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
57
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financial institutions is passing, leaving the regulatory system designed to match it looking increasingly out of date.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 "circle" do "the regulators have to square" according to paragraph 1?
选项
A、To create a regulatory system that controls banks tightly enough.
B、To create a regulatory system that treats banks exactly like other financial institutions.
C、To create a regulatory system which limits financial innovations.
D、To create a regulatory system which provides a special position for banks.
答案
A
解析
转载请注明原文地址:https://kaotiyun.com/show/kAYd777K
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
Canyousee______bottomoftheswimming-pool?
Thisbuswill______youtothecentreofthetown.
Mr.Reeceis(Example:0)interestingoldman.Mr.Reeceworked【C1】______afarm.Heandhiswife【C2】______alotofthingsandthey
Mr.Blackwasyoungandable.Thebosslikedhim.LastmonthhewassenttoChinaonbusiness.BeforehewentbackfromChina,h
FEIFEIELEVATORSisoneoftheleadingelevatorcompaniesintheworldwithmorethan120branchcompanies(分公司)aroundtheglobe.
Listany4factorsincludedintheapproachthatHKMAadoptedinassessingtheadequacyofafinancialinstitution’sliquidity.
Describemoneymarketsandcapitalmarkets.
IftheFederalReservesellsbondsandCongresscutstaxesandincreasesgovernmentspending,thentheU.S.governmenthas______
Thedifferencebetweenfiscalpolicyandmonetarypolicyisthat______.
Iftheeconomyisintheliquiditytrap,anincreaseinthemoneysupply______.
随机试题
关于注册会计师与治理层就独立性问题的沟通,以下说法中,恰当的有()。
74Inrecentyearsanewandseriousproblemhasarisenforinternationalairlinesandtheirpassengers.Thisistherelatively
下列窦腔开口位置正确的是
关于各期肝性脑病的临床表现,下列哪项是错误的
A.早晨4时B.上午8时C.中午12时D.下午7时E.午夜以后硫酸亚铁服药的最佳时间是
关于钢筋混凝土连续梁、板受力特点的说法,正确的有()。
游客病危,需要送往急救中心或医院抢救时,需由患者家属、领队或患者亲友陪同前往。()
下图示意北半球某区域某年1月5日14时和6日8时海平面气压(单位:百帕)分布,读图完成下列问题。5日14时~6日8时,①地()
Everybodyknowshowtolearn.Learningisanaturalthing.Itbeginsthe【C1】_______weareborn.Ourfirstteachersareourfamil
Terroristsmurderandkidnappeople,______bombs,hijackairplanes,setfires,andcommitotherseriouscrimes.(中国人民大学2010年试题)
最新回复
(
0
)