A Safer World Financial System: Improving the Resolution of Systemic Institutions

Stijn Claessens, Richard Herring, Dirk Schoenmaker, 08 July 2010

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Vox Talks with Stijn Claessens

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Stijn Claessens of the IMF and University of Amsterdam talks to Viv Davies about the 12th Geneva Report. Claessens discusses the trilemma of national authority, financial integration and global stability, and proposes a new concordat approach to the resolution of SIFIs on an international basis that would harmonise resolution with supervision; the authors’ view is that this will help to improve the incentives for collaboration among supervisors and enhance market stability while respecting the sovereignty of individual countries.

 

URL:  http://www.cepr.org/pubs/books/cepr/booklist.asp?cvno=P210

Topics:  Financial markets International finance

Tags:  financial regulation, global crisis, too-big-to-fail

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