Seminar on Current Developments in Monetary and Financial Law
May 7-17, 2002

artwork from the cover of this publication   Current Developments in Monetary and Financial Law
Volume 3

International Monetary Fund

©2005 International Monetary Fund
April 29, 2005

Ordering Information

I. Developments in the International Monetary Fund
1. Economic, Social, and Cultural Rights and the International Monetary Fund
   François Gianviti
2. Publication Policies of the International Monetary Fund
   William E. Holder
Conditionality in the International Monetary Fund
   Ross Leckow
Safeguards Assessments and Central Bank Legislation
   Thanos Catsambas
Overview of the Rules of Conduct and Ethics at the International Monetary Fund
   Joan S. Powers
II. Developments in Other International Financial Institutions
The World Bank's Institutional Framework for Combating Fraud and Corruption
   Ko-Yung Tung
7. Recent Developments at the Inter-American Development Bank
   J. James Spinner
8. Recent Developments at the International Finance Corporation
   Carol Mates
III. Sovereign Debt Restructuring
9. A New Approach to Sovereign Debt Restructuring
   Anne O. Krueger
10. Collective Action Clauses in International Sovereign Bonds
   Yan Liu
IV. Architecture of the International Financial System
11. Why Is There So Much Disagreement About the IMF and Reform of the International Financial Architecture?
    Thomas D. Willett
12. Development of International Standards of Security Interests
    Pascale De Boeck and Thomas Laryea
13. Legal Aspects of the Financial Sector Assessment Program
   François Gianviti
14. International Reserves-Legal Aspects of Concept and Usage at the IMF
   Roy C. Baban
V. Money Laundering and Financing of Terrorism
15. Money Laundering and Terrorism Financing: An Overview
    Jean-François Thony
16. The Methodology for Assessing Compliance with Anti-Money Laundering and Combating the Financing of Terrorism Standards
    Nadim Kyriakos-Saad
17. Combating Money Laundering and Terrorism Financing
    Louis Forget
18. Money Laundering Countermeasures with Primary Focus on Terrorism and the USA PATRIOT Act of 2001
    Fletcher N. Baldwin, Jr.
19. The Impact of the USA PATRIOT Act of 2001 on Non-U.S. Banks
    Joseph B. Tompkins, Jr.
VI. Central Banking Issues
20. Relative Autonomy of the Central Bank
    Tobias M.C. Asser
21. Frameworks for the Resolution of Government-Central Bank Conflicts: Issues and Answers
    Pierre L. Siklos
22. Supervisory Boards in Some Central Banks
    Robert Sparve
23. Emergency Liquidity Financing by Central Banks: Systemic Protection or Bank Bailout?
    Ross S. Delston and Andrew Campbell
24. Profits, Dividends, and Capital-Considerations for Central Banks
    Kenneth Sullivan
VII. Banking Issues: Insolvency and Supervision
25. Insolvency: Why a Special Regime for Banks?
    Eva Hüpkes
26. Issues in Cross-Border Bank Insolvency: The European Community Directive on the Reorganization and Winding-Up of Credit Institutions
    Andrew Campbell
27. The Role of Supervisory Authorities in Connection with Bank Mergers
    John V. Austin
28. Controlling Systemic Risk in an Era of Financial Consolidation
    Arthur E. Wilmarth, Jr.
VIII. Payment Systems and Supporting Frameworks
29. Risks and Developments in Payment Systems
    Kai Barvell
30. Hawala and Other Informal Payment Systems: An Economic Perspective
    John F. Wilson
31. Reimagining E-Money: Its Conceptual Unity with Other Retail Payment System
    Benjamin Geva and Muharem Kianieff
32. The Use of Contractual Structures to Create International Legal Frameworks for Electronic Commerce
    Paul Mallon
33. Restoring and Transforming Payment and Banking Systems in Postconflict Economies
    Åke Lönnberg
IX. Technology and the Financial Sector
34. The Legal Requirements for Creating Secure and Enforceable Electronic Transactions
    Thomas J. Smedinghoff
35. Electronic Banking: New Developments and Regulatory Risks
    John D. Wright
X. Monetary Arrangements
36. "Dollarization": What's in It (or Not) for the Issuing Country?
    David Altig and Ed Nosal
37. Use of a Foreign Currency Under the IMF's Articles of Agreement
    François Gianviti
XI. Securities
38. Insider Trading: A Comparative Perspective
    Marc I. Steinberg
39. Regulatory Aspects of the Draft Hague Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary
    Philippe Dupont
XII. World Trade Organization
40. Legal Aspects of the IMF/WTO Relationship: The IMF's Articles of Agreement and the WTO Agreements
    Deborah E. Siegel
41. Current Developments Regarding the WTO Financial Services Agreement
    C. Christopher Parlin
XIII. Appendixes
I. Money Laundering and Terrorism Financing
II. Emergency Liquidity Financing Provisions from 19 Countries
III. Model Statutory Language for Emergency Liquidity Financing by the Central Bank
IV. The Core Principles and Central Bank Responsibilities
Biographical Sketches