Download Global Governance of Financial Systems: The International by Kern Alexander PDF

Posted On April 11, 2017 at 8:26 pm by / Comments Off on Download Global Governance of Financial Systems: The International by Kern Alexander PDF

By Kern Alexander

Ebook was once acknowledged to be "new"...far from it..a torn web page and used..also my pals ordered an identical e-book from one other vendor and it received to them inside a took over a month to get my copy..seller could be banned!

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Additional info for Global Governance of Financial Systems: The International Regulation of Systemic Risk

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S. S. S. correspondent banks. The purpose of the Patriot Act is to address the financial risks arising from international money laundering and terrorist financing. S. S. S. S. shell banks that are based in poorly regulated jurisdictions. S. financial institution. S. branches, agencies, representative offices, or bank subsidiaries. S. regulators may “contact pertinent foreign host country supervisors as appropriate to obtain information about an applicant’s anti-money laundering activities at its overseas branches or bank subsidiaries,” but they exercise final authority in deciding the adequacy of the foreign practices or regulatory system (Federal Reserve, 2002).

The proposals to amend the Capital Accord, known as Basel II, have been criticized as favoring large multinational banks at the expense of small and medium-size banks and as inappropriate for the supervisory regimes of developing and emerging market countries (Ward, 2002). Moreover, its capital calculations seek to price financial risk based on the bank’s individual risk exposure, rather than on the total risk created by all banks in the financial system. A major contention of this study is that some of the flaws in Basel II can be attributed, in part, to the flawed decision-making structure of the Committee and its recent efforts to impose its standards on non-G10 countries who have played little, if any, role in promulgating the Accord.

To ensure that its standards are adopted, the Committee expects the IMF and the World Bank to play a surveillance role in overseeing member-state adherence through its various conditionality and economic restructuring programs. The extended application of the Basel Committee’s standards to non-G10 countries has raised questions regarding the accountability of its decisionmaking structure and the suitability of its standards for developing and emerging market economies. In addition, because most G10 countries are members of the European Union, they are required by EU law to implement the Capital Accord into domestic law.

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