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Financial System Standards and Financial Stability

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  • David Marston
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    Abstract

    The relationship between the observance of financial system standards and financial stability is complex owing to the multitude of macroeconomic and structural factors affecting stability. Therefore, assessments of standards in terms of technical criteria for compliance needs to be reinforced with additional information on other factors affecting risks in order to assess financial stability. Preliminary evidence from country data on observance of Basel Core Principles (BCPs) suggests that indicators of credit risk and bank soundness are primarily influenced by macroeconomic and macroprudential factors and that the direct influence of compliance with Basel Core Principles on credit risk and soundness is insignificant. BCP compliance could, however, influence risk and soundness indirectly through its influence on the impact of other macro variables.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 01/62.

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    Length: 33
    Date of creation: 01 May 2001
    Date of revision:
    Handle: RePEc:imf:imfwpa:01/62

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    Keywords: Basel Core Principles; Bank supervision; standards; banking; bank soundness; banking supervision; regulation; standards and codes; regulations; international standards; regulatory standards; consolidated supervision; banking sector; prudential regulation; international accounting standards; internal control; bank for international settlements; banking system; liquid asset; level playing field; bank liquidity; international banking standards; internationally accepted standards; bank of canada; macroeconomic stability; capital adequacy; bank management; bank capital; bank operations; clearing system; international accounting standards committee; banking sector development; banking supervisors; bank staff; central banking; bank runs; capital mobility; bank lending; country comparison; foreign exchange; bank problems; loan classification; bank lending operations; nonperforming loan; liability management; banking stability; bank of england; bank regulations;

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    References

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    1. Muller, P. & M. Zelmer, 1999. "Greater Transparency in Monetary Policy: Impact on Financial Markets," Technical Reports 86, Bank of Canada.
    2. Kenneth Rogoff, 1999. "International Institutions for Reducing Global Financial Instability," Journal of Economic Perspectives, American Economic Association, vol. 13(4), pages 21-42, Fall.
    3. Raghuram G. Rajan & Luigi Zingales, . "Financial Dependence and Growth," CRSP working papers 344, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
    4. J. Caprio & P. Honohan, 2000. "Restoring Banking Stability: Beyond Supervised Capital Requirements," South African Journal of Economics, Economic Society of South Africa, vol. 68(1), pages 5-22, 03.
    5. Tarkka, Juha & Mayes, David, 1999. "The Value of Publishing Official Central Bank Forecasts," Research Discussion Papers 22/1999, Bank of Finland.
    6. William F. Treacy & Mark S. Carey, 1998. "Credit risk rating at large U.S. banks," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Nov, pages 897-921.
    7. repec:fth:bfdipa:22/99 is not listed on IDEAS
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    Cited by:
    1. Demirguc-Kunt, Asli & Detragiache, Enrica & Tressel, Thierry, 2006. "Banking on the principles : compliance with Basel Core Principles and bank soundness," Policy Research Working Paper Series 3954, The World Bank.
    2. Patrick Van Roy, 2005. "The impact of the 1988 Basel Accord on banks' capital ratios and credit risk-taking: an international study," Finance 0509013, EconWPA.
    3. Delis, Manthos D & Staikouras, Panagiotis, 2009. "On-site audits, sanctions, and bank risk-taking: An empirical overture towards a novel regulatory and supervisory philosophy," MPRA Paper 16836, University Library of Munich, Germany.
    4. repec:hal:cepnwp:hal-00574161 is not listed on IDEAS
    5. Ghosh, Saibal, 2005. "Evolving International Supervisory Architexture: Design, Rationale and Policy Reforms," MPRA Paper 17180, University Library of Munich, Germany.
    6. Asli Demirgüç-Kunt & Enrica Detragiache, 2010. "Basel Core Principles and Bank Risk," IMF Working Papers 10/81, International Monetary Fund.
    7. Barry Eichengreen, 2009. "From the Asian crisis to the global credit crisis: reforming the international financial architecture redux," International Economics and Economic Policy, Springer, vol. 6(1), pages 1-22, June.
    8. Enrica Detragiache & Thierry Tressel & Asli Demirgüç-Kunt, 2006. "Bankingon the Principles," IMF Working Papers 06/242, International Monetary Fund.
    9. Jordan, Cally & Majnoni, Giovanni, 2002. "Financial regulatory harmonization and the globalization of finance," Policy Research Working Paper Series 2919, The World Bank.
    10. Andrew Tiffin & Christian B. Mulder & Charalambos Christofides, 2003. "The Link Between Adherence to International Standards of Good Practice, Foreign Exchange Spreads, and Ratings," IMF Working Papers 03/74, International Monetary Fund.
    11. repec:hal:wpaper:hal-00574161 is not listed on IDEAS
    12. Pasali, Selahattin Selsah, 2013. "Where is the cheese ? synthesizing a giant literature on causes and consequences of financial sector development," Policy Research Working Paper Series 6655, The World Bank.

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