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Full-Text Articles in Law
Risk Management, Responsive Regulation, And Oversight Of Structured Financial Product Markets, Janis P. Sarra
Risk Management, Responsive Regulation, And Oversight Of Structured Financial Product Markets, Janis P. Sarra
All Faculty Publications
Globally, regulators, supervisory authorities, and governments are grappling with what have now been identified as systemic risk factors that contributed to the recent global financial crisis. Internationally, the Basel Committee on Banking Supervision and other organizations are developing standards to identify and address systemic risk, suggesting that the extent of regulation or exemption from it can serve as a mechanism by which risk is transferred within the financial system. The Cross-border Bank Resolution Group of the Basel Committee has developed ten recommendations as a result of its stocktaking of lessons learned from the financial crisis.' The Financial Stability Board (FSB), …
Prudential, Pragmatic And Prescient, Reform Of Bank Resolution Schemes, Janis P. Sarra
Prudential, Pragmatic And Prescient, Reform Of Bank Resolution Schemes, Janis P. Sarra
All Faculty Publications
The 2008-2009 global financial crisis highlighted the interdependency of financial institutions and markets worldwide. Globally, fiscal support packages totaling 3 trillion USD were introduced, placing enormous strain on the public finances of a number of countries. Even in jurisdictions such as Canada, with relatively well-managed banking systems, a generalized loss of confidence led to a sharp rise in funding costs. The largest negative effects of the financial crisis on the Canadian economy stemmed from crises originating in other countries, with adverse contagion effects on the Canadian banking system, making it very difficult for Canadian banks to fund themselves in foreign …