Statistical Capacity Building: Case Studies and Lessons Learned

Current Developments in
Monetary and Financial Law, Volume 5

© 2008 International Monetary Fund

Ordering Information (Chapter 1 available below)


Contents

Preface
     
I.   LEGAL DEVELOPMENTS IN THE IMF
  1   The International Monetary Fund’s Legal Instruments to Promote Financial Stability
      Ross Leckow
 
II.   CENTRAL BANK LAW
  2   The Price Stability Mandate of the European System of Central Banks: A Legal Perspective
      Niall J. Lenihan
  3   Should a Central Bank Also Be a Banking Supervisor?
      Francisco José de Siqueira
 
III.   FINANCIAL STABILITY: OVERVIEW
  4   Understanding Financial Stability: Toward a Practical Framework
      Garry J. Schinasi
  5   Institutional Responses to Recent Episodes of Financial Instability
      Charles Enoch
  6   The Fund's Role in Sovereign Liquidity Crises
      Kern Alexander
  7   Central Banks and Financial Stability : A Survey of Financial Stability Reports
      Martin Čihák
 
IV.   RATIONALE FOR REGULATION OF DERIVATIVES AND HEDGE FUNDS
  8   Reassessing the Rationale and Practice of Bank Regulation and Supervision after Basel II
      James R. Barth, Gerald Caprio, Jr., and Ross Levine
  9   Derivatives Law in the United States: Who Regulates? What Is Regulated?
      Philip McBride Johnson
  10   Hedge Funds and the SEC: Observations on the Why and How of Securities Regulation
      Troy A. Paredes
 
V.   FINANCIAL DISCLOSURE, LIABILITY OF SUPERVISORS, AND LEGAL RISK IN FINANCIAL MARKETS
  11   "To Protect or Not to Protect, That Is the Question": Statutory Protections for Financial Supervisors—How to Promote Financial Stability by Enacting the Right Laws
      Ross Delston and Andrew Campbell
  12   Achieving Financial Stability Through Disclosure
      Roberta S. Karmel
 
VI.   ANTI-MONEY LAUNDERING— TERRORIST FINANCING AND FINANCIAL STABILITY
  13   The Broader Impact of Terrorism on Financial Stability
      Richard Barrett
  14   The Impact of Weak AML/CFT Frameworks on Financial Stability
      Zenón Alberto Biagosh
  15   Elements of an Effective AML/CFT Framework: Legal, Regulatory, and Best Institutional Practices to Prevent Threats to Financial Stability and Integrity
      Ian Carrington and Heba Shams
 
VII.   GOVERNANCE, DEPOSIT INSURANCE, AND MARKET DISCIPLINE
  16   The Moral Hazard Implications of Deposit Insurance: Theory and Evidence
      Patricia A. McCoy
 
VIII.   PAYMENTS, SETTLEMENT, AND SECURITIES INFRASTRUCTURE
  17   The Central Bank’s Role in the Payment System: Legal and Policy Aspects
      Christian A. Johnson and Robert S. Steigerwald
  18   Legal Protection of Payment and Securities Settlement Systems and of Collateral Transactions in the European Union
      Diego Devos
  19   On the U.S. Commercial Law Response to the Development of Intermediated Securities Holding Systems
      Sandra M. Rocks
  20   The Hague Securities Convention
      Christophe Bernasconi
  21   The Draft Unidroit Convention on Intermediated Securities: Transactional Certainty and Market Stability
      Herbert Kronke
 

Biographical Sketches