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Regulation and Supervision

In: Central Banking in Developing Countries

Author

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  • Anand Chandavarkar

Abstract

Even the most unreconstructed monetary libertarian would be hard put to it to controvert the rationale for at least a basic regulatory and supervisory framework for the banking and financial system, a position which, however, leaves room for legitimate debate on the extent, nature, scope, and forms of regulation. This is an area which raises a whole cluster of critical interrelated issues. What, in fact, is the case for regulation, or re-regulation, now that liberalization and deregulation of the financial system are an accepted policy objective and most developing countries are well-set on the path to substantial liberalization? Is the central bank necessarily the most appropriate agency for supervision? What are the typical problems encountered in supervision, and what measures are necessary and desirable to enhance the efficiency of the supervisory process in developing countries? What is the appropriate role for the central bank as a lender of last resort? Is deposit insurance a necessary adjunct to the prudential framework of the banking system?

Suggested Citation

  • Anand Chandavarkar, 1996. "Regulation and Supervision," Palgrave Macmillan Books, in: Central Banking in Developing Countries, chapter 5, pages 74-94, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37150-7_5
    DOI: 10.1057/9780230371507_5
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