Regional Financial Conglomerates: A Case for Improved Supervision

Author/Editor:

Thorvardur Tjoervi Olafsson ; Julia Majaha-Jartby

Publication Date:

June 1, 2005

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

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.

Series:

Working Paper No. 2005/124

Subject:

Banking Financial conglomerates Financial crises Financial services Foreign banks

English

Publication Date:

June 1, 2005

ISBN/ISSN:

9781451861433/1018-5941

Stock No:

WPIEA2005124

Pages:

42

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