives has been used to meet the then existing domestic conditions and financial structure as well as how they have modified that structure. Countries covered are France, Germany, Italy, Spain, Estonia, Hungary and Slovenia. The book also contains an overview of regulatory changes in the UK and Nordic countries, and in post-crisis USA. This comparative approach raises questions about whether past and more recent regulatory changes have in fact contributed to increase financial stability in the EU. The comparative analysis provided in this book raises questions on whether the past and more recent changes are contributing to increase the financial stability and efficiency of individual banks and national financial systems. The crisis has demonstrated the drawbacks of formulating the regulatory framework on standards borrowed from the best industry practices from the large developed countries, originally designed exclusively for large global banks, but now applied to all financial institutions.
Book Synopsis Integrating Europe's Financial Markets by : Mr.Jörg Decressin
Download or read book Integrating Europe's Financial Markets written by Mr.Jörg Decressin and published by International Monetary Fund. This book was released on 2007-09-12 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: By and large, EU financial integration has been a success story. Still, the reform agenda is far from finished. What are the remaining challenges? What are the gains of closer financial market integration? This IMF book tracks the European Union's journey along the path to a single financial market and identifies the challenges and priorities that remain ahead. It pays particular attention to the most recent integration efforts in the European Union following the introduction of the euro. The study looks at the importance of financial integration, in particular for economic growth, the interplay between banks and markets, and equity market integration. It closely examines the relationship between financial integration and financial stability. This interaction presents the European Union with a challenge, but also with the opportunity to play a pioneering role in developing a regional approach to financial stability that could provide lessons for the rest of the world.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1484369270 Total Pages :86 pages Book Rating :4.4/5 (843 download)
Book Synopsis Euro Area Policies by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Euro Area Policies written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2018-07-19 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Overall the resilience of large euro area banks has improved, but important vulnerabilities remain. Capital buffers are in aggregate sizeable relative to immediate threats, but some banks are especially vulnerable to credit risk and others to market risks, including a substantial rise in risk premia. The banking system as a whole has ample liquidity, against a backdrop of ECB support. At a structural level, low profitability is found in many banks across all business models, despite improving conjunctural conditions. The interconnectedness analysis shows that strong buffers are effective in dampening both vulnerabilities and onward transmission. Risks to financial stability relate mainly to tighter financial conditions, weaker growth, and policy and geopolitical uncertainties. The withdrawal of the United Kingdom from the EU (Brexit) could potentially disrupt financial market and services, and thus the wider economy. Also, policy reversals could hurt debt sustainability and test the cohesion of policy making in the union.
Book Synopsis Principles of Sustainable Finance by : Dirk Schoenmaker
Download or read book Principles of Sustainable Finance written by Dirk Schoenmaker and published by Oxford University Press, USA. This book was released on 2019 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: Combining theory, empirical data, and policy this book provides a fresh analysis of sustainable finance. It explains the sustainability challenges for corporate investment and shows how finance can steer funding to certain companies and projects without sacrificing return, speeding up the transistion to a sustainable economy.
Book Synopsis Handbook of Safeguarding Global Financial Stability by : Gerard Caprio
Download or read book Handbook of Safeguarding Global Financial Stability written by Gerard Caprio and published by Academic Press. This book was released on 2012-11-27 with total page 547 pages. Available in PDF, EPUB and Kindle. Book excerpt: Political and social forces exert pressure on our globalized economy in many forms, from formal and informal policies to financial theories and technical models. Our efforts to shape and direct these forces to preserve financial stability reveal much about the ways we perceive the financial economy. The Handbook of Safeguarding Global Financial Stability examines our political economy, particularly the ways in which these forces inhabit our institutions, strategies, and tactics. As economies expand and contract, these forces also determine the ways we supervise and regulate. This high-level examination of the global political economy includes articles about specific countries, crises, and international systems as well as broad articles about major concepts and trends.. Substantial articles by top scholars sets this volume apart from other information sources Diverse international perspectives result in new opportunities for analysis and research Rapidly developing subjects will interest readers well into the future
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1498324029 Total Pages :109 pages Book Rating :4.4/5 (983 download)
Book Synopsis Global Financial Stability Report, October 2019 by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Global Financial Stability Report, October 2019 written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2019-10-16 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: The October 2019 Global Financial Stability Report (GFSR) identifies the current key vulnerabilities in the global financial system as the rise in corporate debt burdens, increasing holdings of riskier and more illiquid assets by institutional investors, and growing reliance on external borrowing by emerging and frontier market economies. The report proposes that policymakers mitigate these risks through stricter supervisory and macroprudential oversight of firms, strengthened oversight and disclosure for institutional investors, and the implementation of prudent sovereign debt management practices and frameworks for emerging and frontier market economies.
