Arbeitspapier
Enhancing Bank Supervision in Asia: Lessons Learned from the Financial Crisis
The global financial crisis underlined that sound and effective bank regulation is vital to financial stability. Assessments of the global financial crisis invariably point to ineffective finance regulation and supervision as the main reasons for the onset of the crisis and its severity. In particular, lapses in banking regulation contributed significantly to the outbreak. The crisis reflected the failure of regulatory authorities to keep pace with financial innovation. Bank supervision had been weak by any measure. Supervisors did not conduct regular onsite bank inspections or examinations of sufficient depth. They did not properly implement risk-based supervision, and they failed to identify shortcomings in banks' risk-management methods, governance structures, and risk cultures. Meanwhile, offsite surveillance systems rely too heavily on banks' self-reported data to effectively monitor risk. Banking regulation is the primary safeguard against financial instability, but it should be supplemented by macroprudential policies and other new policy instruments now available to regulatory authorities.
- Language
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Englisch
- Bibliographic citation
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Series: ADB Economics Working Paper Series ; No. 443
- Classification
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Wirtschaft
Financial Crises
General Financial Markets: Government Policy and Regulation
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Financial Institutions and Services: Government Policy and Regulation
- Subject
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Basel Committee's core principles
finance regulation and supervision
global financial crisis
macroprudential policy
- Event
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Geistige Schöpfung
- (who)
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Zamorski, Michael J.
Lee, Minsoo
- Event
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Veröffentlichung
- (who)
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Asian Development Bank (ADB)
- (where)
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Manila
- (when)
-
2015
- Handle
- Last update
-
10.03.2025, 11:45 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Zamorski, Michael J.
- Lee, Minsoo
- Asian Development Bank (ADB)
Time of origin
- 2015
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