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Large and Complex Financial Institutions: Challenges and Policy Responses - Lessons from Sweden

Author/Editor: Johnston, R. B. | Horváth, Balázs | Errico, Luca | Chai, Jingqing
Authorized for Distribution: March 1, 2003
Electronic Access: Free Full Text (PDF file size is 665KB)
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Disclaimer: This Policy Discussion Paper should not be reported as representing the views of the IMF. The views expressed in this Policy Discussion Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Policy Discussion Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: This paper examines the regulatory and supervisory implications stemming from the dominance of large and complex financial institutions, drawing on the recent Financial Sector Assessment Program (FSAP) mission work on Sweden. The analysis highlights the importance of consolidated supervision, of a greater emphasis on effective management and corporate governance structures, and of measures strengthening the disciplinary role of the private sector. It calls for developing credible liquidity and crisis management arrangements through appropriate attention to the cross-product and cross-border nature of large and complex financial institution (LCFI) operations. Strengthened supervisory and regulatory responses will enable financial markets to better assess the nature and sources of residual risks they have to face and, on this basis, to develop more effective risk-mitigating measures.
 
Series: Policy Discussion Paper No. 03/1
Subject(s): Financial Sector Assessment Program | Sweden | Capital markets
 
English  
    Published:   March 1, 2003        
            Format:   Paper
    Stock No:   PPIEA0012003   Pages:   24
    Price:   US$15.00
       
     
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