Seminar on Current Developments in Monetary and Financial Law
May 7-17, 2000


artwork from the cover of this publication   Current Developments in Monetary and Financial Law
Volume 2


International Monetary Fund

©2003 International Monetary Fund
October 20, 2003

Ordering Information

Contents
Preface
I. The International Monetary Fund
1. Provision of Information to the IMF
   François Gianviti
2. Economics of IMF Arrangements: An Introduction
   Gregory C. Dahl
3.
The Stand-By Arrangement: Its Legal Nature and Principal
Features
   Ross Leckow
4.
The IMF's Relationship with the World Bank: The
Cooperative Framework
   William E. Holder
II. Other Institutional Financial Institutions
5.
International Financial Institutions and Their Discontents
   Jerome I. Levinson
6. Recent Developments in the European Central Bank
   Antonio Sáinz de Vicuña
7. International Finance Corporation: History and Current
Operations
   Carol Mates
8. Competencies of the European Community on
International Monetary Fund Matters: An Overview
of the Key Legal Issues
    Bernhard Steinki
III. Architecture of the International Monetary System
9. Prevention of Financial Crises: An Overview of the Public
Sector Aspects of the International Financial
Architecture
   John Hicklin
10. Involving the Private Sector in the Avoidance and Resolution
of Crisis
   Mark Allen
11. Role of the IMF in Promoting Fiscal Transparency
    Marco Cangiano
12. Legal Aspects of the IMF's Code of Good Practices on
Transparency in Monetary and Financial Policies
    Roy C.N. Baban
IV. International Capital Flows
13. Liberalization of Capital Movements: A Possible Role
for the IMF
   François Gianviti
14. A Dozen Things to Love (or Hate) About Capital Flows
   Vincent Raymond Reinhart
15. Tax Aspects of Offshore Financial Centers
    Victor Thuronyi
V. Central Banking
16. Central Banks and International Financial Volatility
    Luis Jácome Hidalgo
Comment
    George Iden
17. Responsibility of Central Banks for Stability in Financial
Markets
    Garry J. Schinasi
Comment
    Cynthia Lichtenstein
18. Central Bank Responsibility for Exchange Rate Policy and
Implementation
    Karen H. Johnson
19. Current Challenges in Foreign Exchange Reserves
Management
    Jennifer Johnson-Calari
VI. Supervision and Regulation of Financial Institutions
20. Selective Bank and Environmental Developments:
Supervisory Trends upon Entering the Twenty-First
Century
    Joseph Norton
Comment
    Mark A. Cymrot
21. Legal Issues Incident to Holding Central Bank Assets Abroad
    Thomas C. Baxter, Jr., and Robert B. Toomey
22. Assessing the Case for Unified Financial Sector Supervision
    Richard K. Abrams and Michael W. Taylor
23. Supervision of Financial Institutions in the United
Kingdom
    William Blair
24. Converging Standards for Evaluating Banking Supervision
in Individual Countries
    Ricki Tigert Helfer
25. Some Aspects of the Discretion of Bank Regulators in
Addressing Banking Problems
    Tobias M.C. Asser
26. Key Legal Aspects of Bank Restructuring
    Jan Willem van der Vossen
27. Five Observations About Banking Failures
    Ross S. Delston
28. Impact of Bank Secrecy on the Rule of Law in the World
    John W. Moscow
29. Internet Banking: Some Recent Legal Developments
    John Jin Lee
Comment
    Brian W. Smith
VII. Monetary Areas and Exchange Arrangements
30. Dollarization: A Primer
    Tomás J.T. Baliño
31. Dollarization and Euroization
    Michael Gruson
32. Strongly Anchored Currency Arrangements
    Alain Ize
33. Common Currencies, Single Currency, and Other Forms
of Currency Arrangements
    Jean-Victor Louis
34. Legal Tender: A Notion Associated with Payment
    Kazuaki Sono
VIII. Payment Systems
35. CPSS Core Principles for Payment Systems
    Gregor Heinrich
36. Institutional Framework and Implementation of the
Core Principles for Systemically Important Payment
Systems
    Omotunde E.G. Johnson
37. TARGET: Trans-European Automated Real-Time Gross
Settlement Express Transfer System of the European
System of Central Banks
    Erwin Nierop
IX. Dormant Accounts
38. Swiss Law on the Treatment of Dormant Accounts: A
Comparison with European and U.S. Law
    Michael Bradfield and Pamela Sak
39. Summary Review of the Claims Resolution Tribunal for
Dormant Accounts in Switzerland
    Roberts B. Owen
X. Governance
40. Managing the Global Economy: The Role of Governance
    Rainer Geiger
Appendix
I. Code of Good Practices on Transparency in Monetary and
Financial Policies: Declaration of Principles
Biographical Sketches