Current Developments in Monetary and Financial Law, Vol. 5
Seminar Volumes, November 6, 2008
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Bibliographic details
- Published: November 6, 2008
- Series: Seminar Volumes
- Volume: 5
- DOI: https://doi.org/10.5089/9781589067738.072
Overview and Main Theme
- The main theme of Volume 5 is law and financial stability.
- Chapters enhance understanding of financial stability and the instruments available to promote it.
- Chapters are based on presentations from the tenth biennial seminar for legal advisors of central banks and member countries organized by the Legal Department and Institute of the IMF.
- Chapter authors include scholars, lawyers, representatives from the private sector, and officials of the IMF, other international organizations, and central banks.
Substantive Topics Covered
- Competing responsibilities of central banks and institutional responses to past episodes of instability.
- Reasons for and against regulating hedge funds and derivatives, and methods available for doing so.
- Contributions of deposit insurance schemes, payments systems, and securities settlement systems toward achieving financial stability.
- Relationship between laws proscribing money laundering and the financing of terrorism and the goal of financial stability.
Key Findings and Analytical Points
- Financial stability is shaped by a combination of institutional responsibilities, regulatory choices, and market infrastructure (deposit insurance, payment systems, securities settlement systems).
- Regulatory debate exists around hedge funds and derivatives, encompassing both rationales for regulation and the selection of regulatory methods.
- Anti-money laundering and combating the financing of terrorism (AML/CFT) laws have a relationship with the objective of financial stability that is discussed across chapters.
- Institutional responses to past instability provide lessons for central bank mandates and coordination.
Subjects and Keywords
- Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Crime, Deposit insurance, Financial crises, Financial institutions, Financial sector policy and analysis, Financial sector stability, Hedge funds, Securities
- Keywords: Anti-money laundering and combating the financing of terrorism (AML\/CFT), Caribbean, Central America, Central Asia, central bank, certificate, Deposit insurance, Europe, Financial sector stability, fund, fund's transparency Policy, Global, Hedge funds, insurance system, market stability, North America, payment system, Securities, securities account, securities intermediary, SEM, Sub-Saharan Africa, TA activity, Western Europe
International Monetary Fund. Current Developments in Monetary and Financial Law, Vol. 5 (November 6, 2008).