Advanced Search
MyIDEAS: Login to save this article or follow this journal

New Architecture Of Global Financial Supervision-Macroprudential Oversight

Contents:

Author Info

  • Dragan Miodrag Momirovic

    ()
    (Serbia and Montenegro)

Registered author(s):

    Abstract

    Lessons learned from the recent financial crisis has alarmed the relevant international financial organizations to take prompt and appropriate action towards finding a new framework of regulation and supervision of the financial system so that in future the time detect and mitigate financial trouble. Actions are oriented on the reform of the existing supervisory framework in the period of expansion of financial contagion has shown serious weaknesses. G20 leaders issued a declaration relating to the structure of a comprehensive plan for reform of financial supervision, which is focused on improving the environment macro prudential surveillance at the international level, strengthening the financial stability of the Board (FSB) with the mission to effectively coordinate and synchronize actions to relieve and defense of the financial system from financial difficulties, developing a common diagnostic standards, designing control systemic risk and responsibility. On the basis of the declaration G20 countries with strong financial markets have taken appropriate action reform and redesign of its supervisory authority. The U.S. authorized the Fed to be responsible for financial stability, with a mandate to monitor risks and controls company that may be a source of threat to the financial system, focusing on major domestic and international firms and systematically important non-banking financial institutions. EU on the basis of reports Larosière Commission has established a strong centralized institutional supervisory framework, the establishment of the European Commission for the systematic risk that is responsible for macro prudential surveillance and the European system of financial supervisors, responsible for monitoring Macro prudential composed of a network of national financial supervisors from three financial institutions supervision, the principles of mutual respect, information and strengthening accountability.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://journals.univ-danubius.ro/index.php/euroeconomica/article/view/1251/1144
    Download Restriction: no

    Bibliographic Info

    Article provided by Danubius University of Galati in its journal Euroeconomica.

    Volume (Year): (2012)
    Issue (Month): 2(31) (May)
    Pages: 88-107

    as in new window
    Handle: RePEc:dug:journl:y:2012:i:2:p:88-107

    Contact details of provider:
    Web page: http://www.euroeconomica-danubius.ro/
    More information through EDIRC

    Related research

    Keywords: macro prudential supervision; reform of the supervisory framework; systemic risk; financial stability; EU; US;

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:dug:journl:y:2012:i:2:p:88-107. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Florian Nuta).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.