The Institutional Structure of Macroprudential Policy in the UK
The Institutional Structure of Macroprudential Policy in the UK

Author: Kosmas Kaprinis

Publisher: Springer Nature

Published: 2023-06-28

Total Pages: 198

ISBN-13: 3031335767

DOWNLOAD EBOOK

Macroprudential policy (MPP) has been one of the major initiatives in the post-2008 crisis restructuring of financial regulation. Under the macroprudential mandate, the regulator monitors and judiciously controls systemic risk in the financial system, in an attempt to minimise the probability and severity of a future financial crisis. The book reveals why MPP authorities are rightfully at the centre of a highly sensitive policy debate, as MPP necessitates the allocation of significant regulatory power to technocrats, while the highly technical nature of MPP makes policy evaluation challenging. Specific issues examined include: the importance of financial stability as a public policy goal; the political economy issues stemming from the delegation of MPP to an independent authority; and the definition of accountability in the context of MPP. Focusing on a case study on the Financial Policy Committee of the Bank of England, the macroprudential authority in the UK, the book develops the normative grounds to justify the need for accountability in the conduct of MPP, while also formulating the necessary institutional framework to ensure the accountability of MPP authorities.

Financial stability and transparency
Financial stability and transparency

Author: Great Britain: Parliament: House of Commons: Treasury Committee

Publisher: The Stationery Office

Published: 2008-03-03

Total Pages: 96

ISBN-13: 9780215513892

DOWNLOAD EBOOK

The period since early August 2007 has been one of large-scale turbulence and instability in global financial markets. This report examines the causes of the dislocation of international financial markets, subsequent developments in global financial markets and lessons learnt, as well as the prospects for international action and other developments to promote financial stability and transparency. The unfolding crisis of confidence is important given the particular impact on the United Kingdom through the run on the Northern Rock Bank. The report deals with: changes in financial markets; events leading to the closure of the credit markets; events since August 2007; international action; securitisation markets; credit rating agencies; off-balance sheet vehicles; and heeding the warnings. This last chapter finds that warnings from the Bank of England and the Financial Services Authority on the deteriorating financial situation in 2007 were not taken on board by some banks and building societies.

American Airpower Comes Of Age—General Henry H. “Hap” Arnold’s World War II Diaries Vol. II [Illustrated Edition]
American Airpower Comes Of Age—General Henry H. “Hap” Arnold’s World War II Diaries Vol. II [Illustrated Edition]

Author: Gen. Henry H. “Hap.” Arnold

Publisher: Pickle Partners Publishing

Published: 2015-11-06

Total Pages: 927

ISBN-13: 1786251523

DOWNLOAD EBOOK

Includes the Aerial Warfare In Europe During World War II illustrations pack with over 180 maps, plans, and photos. Gen Henry H. “Hap.” Arnold, US Army Air Forces (AAF) Chief of Staff during World War II, maintained diaries for his several journeys to various meetings and conferences throughout the conflict. Volume 1 introduces Hap Arnold, the setting for five of his journeys, the diaries he kept, and evaluations of those journeys and their consequences. General Arnold’s travels brought him into strategy meetings and personal conversations with virtually all leaders of Allied forces as well as many AAF troops around the world. He recorded his impressions, feelings, and expectations in his diaries. Maj Gen John W. Huston, USAF, retired, has captured the essence of Henry H. Hap Arnold—the man, the officer, the AAF chief, and his mission. Volume 2 encompasses General Arnold’s final seven journeys and the diaries he kept therein.

Taming the Prerogative
Taming the Prerogative

Author: Great Britain. Parliament. House of Commons. Public Administration Select Committee

Publisher:

Published: 2004

Total Pages: 44

ISBN-13: 9780215015969

DOWNLOAD EBOOK

The prerogative powers of ministers include some of the most important functions of government, such as decisions on armed conflict and the conclusion of international treaties. This report describes how such powers have come to be delegated. It also concludes that they should be more closely regulated. It proposes that the government should prepare a list of all prerogative powers, which would be considered by a parliamentary committee. Appropriate legislation, with any required statutory safeguards, would then be put into place. A draft Bill is appended to the report.

Financial stability and depositor protection
Financial stability and depositor protection

Author: Bank of England

Publisher: The Stationery Office

Published: 2008-01-30

Total Pages: 164

ISBN-13: 9780101730822

DOWNLOAD EBOOK

Recent months have seen a period of sustained turbulence and instability in global financial markets, with financial firms across the world affected. In Britain, the Northern Rock bank experienced a run on its deposits. The Government announced a review of the existing supervisory regime, including complex areas such as the legal framework for dealing with banks facing difficulties. This consultation document sets out the views of the Government, the Financial Services Authority (FSA) and the Bank of England, responding to a discussion paper "Banking reform - protecting depositors" (HM Treasury, October 2007, http://www.hm-treasury.gov.uk/media/6/3/consult_bankingreform111007.pdf). This paper also takes into consideration the Treasury Committee's report "The run on the Rock" (5th report session 2007-08, HC 56-I, ISBN 9780215038388). The Government proposes to bring forward legislation to address five key objectives: (1) strengthening the financial system - better risk and liquidity management by banks, and improvements in valuation and credit rating agencies; (2) reducing the likelihood of banks failing - strengthening the supervisory framework and changing framework for provision and disclosure of liquidity assistance; (3) reducing the impact of failing banks - a range of tools to resolve a failing bank, including accelerated transfer of business to a healthy bank, a "bridge bank", and a bespoke banking insolvency procedure; (4) effective compensation arrangements in which consumers have confidence - a potential increase to the compensation limit for deposits, changes to enable the Financial Services Compensation Scheme to make payments within one week of a bank failing; (5) strengthening the Bank of England and improving co-ordination between authorities - retaining the tripartite regime, but giving a statutory basis for the Bank of England's financial stability role, and ensuring better governance arrangement within the Bank, and improving international co-ordination regarding financial stability issues and early warnings on global financial risks.