Skip to main content Accessibility help
×
Hostname: page-component-586b7cd67f-tf8b9 Total loading time: 0 Render date: 2024-11-23T00:12:43.490Z Has data issue: false hasContentIssue false

6 - The Other Networks of Financial Regulation

Published online by Cambridge University Press:  22 November 2019

David Zaring
Affiliation:
University of Pennsylvania
Get access

Summary

This chapter reviews the accomplishments of the networks that form the periphery, rather than the core, of financial regulation, and places them into the larger context of international financial regulation. It is organized around their roles in the signature post-crisis regulatory institution: The Financial Stability Board’s “Compendium of Standards,” which looks to core principles from networks beyond the Basel Commission, IOSCO, and IAIS that it views as fundamental for a well-working system of financial oversight. The existence of so many financial regulatory institutions, even if some are quite small and amount to little more than task forces within the ambit of the Basel Committee, suggests that financial regulation still remains a task-specific, disaggregated enterprise. Consider, for example, deposit insurance. It is conceivable that the Basel Committee or IAIS could develop principles for effective deposit insurance on their own; deposit insurance contributes to financial stability, which is the raison d’etre of the Basel Committee, and it’s an insurance product that insurance supervisors, in theory, understand (perhaps only in theory – deposit insurance is more commonly thought of as a tool for bank regulators). The fact that Basel and the IAIS haven’t done so is a testament to the regulatory fragmentation of financial oversight.

Type
Chapter
Information
Publisher: Cambridge University Press
Print publication year: 2019

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×