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Effective Bank Regulation and Supervision: Lessons from the Financial Crisis
Searching Finance, June 2010, Pages: 150
A new and unique insider view of what actually works, what ought to work, what prevents it from working, and what needs to be done about it – industry experts who have to implement and work within regulatory systems give the real best practice picture The recent financial crisis has unleashed a flood of views on what happened, why it happened, and what new regulatory measures and structures might prevent or mitigate such crises in the future. Effective Bank Regulation and Supervision: Lessons from the Financial Crisis takes a different approach. Based on in-depth interviews with more than 30 senior, experienced bankers, regulators and supervisors, academics, management consultants, ratings agencies and securities analysts, all deeply involved in the regulatory process, it seeks to answer two key questions:
- Which bank regulators around the world have demonstrated relatively superior results in terms of regulatory outcomes?
- What lessons for the future can be drawn from their experience?
The result is a ground-breaking insight into the likely future success of bank regulation and the key factors which will determine such outcomes. The role of regulation or supervision in the future stability of the global banking system has never been more important than now, and never has the conduct of banks and their regulators been under closer scrutiny.
- How can regulation work without effective supervision?
- What about the virtues of principles-based, as opposed to rules-based regulation?
Among the hundreds of bank regulators around the world are examples of what works and what doesn’t as the ‘new normal’ in bank regulation is introduced. By gathering as much evidence as possible of best regulatory practice under fire during the recent financial crisis, Effective Bank Regulation and Supervision: Lessons from the Financial Crisis provides some thoughtful insights and positive lessons for regulators and those responsible for the regulatory function – and to lay out clearly the conclusions from their collective experience.
- “… Required reading for anyone with a stake in strengthening the financial system – which is pretty much all of us.' Robert P. Kelly, Chairman and CEO, BNY Mellon
- “Steve Davis has always been innovative in looking at the banking industry, and in writing about its challenges and opportunities. Highlighting the various regulators’ roles, both in their benefits and shortcomings, will usefully inform the debate on the future shape of the industry.” Sir Win Bischoff, Chairman, Lloyds Banking Group plc
- This is a tour de force of bank regulation. Steve Davis provides an excellent insight into bank regulatory systems, investigating the mechanics of who got it right and who failed in providing appropriate oversight of their banking systems over the crisis. A series of lucid and insightful bank regulator case studies reports the experiences of key players and highlights major areas for reform.
- A must-read for anyone interested in bank regulation pre- and post-crisis.” Professor Philip Molyneux, Bangor University
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