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Regional Financial Conglomerates: A Case for Improved Supervision

Author

Listed:
  • Mr. Thorvardur Tjoervi Olafsson
  • Ms. Julia Majaha-Jartby

Abstract

The paper's central theme is that where a financial crisis emerges, regional supervisors should have systems in place to effectively respond to their country-specific crises and-in the case of foreign operations and financial conglomerates-to collaborate comprehensively with other supervisory agencies and respective ministries to avert a regional crisis or address the immediate crisis at hand. For financial institutions to expand across borders without undermining regional and global financial stability, supervisory agencies must develop the capacity to collaboratively and collectively handle crises.

Suggested Citation

  • Mr. Thorvardur Tjoervi Olafsson & Ms. Julia Majaha-Jartby, 2005. "Regional Financial Conglomerates: A Case for Improved Supervision," IMF Working Papers 2005/124, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2005/124
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=17864
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    References listed on IDEAS

    as
    1. George Soros, 1999. "The International Financial Crisis," Challenge, Taylor & Francis Journals, vol. 42(2), pages 58-76, March.
    2. Philipp Hartmann & Angela Maddaloni & Simone Manganelli, 2003. "The Euro-area Financial System: Structure, Integration, and Policy Initiatives," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 19(1), pages 180-213.
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    Cited by:

    1. Mr. Martin Cihak & Mr. Jörg Decressin, 2007. "The Case for a European Banking Charter," IMF Working Papers 2007/173, International Monetary Fund.
    2. Grégory Nguyen & Peter Praet, 2006. "Cross-border crisis management : a race against the clock or a hurdle race ?," Financial Stability Review, National Bank of Belgium, vol. 4(1), pages 151-173, June.
    3. Berger, Helge & Hefeker, Carsten, 2006. "Does Financial Integration Make Banks Act More Prudential? Regulation, Foreign Owned Banks, and the Lender-of-Last Resort," HWWA Discussion Papers 339, Hamburg Institute of International Economics (HWWA).
    4. Helge Berger & Carsten Hefeker, 2008. "Does financial integration make banks more vulnerable? Regulation, foreign owned banks, and the lender-of-last resort," International Economics and Economic Policy, Springer, vol. 4(4), pages 371-393, February.

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