Wednesday, April 30th, 2008
In most fields of regulation, even on the national level, organisation representing private interests or corporations have a saying. Private interestes are expressed through lobbyism and public relation activities, but the governance system in most states is characterized by representatives from the relevant industries having their say in standard-setting and ...
Posted in Memo | No Comments »
Sunday, April 20th, 2008
When academics, analysts and scholars analyze the causes and remedies for the current credit crisis, most of them analyze macro-economic trends such as exchange rate movements, or micro-economic changes such as Basel II.
How the global financial architecture evolved and how that influences the probability of crisis is very rarely discussed. ...
Posted in Memo | No Comments »
Thursday, April 17th, 2008
To speak about systemic risks only makes sense when analyzing a large system, such as the international financial markets. The financial markets are the quintessential traders of risk, because risks from investments, macro- and micro-economic policy, technological innovation and behaviour of market participants is constantly assessed and priced.
The existence of ...
Posted in Discussions | No Comments »
Monday, April 14th, 2008
Alexander, Eatwell and Dhumale make this causal explanation for the need of Global Financial Governance (p. 14):
In the post-Bretton-Woods-Era, banks and financial instutions have adopted innovative financial instruments to diversify earnings and to hedge against credit and market risk.
[Is this really the case? Wasn't it rather to hedge primarily ...
Posted in Memo | 1 Comment »
Sunday, April 13th, 2008
The G7 Finance Ministers met yesterday at the IMF Spring Meeting and approved a report prepared by the Financial Stability Forum, the main forum bringing together Central Banks, Regulators and Finance Ministers. Before discussing the report in detail, it is essential to get an overview of what the FSF is ...
Posted in Reports | 3 Comments »
Wednesday, April 9th, 2008
In Hulls book about futures and options, he mentions the profound changes that the Exchanges went through. While most of the different type of futures at the Chicago Mercantile Exchange were established well before the 1970ies, the formation of options all started roughly at the same time between 1973 and ...
Posted in Memo | No Comments »
Wednesday, April 2nd, 2008
Institution: International Capital Market Association
Abbreviation: ICMA
Type: Private
Founded: 2005 (History: In 1969, banks and securities houses established the Association of International Bond Dealers (AIBD). In 1984, IPMA, the International Primary Market Association, was established by AIBD member banks as the separate trade association for the leading banks and investment banks. In ...
Posted in Organisations | 3 Comments »
Wednesday, April 2nd, 2008
Institution: Institute of International Finance
Abbreviation: IIF
Type: Private
Founded: 1983
Members Total: 350 members headquartered in more than 60 countries. Mostly commercial banks, but membership is also open to Securities firms, Fund managers. Law firms, Multinational companies, Stock exchanges, Trading companies, Central banks, Advisory firms, or Rating agencies, Multilateral agencies, or National agencies.
Membership ...
Posted in Organisations | 1 Comment »
Tuesday, April 1st, 2008
Institutions
AIBD - Association of International Bond Dealers, now ICMA.
BCBS - Basel Committee on Banking Supervision
BIS - Bank for International Settlements
CEBS - Committee of European Banking Supervisors
CEIOPS - Committee of European Insurance and Occupational Pensions Supervisors
CESR - Committee of European Securities Regulators
CGFS - Committee on Global Financial Stability
CPSS - Committee on ...
Posted in General | 3 Comments »