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Where might the next systemic financial crisis come from? And how do we achieve financial stability in a poly crisis world? This book addresses macroeconomic factors, crypto assets, non-bank financial institutions and regulated financial service providers, keeping in mind that each sector can interact with the others to produce a cluster of risks with compounding effects.
Starling is pleased to offer the seventh edition in its annual Compendium series for 2024, a comprehensive report detailing the priorities and activities of bank regulators regarding firm culture and conduct risk management. This year's report features contributions from more than 30 senior banking industry executives, regulators and central bankers, international standard-setters, and academics. We also report on major developments, events, and analysis on culture & conduct risk management supervision across major global financial markets.
This Article IV Consultation highlights that the Dutch economy has grown faster than the euro area average over the past few years reflecting recovering consumption and investment, and strong net exports. Progress with tackling long-standing imbalances in the households and corporate sectors, and thus external imbalances, has lagged. Households remain highly leveraged and their consumption constrained by a stagnating disposable income. In the corporate sector, dominated by large multinational corporations, investment is low but savings are high, and developments are diverging with domestic small and medium enterprises relatively stagnant. Strong fiscal performance in recent years has boosted buffers that can now be used to reduce distortions and strengthen potential growth. The report recommends that it is important to harmonize tax benefits and social security contributions for different types of employment to reduce labor market duality while increasing overall labor market flexibility. Using fiscal space to address household and corporate imbalances is desirable and is unlikely to jeopardize long-term fiscal sustainability.
This 2016 Article IV Consultation highlights broad-based economic recovery in the Netherlands, which has been gathering speed. Real growth is forecast to reach 2.1 percent in 2016 owing to strong consumption and investment, reflecting improving confidence and rising housing prices, while net exports are expected to slow as a result of weak external demand. Unemployment has been rapidly declining against the backdrop of an increasing labor supply. The economy is expected to keep its momentum in the coming years. Domestic consumption and investment are forecast to remain the main drivers of growth, prompting a gradual decline in the current account surplus. Inflation is expected to pick up along with the closing of the output gap.
Global systemically important banks (G-SIBs) are the largest, most complex and, in the event of their potential failure, most threatening banking institutions in the world. The Global Financial Crisis (GFC) was a turning point for G-SIBs, many of which contributed to the outbreak and severity of this downturn. The unfolding of the GFC also revealed flaws and omissions in the legal framework applying to financial entities. In the context of G-SIBs, it clearly demonstrated that the legal regimes, both in the USA and in the EU, grossly ignored the specific character of these institutions and their systemic importance, complexity, and individualism. As a result of this omission, these megabanks ...
This book presents a selection of contributions on the timely topic of structural reforms in Western economies, written by experts from central banks, the International Monetary Fund, and leading universities. It includes latest research on the impacts of structural reforms on the market economy, especially on the labor market, and investigates the results of collective bargaining in theory and practice. The book also comprises case studies of structural reforms. A literature survey on the topic serves as a valuable source for further research. The book is written by and targeted at both academics and policy makers.
The first book-length study of the importance of collateral frameworks in monetary policy, focusing on the Eurozone and euro crisis.
The Dutch economy was more resilient than its peers during and after the pandemic. Reflecting the prevalence of telecommuting and strong fiscal support, the economy experienced a less severe recession followed by a more robust recovery than in the rest of the euro area, with no scarring expected. The labor market is tight with a low unemployment rate and high vacancies, although wage growth has so far been moderate. After hitting a record high in September, consumer price inflation eased to 11 percent in December driven by lower energy prices, while core inflation increased to 8.4 percent y/y. The economy appears to be overheating. The war in Ukraine is posing new challenges albeit the terms of trade shock has been smaller than for the rest of the euro area.
This book charts the consequences for banking supervision of two stylized developments that over the last decade have characterized the global financial landscape: the integration of cross-sector and cross-border financial services. Both developments inevitably call for a supervisory response and the authors discuss what form and direction this should take. They also address a number of other important subjects including the new Capital Accord (Basel 2), the convergence of supervisory practices, procyclicality, financial conglomerates, deposit insurance and a brief history of the interplay between banking supervision and bank behaviour. The important practical and theoretical issues highlighted in this volume clearly demonstrate that banking supervision currently stands at a crossroads. The detailed, objective discussions of these themes and the sensible conclusions drawn will undoubtedly help policymakers to decide which path to take. The original contributions from high-level practitioners and academics from around the world will also be of great interest to commercial bankers, and academics and researchers of banking, finance and monetary economics.
A groundbreaking work that paves the way for a new, pro-activefinancial system With The Monetary System, innovative author pairingJean-Francois Serval and Jean-Pascal Tranie devise a comprehensiveeconomic modeling system that accounts for the unprecedentedsituation facing international and regional economies by developinga controversial new stance on the operation of money in society.Presenting a classification of financial instruments with a viewtoward their underlying legal structures, the book sheds new lighton the present economic and financial problems of slow growth andrising debts, and proposes possible outcomes for the globaleconomy. The authors have already gained international atte...