The Implementation of Systemic Risk Management and the Reinforcing of Macro-Prudential Supervision – Vital Elements in Avoiding the Future Occurrence of a Financial Crisis Similar to The Present One

The Implementation of Systemic Risk Management and the Reinforcing of Macro-Prudential Supervision – Vital Elements in Avoiding the Future Occurrence of a Financial Crisis Similar to The Present One

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Some of the main reasons that led to the emergence of the ongoing financial crisis stem from insufficient risk management, the de-regulation of financial institutions, the lack of macro-prudential supervision and the implementation of the free/perfect markets model. This article analyzes and discuss...

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Bibliographic Details
Main Author: Arion Negrila
Format: Article
Language:English
Published: General Association of Economists from Romania 2009-09-01
Series:Theoretical and Applied Economics
Subjects:
systemic risk
macro-prudential supervision
financial crisis
supervision bodies
financial system
Online Access: http://store.ectap.ro/articole/409.pdf
Description
Summary:Some of the main reasons that led to the emergence of the ongoing financial crisis stem from insufficient risk management, the de-regulation of financial institutions, the lack of macro-prudential supervision and the implementation of the free/perfect markets model. This article analyzes and discusses both the importance of systemic risk management and macro-prudential supervision and their effect upon the ongoing financial crisis, as well as the recent measures undertaken in this respect at the level of the European Union, USA and G20.
ISSN:1841-8678
1844-0029

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