中央银行在金融监管作用的

中央银行在金融监管作用的

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时间:2019-07-06

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1、CentralTHEROLEOFCENTRALbanking,BANKSINFINANCIALmonetarySUPERVISIONANDstabilityandREGULATIONecaf_191740..46financialDavidG.MayesstabilityThisarticledescribesthinkingontheinstitutionsoffinancialsupervisionandregulationpriortothecurrentcrisisandgoesontoexaminewhatlessonshavebeenle

2、arntsubsequently.Itconcludesthattheproblemisnotsomuchthatcentralbanksneededtobemorecloselyinvolvedinsupervisionattheoutsetbutthatmanycountriesdidnothavesatisfactoryschemesinplaceforresolvingproblemsinlargeinstitutions.Centralbanksandgovernmentswerethenforcedintoadhocmeasurest

3、hatcouldhaveunfortunateimplicationsformoralhazardinthefutureunlessfundamentalproblemsareaddressed.Keywords:Bankingsupervision,centralbanks,Þnancialcrisis,FDIC,FSA,regulation,resolutionregime.Introductionorderbothtoheadoffandtohandleproblems.Untilthepresentfinancialcrisis,views

4、InthisarticleIconsiderwhetherwehaveamongpractitionersandintheliteraturelearntsomethingnewfromthepresentcrisisabouttheroleofcentralbanksinfinancialorwhetherwearesimplyseeingatypicalsupervisionandregulationremaineddivided.reactionwhensomethinggoeswrong–Manycountrieshavearrangeme

5、ntswherethenamely,thatsomeblameshouldbecentralbankisthesupervisorandmanydoapportionedandchangesmade.Thefirstnot.Thereareargumentsinfavourofbothsectionthereforesetsoutwherethinkingoutcomes(summarisedbyGoodhartandbeforethecrisislay;thesecondsuggestswhatSchoenmaker,1995,forexampl

6、e).Inpractice,lessonshavebeenlearntfromthecrisisandasagenerality,wherethecentralbankisathethirddrawsconclusionsforwhatmightbesupervisorthisrelatesonlytoprudentialchangedasaresult.Thereis,however,asupervisionandnottoconductofbusinessdangerofdrawinglopsidedconclusionsandoftenon

7、lytobanks.WherethebecausethebulkofthecrisisintermsofsupervisorisindependenttheroletendstoseriousbankfailureshasbeenfeltintheUSA,becomprehensive.theUKandIceland,althoughothersignificantInsofarastherehasbeenatrendineventshaveoccurredinLatvia,Belgium,recentyearsithasbeentowardscl

8、oserGermanyandtheNetherlands,forexample.centralbankinvolvement.Witht

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