Authors: Richard J. Herring, Robert E. Litan, Robert E. Litan
ISBN-13: 9780815752837, ISBN-10: 0815752830
Format: Paperback
Publisher: Brookings Institution Press
Date Published: March 1999
Edition: New Edition
This book, part of the Integrating National Economies series, examines the case for international harmonization of financial regulation and supervision. Richard J. Herring and Robert E. Litan analyze three basic questions that arise as financial institutions seek to broaden their global reach: What should be the rights of access to markets in different countries? Whose rules should apply? And, which regulatory bodies should enforce these rules? The authors provide a framework for understanding the measures to regulate international financial institutions that countries have agreed on so far. They project potential changes in the international marketplace and the implications of those changes for regulatory policy. They discuss how policymakers should respond and, given the relevant policy constraints, how they are likely to respond. The book concludes with proposals designed to emphasize discipline of financial institutions by the market rather than by regulators.
Preface | ||
1 | Introduction and Overview | 1 |
2 | International Financial Integration: The Continuing Process | 13 |
3 | Financial Regulation in Domestic and International Environments | 49 |
4 | International Efforts in Financial Regulation to Date | 86 |
5 | Prospects for International Cooperation in the Regulation and Regulation and Supervision of Financial Services | 120 |
Comments | 153 | |
Appendix: Permissible Activities for Banking Organizations in Various Financial Centers | 167 | |
References | 171 | |
Index | 179 | |
Tables | ||
Figures |