Ebook: Regulation and Supervision of Financial Institutions in the NAFTA Countries and Beyond

Since the North American Free Trade Agreement (NAFTA) took effect at the start of 1994, production and trade in goods and services have become ever more integrated in the region. Banking and financial systems thus also must increasingly inform, adjudicate, transact, invest, insure, and intermedi­ ate all across North America. Presently, however, there is no single, or up­ to-date source of information on the banking and finance systems of the current NAFTA countries-Canada, the United States, and Mexico. Relying on top specialists from international financial organizations, central banks, regulatory authorities, and universities, this and a companion volume together bridge that information gap. The focus is not just on description but on regulatory and institution-building challenges posed by the opening up of domestic financial markets, and on the political economy of reforms. The ultimate goal is to enhance the process of safe and efficient integration by policies, regulations, and private initiatives that contribute to the welfare of people in North America and beyond. This volume goes into essential detail in assessing banking and finance regulations, supervision, and prudential and operating standards in the NAFTA countries in a global context.

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This volume goes into essential detail in assessing banking and finance regulations, supervision, and prudential and operating standards in the NAFTA countries in a global context. This volume reviews the laws, regulations, and operations of the banking and financial systems of the NAFTA countries. It addresses such issues as the fairness of national treatment accorded to foreign financial institutions, regulatory competition between agencies and system approaches, and the efficiency effects of financial conglomeration. There is an underlying concern with the control of systemic risk and moral hazards that arise in the financial sector, as well as in the payment and settlement system, and from deposit insurance. In view of the interplay of global standards and national politics, this volume gives an overview of global and European-Union (EU) approaches to sound finance (Parts I and II), before taking up regulatory competition and harmonization within and between the NAFTA partner countries (Parts III to V).

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This volume goes into essential detail in assessing banking and finance regulations, supervision, and prudential and operating standards in the NAFTA countries in a global context. This volume reviews the laws, regulations, and operations of the banking and financial systems of the NAFTA countries. It addresses such issues as the fairness of national treatment accorded to foreign financial institutions, regulatory competition between agencies and system approaches, and the efficiency effects of financial conglomeration. There is an underlying concern with the control of systemic risk and moral hazards that arise in the financial sector, as well as in the payment and settlement system, and from deposit insurance. In view of the interplay of global standards and national politics, this volume gives an overview of global and European-Union (EU) approaches to sound finance (Parts I and II), before taking up regulatory competition and harmonization within and between the NAFTA partner countries (Parts III to V).
Content:
Front Matter....Pages I-XXIII
Front Matter....Pages 1-1
Sound Finance and the Wealth of Nations....Pages 2-15
Lessons for Transitional and Developing Economies From U.S. Deposit Insurance Reform....Pages 16-35
Systemic Risk in Banking: Concept and Models....Pages 36-45
Front Matter....Pages 47-47
International Agreements in the Area of Banking and Finance: Accomplishments and Outstanding Issues....Pages 48-81
Regional Financial Integration in Europe: A Blueprint for North America?....Pages 82-124
Front Matter....Pages 125-125
Competition and Convergence of Bank Regulation in NAFTA....Pages 126-142
Trade in Financial Services in NAFTA: A Public Choice Approach....Pages 144-156
Integration and Globalization of the Canadian and U.S. Banking Industries: A Modest Role For NAFTA?....Pages 158-167
Regulatory Issues Arising from Financial Integration....Pages 168-178
Front Matter....Pages 179-179
The Evolving U.S. Legislative Agenda in Banking and Finance....Pages 180-193
Financial Conglomeration: Issues and Questions....Pages 194-209
A Financial System that Strengthens Market Forces: What is Most Needed?....Pages 210-214
Front Matter....Pages 215-215
Consolidated Supervision of Cross-Border Banking Activities: Principles and Practice in the NAFTA Context....Pages 216-227
Mexico’s Banking Crisis: Origins, Consequences, and Countermeasures....Pages 228-245
Efficiency and Risk in Small-Value, Cross-Border Payments: The North American Case....Pages 246-257
Back Matter....Pages 259-264

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This volume goes into essential detail in assessing banking and finance regulations, supervision, and prudential and operating standards in the NAFTA countries in a global context. This volume reviews the laws, regulations, and operations of the banking and financial systems of the NAFTA countries. It addresses such issues as the fairness of national treatment accorded to foreign financial institutions, regulatory competition between agencies and system approaches, and the efficiency effects of financial conglomeration. There is an underlying concern with the control of systemic risk and moral hazards that arise in the financial sector, as well as in the payment and settlement system, and from deposit insurance. In view of the interplay of global standards and national politics, this volume gives an overview of global and European-Union (EU) approaches to sound finance (Parts I and II), before taking up regulatory competition and harmonization within and between the NAFTA partner countries (Parts III to V).
Content:
Front Matter....Pages I-XXIII
Front Matter....Pages 1-1
Sound Finance and the Wealth of Nations....Pages 2-15
Lessons for Transitional and Developing Economies From U.S. Deposit Insurance Reform....Pages 16-35
Systemic Risk in Banking: Concept and Models....Pages 36-45
Front Matter....Pages 47-47
International Agreements in the Area of Banking and Finance: Accomplishments and Outstanding Issues....Pages 48-81
Regional Financial Integration in Europe: A Blueprint for North America?....Pages 82-124
Front Matter....Pages 125-125
Competition and Convergence of Bank Regulation in NAFTA....Pages 126-142
Trade in Financial Services in NAFTA: A Public Choice Approach....Pages 144-156
Integration and Globalization of the Canadian and U.S. Banking Industries: A Modest Role For NAFTA?....Pages 158-167
Regulatory Issues Arising from Financial Integration....Pages 168-178
Front Matter....Pages 179-179
The Evolving U.S. Legislative Agenda in Banking and Finance....Pages 180-193
Financial Conglomeration: Issues and Questions....Pages 194-209
A Financial System that Strengthens Market Forces: What is Most Needed?....Pages 210-214
Front Matter....Pages 215-215
Consolidated Supervision of Cross-Border Banking Activities: Principles and Practice in the NAFTA Context....Pages 216-227
Mexico’s Banking Crisis: Origins, Consequences, and Countermeasures....Pages 228-245
Efficiency and Risk in Small-Value, Cross-Border Payments: The North American Case....Pages 246-257
Back Matter....Pages 259-264
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