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Prudential Control: Private Rule in the Regulation of Global Finance

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  • Christian Chavagneux

Abstract

[eng] The rules established by the Basel Committee on Banking Supervision do not seem to provide the condition for a safe international financial system. After the creation of an international public rule, the Cooke ratio, in the 1980s, financial supervisors have left to the private sector the authority to write the new regulatory standards of the 1990s. The new rules ended up with a weaker quality of risk supervision. In spite of that result, the Basel Committee is now following the same logic in credit risk operations. Paradoxically, this contribute to make international finance a zone of international ungovernance. . JEL Classifications : G28

Suggested Citation

  • Christian Chavagneux, 2000. "Prudential Control: Private Rule in the Regulation of Global Finance," Revue d'Économie Financière, Programme National Persée, vol. 60(5), pages 47-58.
    • Handle: RePEc:prs:recofi:ecofi_1767-4603_2000_num_60_5_4504
    DOI: 10.3406/ecofi.2000.4504
    Note: DOI:10.3406/ecofi.2000.4504
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    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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