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
69
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financial institutions is passing, leaving the regulatory system designed to match it looking increasingly out of date.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
NobodybutJane______Sam’saddress.
[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
Ofthosethreecompanies,the______givesthebestservice.
JackhisJoblastweek.Itwasdifficultforhimtofindanother【C1】______.【C2】______toldhimthatitwaspossibletogetanew
Mr.Blackwasyoungandable.Thebosslikedhim.LastmonthhewassenttoChinaonbusiness.BeforehewentbackfromChina,h
Alifeinsurancepolicythathasaconstantpremiumthroughthelifeofthepolicyiscalleda______.
Thepercentageanalysisofincreasesanddecreasesincorrespondingitemsincomparativefinancialstatementsiscalled______.
TheInternationalMonetaryFundwasoriginallyestablishedto______.
随机试题
为什么刑讯逼供在刑事诉讼中屡禁不止?结合有关规定分析原因,并给予评论。(北大2005年研)
Students’PressureStudents’【C1】______(press)sometimescomesfromtheirparents.Mostparentsarewellmeaning,butsomeof
世界多极化的发展趋势在进入21世纪之后日趋明显,这主要是因为()。
下述属于灭菌法的是
A.腹膜炎B.腹膜纤维化C.腹透管移位D.腹透管周围网膜包绕E.腹透管堵塞某患者尿毒症腹膜透析近3年,过程顺利,1天前发现腹透液完全不能流出,最大可能原因是
( )分别适用于车辆、船舶等运输设备和机器、设备等计提折旧。
某施工企业2014年利润总额为4030万元,该企业所得税费用为530万元,净利润是()。
根据下列资料,回答下列问题。2009年1~8月,电子信息产业500万元以上投资项目完成固定资产投资2371.4亿元,同比增长15.8%,增速低于去年同期12.3个百分点,低于全国制造业水平11.5个百分点。从行业看,家用视听行业投资48.8亿元
结构化程序设计主要强调的是(46)。
Whiletheworld’sflufightershaveconcentratedoncounteringtheH1N1swineflu,birdfluH5N1hasquietlycontinuedtotakei
最新回复
(
0
)