Improving Banking Supervision shows how greater market discipline can be used to help improve the quality of banks and their management in a world of increasing complexity, size and innovation. The book is based on research undertaken in the Nordic countries and New Zealand, and set in an international context through reference and comparison to the experiences of banks throughout the EU and the US. The authors show how traditional methods of regulation, particularly across borders face limits and can impose substantial costs on customers. They propose alternatives for today's international banks, based on a network of incentives to prudential behaviour and focusing on three main issues: - the development of transparent corporate structures - the public disclosure of comparable meaningful information so that markets can assess banks - the implementation of effective means to allow banks to exit without unacceptable costs to society

Autorentext

DAVID G. MAYES is currently Advisor to the Board of the Bank of Finland and Professor of Economics at Southbank University, London. He was previously Chief Manager and Chief Economist at the Reserve Bank of New Zealand and has been Director of the New Zealand Institute of Economic Research. He has published widely in economics and is currently working on a book on monetary policy.

LIISA HALME is Chief Legal Counsel for the Financial Supervisory Authority of Finland.

AARNO LIUKSILA is the Director of IA Management, based in Washington. Until recently, he worked for the legal service of the International Monetary Fund.

Inhalt

Introduction The Financial Crisis of the 1990s and its Lessons Challenges to Financial Supervision in Coming Years Principles of Good Financial Supervision Corporate Governance and Financial Stability The Rationale for a More Market-based Regime A Disclosure Regime Robust Exit Policies to Underpin Market Discipline A New Approach to Orderly Bank Exit Exit Policy Co-ordination at EU Level The Way Forward