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Financial Stability in the United Kingdom: Banking on Prudence

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  • E. Philip Davis

    (Brunel University)

Abstract

The UK financial market has been severely affected by the recent financial crisis. The crisis has exposed weaknesses in the supervisory framework as well as that for crisis management and resolution. This paper reviews the supervisory and regulatory framework and the many reforms that have already been adopted to remedy these weaknesses. It also provides recommendations for further reforms. This Working Paper relates to the 2009 Economic Survey of the United Kingdom (www.oecd.org/eco/surveys/uk). Stabilité financière au Royaume-Uni : miser sur la prudence Le marché financier britannique a été sévèrement touché par la crise financière. Celle-ci a mis en évidence de nombreuses faiblesses des mécanismes de contrôle et des dispositifs de gestion et de résolution des crises. Le présent chapitre examine le cadre de contrôle et de réglementation, ainsi que les nombreuses réformes qui ont déjà été adoptées pour remédier à ses faiblesses. Il s’achève par des recommandations concernant de nouvelles réformes. Ce document de travail se rapporte à l'Étude économique de l'OCDE sur le Royaume-Uni 2009 (www.oecd.org/eco/etudes/uk).

Suggested Citation

  • E. Philip Davis, 2009. "Financial Stability in the United Kingdom: Banking on Prudence," OECD Economics Department Working Papers 717, OECD Publishing.
  • Handle: RePEc:oec:ecoaaa:717-en
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    File URL: http://dx.doi.org/10.1787/222702735047
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    Cited by:

    1. Karim, Dilruba & Liadze, Iana & Barrell, Ray & Davis, E. Philip, 2013. "Off-balance sheet exposures and banking crises in OECD countries," Journal of Financial Stability, Elsevier, vol. 9(4), pages 673-681.

    More about this item

    Keywords

    financial regulation; financial stability; macroprudential issues; questions macroprudentielles; réglementation financière; stabilité financière; système bancaire du Royaume-Uni; UK banking system;

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G29 - Financial Economics - - Financial Institutions and Services - - - Other

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