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
55
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financial institutions is passing, leaving the regulatory system designed to match it looking increasingly out of date.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
Newspapers(报纸)Newspapersareveryimportantinourdailylife.Manypeoplebegintheirdaybyreadingthepaper.Inthiswa
DearLinda,IhavebeeninEnglandthreemonthsnow.Ihopeyoudon’tthinkI’veforgottenyou.Therehavebeensomanyplac
Thearticle______onthissubjectwaswrittenbyMr.Black.
Weight(体重)isoneofthetaboosubjects.InAmerica,itisOK,orevengood,tobethinbutitisanembarrassment(尴尬)tobeoverw
Thearticle______onthissubjectwaswrittenbyMr.Black.
A、Thesupermarketistoocrowded.B、Therearemanysupermarketshere.C、Look,justoverthere.C
A、Thesupermarketistoocrowded.B、Therearemanysupermarketshere.C、Look,justoverthere.C
Mr.WongisasmallmanufacturerofbicyclesinHongKong.Hisbusinessincurredthefollowingcostsfortheyearended31Decem
Thebalanceofpaymentsisastatisticalrecordofalltheeconomictransactionbetweenresidentsofthereportingcountryandr
trade,above,expiration,respond,strike,profitable,seller,how,most,financialIngeneral,anoptiongivestothebuyer
随机试题
下面关于菜单的叙述中正确的是()。
患者,女,20岁。晨起在操场跑步中突然摔倒,意识不清,呼吸慢呈叹息样,桡动脉脉搏触不到,5分钟内送入校医院抢救。检查:意识完全丧失,颜面青紫,大小便失禁,呼吸停止,心音消失,股动脉脉搏消失,血压测不出。对患者的即刻处理,正确的是
甲欠乙100万元,甲以自己价值50万元的房屋抵押担保。丙以价值50万元的汽车抵押担保。丁为甲提供保证,未约定保证方式,但约定丁承担保证责任直至债务人甲还清本息时为止。请回答以下问题:假设甲并未将债务转让给戊,现甲未对债权人乙履行100万元的到期债务,由
一平面简谐波的波动方程为y=2×10-2cos2π(10t-)(SI),对x=-2.5m处的质元,在t=0.25s时,它的()。
某村换届选举中,四名候选人(张老汉、田老汉、小李、小王)的得票情况为:张老汉的票数比田老汉多,田老汉的票数比小李多,小王得票没有张老汉多。得票最多的是()。
在教学活动中,贯彻启发性原则,教师应遵循的基本要求是()。
教师在教育工作中要做到循序渐进,这是因为()
____に新製品を使ってもらって次の製品の参考にします。
シャツのうりばは、このうえの3がいです。あの________でいってください。
AthevolunteersdoBbecauseshedoesnothaveaweightproblemCbecausethelifetherecanbeveryboringDmakepeopleovere
最新回复
(
0
)