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Reinventing financial regulation : a blueprint for overcoming systemic risk /
Reinventing Financial Regulation offers an analysis of the fundamental flaws that plague the current system of financial regulation, one built around ideas of "risk-sensitivity" and "capital adequacy." Author Avinash Persaud argues that while some sensible reforms have been intro...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Berkeley, California] :
Apress,
[2015]
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| Temas: | |
| Acceso en línea: | Texto completo (Requiere registro previo con correo institucional) |
Tabla de Contenidos:
- Chapter 1: Reinventing Financial Regulation; Chapter 2: Why Do We Regulate Finance?; Introduction: Why Regulate?; Market Failures in Finance That Require Specialized Regulation; Lack of Consumer Protection; Systemic Risks; A Brief History of Financial Crises and Their Regulatory Response; Post-Bretton Woods; Banking Regulation Today; An Overreliance on Bank Capital; Chapter 3: What Causes Financial Crashes; Solutions in Search of a Problem; The Politicization of Financial Crashes; The Bad Apple Theory of Financial Crises; What Causes Banking Crises?
- Addressing the Boom Fools or Knaves?; The Failure of Risk-Based Capital to Safeguard the System; Structural Risk Limits Are Better; Chapter 4: Why Taxpayers Need to Be on the Hook; Locking Up Bankers May Be Satisfying; Why "Bail- Ins " Won't Work; Why Eliminating " Too-Big-to-Fail " Is Not a Solution to Systemic Risk; Ring Fencing ; Chapter 5: How Should We Regulate the Financial System?; Financial Regulation and Procyclicality; Macroprudential Responses; Risk Managing the Financial System; Risk-Absorptive Capacity; Conclusion; Chapter 6: Putting the New Framework to the Test.
- What's Wrong with the Current Approach to Insurance Regulation? The Fundamental Principles of Investment Risk ; How to Hedge Different Investment Risks; Different Capacities to Hedge Different Risks; The Challenge for Long-Term Investors Is Short-Fall Risk, Not Short-Term Volatility; The S & P 500, Life Insurers, Pension Funds, and Solvency II; Consumer Protection ; Systemic Risks ; Economic Growth; What Is to Be Done?; Conclusion; Chapter 7: Protecting Consumers; Why Do Financial Consumers Need More Protection Than Other Consumers?; The Elements of Modern Consumer Protection.
- The Historical Evolution of Modern Consumer Protection Regulation Is the Current Approach Working?; What Is the Problem We Need to Solve?; Should We Clamp Down On Hedge Funds and the Like In the Name of Consumer Protection?; Individual Capacity for Risk and Loss; Conclusion; Chapter 8: How Accounting, Credit, and Risk Standards Create Risk; From Bank Finance to Market Finance; The Perils of Homogeneity; Reintroducing and Developing Diversity in a Financial System; A Different Approach to Value Accounting; Accounting Treatment of Long-Term Savings Institutions; Conclusion.
- Chapter 9: What to Do About Complex Financial Instruments Political Pressures Postcrash; A Fundamental Defense of Complexity; Why We Need Over-the-Counter Markets or Even "Dark Pools"; Conclusion; Chapter 10: Bankers' Pay; Incentives Matter; A Brief History of Compensation Arrangements in Banking; Stock Options Were Also Part of the Zeitgeist of the 1980s and 1990s; When the Music Is Playing, You Have to Get Up and Dance; Stock Options, T rader Bonuses, and Gambling for Redemption; Current Proposals and Their Challenges; Psychology of Incentives; Conclusion.