Safeguarding financial stability : theory and practice

Safeguarding financial stability : theory and practice / Garry J. Schinasi.

How is finance related to economic processes, and why should it be viewed as a public good requiring policy action? This book provides an answer and also: 1) develops a practical framework for safeguarding financial stability, which encompasses both prevention and resolution of problems, and 2) exam...

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Bibliographic Details
Main Author: Schinasi, Garry J. (Author)
Format: eBook
Language:English
Published: [Washington, D.C.] : International Monetary Fund, [2006]
Subjects:
Banks and banking, Central.
Finance.
Risk.
finance.
BUSINESS & ECONOMICS > Banks & Banking.
Banks and banking, Central
Finance
Risk
Centrale banken.
Financieel beleid.
Risk management.
Credit.
Financial Institutions.
Financial System.
OTC.
Japan.
United Kingdom.
United States.
Online Access:Click for online access
Table of Contents:
  • 1. Introduction and Summary
  • Part I. Foundations
  • 2. Money, Finance, and the Economic System
  • 3. Public Policy Aspects of Finance
  • 4. Efficiency and Stability
  • Part II. Toward a Framework for Financial Stability
  • 5. Defining Financial Stability
  • 6. Framework for Financial Stability
  • 7. Role of Central Banks in Ensuring Financial Stability
  • Part III. Benefits and Challenges of Modern Finance
  • 8. Challenges Posed by the Globalization of Finance and Risk
  • 9. Systemic Challenges Posed by Greater Reliance on Over-the-Counter Derivatives Markets
  • 10. Market for Credit Risk Transfer Vehicles: How Well Is It Functioning and What Are the Future Challenges?
  • 11. Systemic Implications of the Financial Market Activities of Insurance and Reinsurance Companies
  • 12. Ongoing National and Global Challenges
  • 1.1. Changes in Key Financial Aggregates
  • 1.2. Distribution of Financial Sector Mergers and Acquisitions, 1991-1999
  • 1.3. Cross-Border Transactions in Bonds and Equities
  • 1.4. Outstanding International Debt Securities by Nationality of Issuer
  • 1.5. Exchange-Traded Derivative Financial Instruments: Notional Principal Amounts Outstanding and Annual Turnover
  • 1.6. Market Turbulence and Crises in the 1990s and Early 2000s
  • 2.1. Finance as a Temporary Exchange of Services
  • 2.2. Relative Values of Services
  • 3.1. Typology of Benefits from Goods, Based on Characteristics of the Goods
  • 6.1. Source of Risk to Financial Stability
  • 6.2. IMF Financial Soundness Indicators: Core and Encouraged
  • 6.3. Policy Instruments for Financial Stability
  • 8.1. Cross-Border Transactions in Bonds and Equities
  • 8.2. International Equity Issues by Selected Industrial and Developing Countries and Regions
  • 8.3. Outstanding International Debt Securities by Nationality of Issuer for Selected Industrial and Developing Countries and Regions
  • 8.4. Major Industrial Countries: Bank Deposits of Commercial Banks
  • 8.5. Major Industrial Countries: Bank Loans of Commercial Banks
  • 8.6. Major Industrial Countries: Tradable Securities Holdings of Commercial Banks Assets
  • 8.7. Major Industrial Countries: Financial Assets of Institutional Investors
  • 9.1. Top 20 Derivatives Dealers in 2004 and Their Corresponding Ranks in 2003
  • 9.2. Global Over-the-Counter Derivatives Markets: Notional Amounts and Gross Market Values of Outstanding Contracts by Counterparty, Remaining Maturity, and Currency
  • 11.1. Life Insurance: Premium Growth Rates
  • 11.2. Profitability Decomposition of Major Nonlife Insurance Markets
  • 1.1. Composition of Key Financial Aggregates in 1970 and 2000
  • 1.2. Growth of Key Financial Assets, 1970-2004
  • 1.3. Financial Sector Mergers and Acquisitions, 1990-1999
  • 2.1. Evolution of Modern Finance
  • 4.1. Private Demand and Supply Equal to Social Demand and Supply
  • 4.2. Private Marginal Benefit Below Social Marginal Benefit
  • 4.3. Private Marginal Cost Below Social Marginal Cost
  • 4.4. Stable Disequilibrium
  • 6.1. Stylized View of Factors Affecting Financial System Performance
  • 6.2. Framework for Maintaining Financial System Stability
  • 9.1. Structure of OTC Derivatives Markets, End-December 2003
  • 10.1. Global Credit Derivatives Market Size and Structure
  • 10.2. Key Characteristics of Credit Derivatives Markets
  • 10.3. Spread Between Credit Derivatives Premium and Underlying Bond Spread
  • 11.1. Shares of Total Financial Assets of Institutional Investors and Banks: United States and Japan
  • 11.2. Shares of Total Financial Assets of Institutional Investors and Banks: Selected Euro Area Countries and the United Kingdom
  • 11.3. Holdings of Financial Securities by Insurance Companies and Banks
  • 11.4. Holdings of Securities Relative to Market Size
  • 11.5. United States: Corporate and Foreign Bonds
  • 11.6. Balance Sheet Assets of Insurance Companies: United States and Japan
  • 11.7. Balance Sheet Assets of Insurance Companies: Selected Euro Area Countries and the United Kingdom
  • 11.8. Global Insurance Industry Results
  • 11.9. Nonlife Insurance: Combined Ratios in the Industrial Countries
  • 3.1. Prisoner's Dilemma
  • 3.2. Sources of Market Failure in Finance
  • 3.3. Samuelson's Store of Value as a "Social Contrivance" Providing a Public Good
  • 6.1. Remedial Action: Dutch Housing Market Boom in the 1990s
  • 6.2. Crisis Resolution: Terrorist Attacks on September 11, 2001
  • 9.1. Role of OTC Currency Options in the Dollar-Yen Market
  • 9.2. Long-Term Capital Management and Turbulence in Global Financial Markets
  • 9.3. Role of Derivatives in Crises in Emerging Markets
  • 9.4. Sources of Legal Uncertainty in the U.S. Regulatory Environment
  • 10.1. Financial Implications of Enron's Bankruptcy.

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