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Financial Stability in Emerging Market Economies
Bank for International Settlements
其他書名
A Strategy for the Formulation, Adoption and Implementation of Sound Principles and Practices to Strengthen Financial Systems : Report
出版Bank for International Settlements, 1997
ISBN92913190239789291319022
URLhttp://books.google.com.hk/books?id=BismAQAAMAAJ&hl=&source=gbs_api
註釋Table of contents Executive summary ... 1 Sources of financial instability ... 2 Key elements of robust financial systems ... 3 Developing sound principles and practices ... 5 Adopting and implementing sound principles and practices ... 6 Chapter I - Sources of financial instability ... 9 Introduction ... 9 Macroeconomic sources of vulnerability ... 10 Instability ... 10 Inflation ... 12 Liberalisation ... 13 Failures in the design of macroeconomic policy instruments ... 14 Sector-specific sources of vulnerability ... 15 Corporate governance and management ... 15 Market infrastructure and discipline ... 17 Supervision and regulation ... 18 Feedback effects ... 19 Chapter II - Key features of a robust financial system ... 21 Introduction ... 21 Conditions in the real economy ... 23 Macroeconomic requirements ... 23 Structural requirements in the real economy ... 25 Institutional and financial market infrastructure ... 25 Legal and juridical framework ... 25 Accounting and other information systems ... 27 Private market arrangements and conventions ... 30 Payment and settlement systems ... 31 Market diversity and depth ... 31 Market functioning ... 33 Foundations of good institutional governance ... 34 Market discipline by stakeholders ... 36 Competition ... 37 iegulation and supervision ... 38 General considerations for effective regulation and supervision ... 38 Considerations applying to banking regulation and supervision ... 41 Operation of the safety net ... 44 Securities market oversight ... 45 Strategies for financial liberalisation and for reforms following crises ... 47 Strategies for financial liberalisation ... 47 Restoring and improving financial robustness in the wake of crises ... 48 Indicators of financial robustness ... 50 Chapter III - A strategy for promoting robust financial systems ... 52 Introduction ... 52 Formulation, adoption and implementation of sound principles and practices ... 53 Development of sound practices, principles and norms ... 55 Adopting and implementing sound practices and robust structures ... 58 Role of the international institutions ... 61 Critical areas for action ... 66 Institutional and market infrastructure ... 66 Market discipline and competition ... 67 Regulation and supervision ... 68 Further steps ... 68 References ... 71 iinnexes ... 73 Annex 1 Illustrative List of Indicators of Robust Financial Systems ... 74 Annex 2 Basle Core Principles for Effective Banking Supervision - Basle Committee on Banking Supervision ... 77 Annex 3 Principles and Recommendations for the Regulation and Supervision of Securities Markets - International Organization of Securities Commissions ... 81 Annex 4 Efforts by the G-10 Central Banks to Reduce Settlement System Risks - Committee on Payment and Settlement Systems ... 95 Annex 5 Members of the Working Party on Financial Stability in Emerging Market Economies ... 101.