首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Who can spot the risks? The grand circle that regulators have to square is this: how to establish a framework of regulation
Who can spot the risks? The grand circle that regulators have to square is this: how to establish a framework of regulation
admin
2011-01-26
67
问题
Who can spot the risks?
The grand circle that regulators have to square is this: how to establish a framework of regulation that accommodates the characteristics of the traditional specialised banking system and mark it off from other businesses. With the sort of diversified financial services that are actually evolving, the era of strictly compartmentalised financial institutions is passing, leaving the regulatory system designed to match it looking increasingly out of date.
A single omnipotent, omniscient regulator for all financial services remains dream. Many say it will stay that way, pointing out how long it took to get agreement just on rudimentary international rules for the capital adequacy of banks. Yet regulators everywhere acknowledge the need to cooperate more closely with their opposite numbers across industrial and geographical boundaries. They also agree that greater harmonisation of regulatory standards on everything from reporting requirements to risk assessment will come surely, if slowly.
Much of that is likely to be mere tidying up. A good place to start in America would be scrapping the separate regulation of thrifts, If they have been there is little reason not to regulate them as banks (and especially given the mess thrift regulators have made of the job) . It is what Japan has sensibly done by making its equivalent of thrifts, so go banks, choose to be either credit unions or to become commercial banks. Britain, too, has let those of its building societies with ambitions to be banks, and to be regulated as such.
These are moves in another right direction to switch away from regulation by institution, as mostly happens now, to regulation by function. This means that regulation becomes a matter of supervising what is done rather than who does it.
Unsystematic deregulation has brought the system to its present ugly pass. This has left an increasing number of competitive anomalies. Much of the pressure for, and resistance to, further change comes from those institutions that wish to alleviate or entrench their market disadvantage. In both America and Japan, the debates about reforming the domestic financial systems, and in particular about updating Glass - Steagall and Article 65 respectively, have been slowed by political horse - trading. This is making worse a situation in which competition is keeping the prices of many financial services artificially low and capacity artificially great in a way that cannot be sustained for long. Systemic risk gets greater, not less, the longer the system is skewed.
The point is long past at which regulators might have been able to force market practices back into the old regulatory framework. The global competitive and technological forces against them are too powerful. Neither is the option of turning back the clock through re - regulation feasible, and few regulators show signs either of wanting to undertake such a course, or of having the stomach for the political fight it would entail. Even in Japan, where regulators hold a sway over their industries that their counterparts in Europe and America can only envy, and where the financial system is being emerging new economy. This is being done with the grain of market forces, not against it.
Which of the following are mentioned in Paragraph 5 as being problems in the present sys- tem?
选项
A、Prices are too high and capacity too low.
B、Change is being stopped by vested interests.
C、Politics are preventing reform in some countries.
D、Risk is decreasing by keeping the present system.
答案
A
解析
转载请注明原文地址:https://kaotiyun.com/show/CAYd777K
0
初级(银行综合类)
原金融专业英语(FECT)
金融英语(FECT)
相关试题推荐
MaryandIbought______someoranges.
[A]between[B]atlast[C]pencil[D]office[D]plane[F]aunt[G]dictionaryinthemiddle
Mr.Reeceis(Example:0)interestingoldman.Mr.Reeceworked【C1】______afarm.Heandhiswife【C2】______alotofthingsandthey
Theselecteddatapertaintoacompanyat31December2003asthefollowing:QuickAssets$208,000Quickratio2.6to1Current
Describemoneymarketsandcapitalmarkets.
Whichofthefollowingisusuallyleastimportantasameasureofshort-termliquidity?______.
Chinawillcontinuetopursuea【26】monetarypolicy,andseekrefinementsintheconductofmonetarypolicybyrelyingon【27】poli
IftheFederalReservesellsbondsandCongresscutstaxesandincreasesgovernmentspending,thentheU.S.governmenthas______
Arepurchaseagreementisatransactioninwhich______.
随机试题
Inthecomingeraofbudgetcutstoeducation,distancelearningcouldbecomethenorm.Thetemptationforthoseinchargeo
以下不是组织变革的目的的是()
Thehuntsmancaughtonlya______ofthedeerbeforeitranintothewoods.
属于骨折功能复位的是
患者,男,75岁。牙列缺失时间长。习惯下颌前伸,左下牙槽嵴骨吸收较右侧明显,1周前全口义齿修复。患者诉戴全口义齿讲话时和进食时上下牙有撞击声,可能是由于
下列哪项不是股肿的主要表现
X-连锁低丙球蛋白血症是属于()
我国从本国国情出发,在比较不同国家对三次产业不同归类的基础上,确定了有中国特色的()。
A、贵州B、陕西C、甘肃D、云南B
在顺序表(3,6,8,10,12,15,16,18,21,25,30)中,用二分法查找关键码值11,所需的关键码比较次数为()。
最新回复
(
0
)