Book Synopsis Global Financial Stability Report, April 2021 by : International Monetary Fund
Download or read book Global Financial Stability Report, April 2021 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-04-06 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: Extraordinary policy measures have eased financial conditions and supported the economy, helping to contain financial stability risks. Chapter 1 warns that there is a pressing need to act to avoid a legacy of vulnerabilities while avoiding a broad tightening of financial conditions. Actions taken during the pandemic may have unintended consequences such as stretched valuations and rising financial vulnerabilities. The recovery is also expected to be asynchronous and divergent between advanced and emerging market economies. Given large external financing needs, several emerging markets face challenges, especially if a persistent rise in US rates brings about a repricing of risk and tighter financial conditions. The corporate sector in many countries is emerging from the pandemic overindebted, with notable differences depending on firm size and sector. Concerns about the credit quality of hard-hit borrowers and profitability are likely to weigh on the risk appetite of banks. Chapter 2 studies leverage in the nonfinancial private sector before and during the COVID-19 crisis, pointing out that policymakers face a trade-off between boosting growth in the short term by facilitating an easing of financial conditions and containing future downside risks. This trade-off may be amplified by the existing high and rapidly building leverage, increasing downside risks to future growth. The appropriate timing for deployment of macroprudential tools should be country-specific, depending on the pace of recovery, vulnerabilities, and policy tools available. Chapter 3 turns to the impact of the COVID-19 crisis on the commercial real estate sector. While there is little evidence of large price misalignments at the onset of the pandemic, signs of overvaluation have now emerged in some economies. Misalignments in commercial real estate prices, especially if they interact with other vulnerabilities, increase downside risks to future growth due to the possibility of sharp price corrections.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1475577737 Total Pages :118 pages Book Rating :4.4/5 (755 download)
Book Synopsis Germany by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Germany written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2016-06-29 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates the risks and vulnerabilities of the German financial system and reviews both the German regulatory and supervisory framework and implementation of the common European framework insofar as it is relevant for Germany. The country is home to two global systemically important financial institutions, Deutsche Bank AG and Allianz SE. The system is also very heterogeneous, with a range of business models and a large number of smaller banks and insurers. The regulatory landscape has changed profoundly with strengthened solvency and liquidity regulations for banks (the EU Capital Requirements Regulation and Directive IV), and the introduction of macroprudential tools.
Book Synopsis The Role of Financial Stability in EU Law and Policy by : Gianni Lo Schiavo
Download or read book The Role of Financial Stability in EU Law and Policy written by Gianni Lo Schiavo and published by Kluwer Law International B.V.. This book was released on 2016-04-24 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the outbreak of the 2008 financial crisis, European Union (EU) institutions and Member States have engaged in a major effort to repair the architecture of economic governance of the European Economic and Monetary Union (EMU). This book takes as its starting point the unclear notion of financial stability, which only recently has received a more detailed legal analysis. It examines the evolution of the concept of financial stability during the financial crisis and provides a conceptual framework in order to demonstrate that financial stability has become a foundational objective in Europe and has set a new normative framework in EU law and policy. Arguing that financial stability is a foundational objective in EU law and policy based on certain normative instruments, this ground-breaking book provides an in-depth and original understanding of the newly developed framework to attain supranational financial stability. In its analysis of the legal implications of these new instruments, the study examines topics and issues such as the following: - the concept and normative instruments of financial stability at European level; - the renewed economic governance in Europe; - the financial assistance mechanisms developed in Europe; - the new regulatory environment for banks at European level; - the Single Supervisory Mechanism and the role of the European Central Bank (ECB) therein; and - the new framework for banking resolution, with specific focus on the Single Resolution Mechanism. The author shows in detail how an appropriate level of supranational regulation, supervision, burden-sharing and rescue measures strengthen financial stability. Thereby, the book will appeal to officials in EU institutions and agencies as well as lawyers and academics in EU law and in banking/financial law to gain a clear understanding of role of financial stability and its normative instruments in EU law and policy. Gianni Lo Schiavo is currently working as a lawyer at the ECB. He obtained a PhD in EU Law at King's College, London, and has written numerous articles and chapters in EU administrative law, EU financial/banking law and EU competition law.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1475554613 Total Pages :61 pages Book Rating :4.4/5 (755 download)
Book Synopsis Sweden by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Sweden written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2016-11-17 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the findings of the Financial System Stability Assessment for Sweden. The Swedish financial system is large and highly interconnected, putting a premium on the accompanying policy framework. Relative to the size of the domestic economy, the financial system is among Europe’s largest. It features complex domestic and international linkages, reflecting Sweden’s role as a regional financial hub. However, the macrofinancial risks have grown since 2011, for example the rising share of highly indebted households. Stress tests also suggest that banks and nonbanks are largely resilient to solvency shocks, but concerns persist about the ability of bank models to capture unexpected losses.
Book Synopsis The Role of Financial Stability in EU Law and Policy by : Gianni Lo Schiavo
Download or read book The Role of Financial Stability in EU Law and Policy written by Gianni Lo Schiavo and published by Kluwer Law International. This book was released on 2017 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: ForewordList of AbbreviationsAcknowledgementsCHAPTER 1 General IntroductionCHAPTER 2 Financial Stability in ContextCHAPTER 3 Financial Stability as a New Supranational Foundational Objective in EU Law and PolicyCHAPTER 4 European Economic GovernanceCHAPTER 5 Stability Mechanisms in EuropeCHAPTER 6 EU Banking RegulationCHAPTER 7 EU Banking Supervisory LawCHAPTER 8 EU Banking Recovery and ResolutionCHAPTER 9 General ConclusionsSelected BibliographyTable of CasesIndex.
Book Synopsis Globalization and Systemic Risk by :
Download or read book Globalization and Systemic Risk written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
