Financial supervision in the 21st century by A. Joanne Kellermann, Jakob de Haan, Femke de Vries

By A. Joanne Kellermann, Jakob de Haan, Femke de Vries

The monetary concern brought on monetary supervisors to take a serious examine their very own functionality. The "toolkit" to be had to supervisors is significantly extra diverse than it used to be many years in the past. Supervision has develop into extra forward-looking, bearing in mind additionally smooth controls, equivalent to ‘conduct and culture’, company governance, and company versions of economic associations. This choice of essays discusses numerous major alterations in supervision equipment and supervisory firms and examines what equipment give a contribution to ‘good supervision’ and what can kind of be anticipated of supervisors. The authors are specialists within the box and such a lot of them are affiliated to agencies chargeable for monetary supervision.

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3 Phase 1: Improving the Analysis (2008–2009) The changes in Phase 1 were primarily technical. The underlying idea was that since the global financial crisis had taken us more or less by surprise, the monitoring and analysis of potential risks to the financial sector deserved strengthening to make supervision more effective. Two aspects are singled out. First, the call for deeper analyses, especially with respect to supra-institutional dynamics. Second, the need to foster changes towards a more forward-looking financial supervision (DNB 2010a).

Restrictions stem from confidentiality as well as financial stability considerations. Financial institutions’ cooperation with the supervisor should not be impeded by the fear that information about their particular challenges will be published later. e. if market parties turned their back on affected financial institutions in a disorderly run to the exit. The second is that good supervision is a moving target. The financial sector and the environment in which it operates are constantly evolving.

If market parties turned their back on affected financial institutions in a disorderly run to the exit. The second is that good supervision is a moving target. The financial sector and the environment in which it operates are constantly evolving. Supervisors cannot and should not hold back change, but rather adapt quickly to the world around them. In this light, it is good to see that more and more supervisory authorities, both inside and outside the financial sector, put time and effort in assessing what it means to execute ‘good supervision’ in practice.

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