Regulatory and Supervisory Independence and Financial Stability
By:Mr. Michael Taylor,Mr. Marc Quintyn
Published on 2002-03-01 by International Monetary Fund
Despite its importance, the issue of financial sector regulatory and supervisory independence (RSI) has received only marginal attention in literature and practice. However, experience has demonstrated that improper supervisory arrangements have contributed significantly to the deepening of several recent systemic banking crises. In this paper we argue that RSI is important for financial stability for the same reasons that central bank independence is important for monetary stability. The paper lays out four key dimensions of RSI-regulatory, supervisory, institutional and budgetary-and discusses ways to achieve them. We also discuss institutional arrangements needed to make independence work in practice. The key issue in this respect is that agency independence and accountability need to go hand in hand. The paper discusses a number of accountability arrangements.
This Book was ranked at 37 by Google Books for keyword independence.
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Book which was published by International Monetary Fund since 2002-03-01 have ISBNs, ISBN 13 Code is 9781451893748 and ISBN 10 Code is 1451893744
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