Advanced Search
MyIDEAS: Login

Isone Watchdog Better Than Three? International Experience with Integrated Financial Sector Supervision

Contents:

Author Info

  • Martin Cihák
  • Richard Podpiera

Abstract

Over the past two decades, there has been a clear trend toward integrating the regulation and supervision of banks, nonbank financial institutions, and securities markets. This paper reviews the international experience with integrated supervision. We survey the theoretical arguments for and against the integrated supervisory model, and use data on compliance with international standards to assess the validity of some of these arguments. We find that (i) full integration is associated with higher quality of supervision in insurance and securities and greater consistency of supervision across sectors, after controlling for the level of development; and (ii) fully integrated supervision is not associated with a significant reduction in supervisory staff.

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://www.imf.org/external/pubs/cat/longres.aspx?sk=18864
Download Restriction: no

Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 06/57.

as in new window
Length: 32
Date of creation: 01 Mar 2006
Date of revision:
Handle: RePEc:imf:imfwpa:06/57

Contact details of provider:
Postal: International Monetary Fund, Washington, DC USA
Phone: (202) 623-7000
Fax: (202) 623-4661
Email:
Web page: http://www.imf.org/external/pubind.htm
More information through EDIRC

Order Information:
Web: http://www.imf.org/external/pubs/pubs/ord_info.htm

Related research

Keywords: Financial sector; Bank supervision; Insurance regulations; Insurance supervision; Securities regulations; banking; integrated supervision; banking supervision; supervisory agencies; regulatory environment; prudential supervision; international standards; securities markets; central banking; banking publications; prudential regulation; financial supervision; financial sector supervision; supervisory agency; financial sector regulation; banking crises; securities firms; risk management; securities regulation; payment system; supervisory framework; systemic banking crisis; capital adequacy; enforcement powers; banking sector; bank involvement; banking crisis; financial standards; deposit insurance; bank failures; foreign banks; settlement systems; assessing compliance; financial crimes; financial sector assessments; bank size; banking systems; monetary authority; financial crime; national bank; internal controls; internal control; insurance supervisors; financial intermediaries; bank consolidation; banking regulation; financial soundness; financial risk; bank supervisor; nonperforming loan; level playing field; financial sector supervisors; market participants; bank for international settlements; bank of england; consolidated supervision; bank regulations;

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Gianni De Nicoló & M. G. Zephirin & Philip F. Bartholomew & Jahanara Zaman, 2003. "Bank Consolidation, Internationalization and Conglomeration," IMF Working Papers 03/158, International Monetary Fund.
  2. Udaibir S. Das & Marc Quintyn & Kina Chenard, 2004. "Does Regulatory Governance Matter for Financial System Stability? An Empirical Analysis," IMF Working Papers 04/89, International Monetary Fund.
  3. Dirk Schoenmaker, 1992. "Institutional Separation between Supervisory and Monetary Agencies," FMG Special Papers sp52, Financial Markets Group.
  4. Richard Podpiera, 2004. "Does Compliance with Basel Core Principles Bring Any Measurable Benefits?," IMF Working Papers 04/204, International Monetary Fund.
  5. Mathias Dewatripont & Jean Tirole, 1994. "The prudential regulation of banks," ULB Institutional Repository 2013/9539, ULB -- Universite Libre de Bruxelles.
  6. Udaibir S. Das & Marc Quintyn, 2002. "Crisis Prevention and Crisis Management," IMF Working Papers 02/163, International Monetary Fund.
  7. Richard K. Abrams & Michael Taylor, 2000. "Issues in the Unification of Financial Sector Supervision," IMF Working Papers 00/213, International Monetary Fund.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Ovidiu Stoica & Delia-Elena Diaconasu, 2012. "Regional Economic Integration And National Financial Supervision. A Comparative Study," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(14), pages 23.
  2. Banco Central Europeo, 2008. "La titulización en la zona del euro," Boletín, Centro de Estudios Monetarios Latinoamericanos, vol. 0(3), pages 136-149, Julio-sep.
  3. Marc Quintyn & Michael Taylor, 2007. "Building Supervisory Structures in Sub-Saharan Africa," IMF Working Papers 07/18, International Monetary Fund.
  4. Jenny Corbett, 2007. "Financial Institutions and Structures for Growth in East Asia," EABER Working Papers 21858, East Asian Bureau of Economic Research.
  5. Kenneth Sullivan, 2008. "Presentación proactiva del desempeño," Boletín, Centro de Estudios Monetarios Latinoamericanos, vol. 0(3), pages 130-135, Julio-sep.
  6. Dairo Estrada & Javier Gutiérrez Rueda, . "Supervisión y regulación del sistema financiero: Modelos, implicaciones y alcances," Borradores de Economia 490, Banco de la Republica de Colombia.
  7. Milo, Melanie S., 2007. "Integrated Financial Supervision: an Institutional Perspective for the Philippines," Discussion Papers DP 2007-17, Philippine Institute for Development Studies.
  8. Masahiro Kawai & Michael Pomerleano, 2010. "Regulating Systemic Risk," Finance Working Papers 23014, East Asian Bureau of Economic Research.
  9. Melanie S. Milo, 2007. "Integrated Financial Supervision : An Institutional Perspective for the Philippines," Finance Working Papers 22667, East Asian Bureau of Economic Research.
  10. 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.
  11. Buklemishev, O. & Danilov, Yu., 2013. "Effective Financial Regulation and Creation of the Mega-Regulator in Russia," Journal of the New Economic Association, New Economic Association, vol. 19(3), pages 82-98.
  12. Petr Musílek, 2006. "Comparison Models of the Financial Regulation and Supervision: Advantages and Disadvantages," Český finanční a účetní časopis, University of Economics, Prague, vol. 2006(4), pages 8-22.
  13. Jackson, Howell E. & Roe, Mark J., 2009. "Public and private enforcement of securities laws: Resource-based evidence," Journal of Financial Economics, Elsevier, vol. 93(2), pages 207-238, August.
  14. Bartosz Godziszewski & Michal Kruszka, 2013. "Stability of Banking System in Poland and Activity of the KNF – Polish Financial Supervision Authority," CESifo Forum, Ifo Institute for Economic Research at the University of Munich, vol. 14(1), pages 29-34, 05.
  15. Petr Musílek, 2008. "Institutional Arrangement of Financial Markets Supervision: The Case of the Czech Republic," European Financial and Accounting Journal, University of Economics, Prague, vol. 2008(4), pages 6-21.
  16. Martin Cihák & Alexander F. Tieman, 2008. "Quality of Financial Sector Regulation and Supervision Around the World," IMF Working Papers 08/190, International Monetary Fund.

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:imf:imfwpa:06/57. 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: (Jim Beardow) or (Hassan Zaidi).

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.