International Survey of Integrated Financial Sector Supervision
Despite the intense debate on the advantages and disadvantages of adopting integrated supervision that has taken place in recent years, little is known about the experiences of countries that have adopted it and the obstacles and challenges they ha...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2003/07/2475062/international-survey-integrated-financial-sector-supervision http://hdl.handle.net/10986/18144 |
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okr-10986-18144 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTABILITY ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING RULES ARBITRAGE BANKING INDUSTRY BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BROKERS CAPITAL BASE CAPITAL MARKET CAPITAL REQUIREMENTS CENTRAL BANKS COMMERCIAL LOANS COMMISSIONS CONSOLIDATION CONSUMER PROTECTION CONSUMERS CREDIT UNIONS DEBT DEPOSITORS DEREGULATION ECONOMIES OF SCALE FINANCIAL AUTHORITIES FINANCIAL CONGLOMERATES FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL REGULATION FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SUPERVISION FINANCIAL SYSTEMS FINANCIER FISHERIES GENERAL INSURANCE INFLATION INFORMATION DISCLOSURE INFORMATION DISCLOSURE REQUIREMENTS INSURANCE INSURANCE ACTIVITIES INSURANCE BROKERS INSURANCE COMPANIES INSURANCE FIRMS INSURANCE INDUSTRIES INSURANCE INDUSTRY INSURANCE POLICIES INSURANCE PRODUCTS INSURANCE SUPERVISORS INSURERS INTEGRATED SUPERVISION INTEGRITY LAWS LEASING LEASING COMPANIES LEGAL FRAMEWORK LIBERALIZATION LIQUIDITY LOCAL AUTHORITIES LOW INFLATION MINISTRIES OF FINANCE MORTGAGE MORTGAGE BANKS MORTGAGES OPERATING COSTS PENSION FUNDS POLICY MAKERS PRUDENTIAL REGULATIONS REGULATORY AGENCIES REGULATORY FORBEARANCE RISK MANAGEMENT SAVINGS SECURITIES SECURITIES MARKETS SECURITIZATION SOLVENCY SOLVENCY REQUIREMENTS SUBSIDIARIES SUPERVISORY AGENCIES SUPERVISORY AUTHORITIES SUPERVISORY SYSTEM SYSTEMIC RISK UNIVERSAL BANKING FINANCIAL SECTOR SUPERVISORY STRUCTURES SURVEY INSTRUMENTS REGULATORY FRAMEWORK INTERAGENCY COORDINATION INTEGRATED APPROACH SUPERVISION SYSTEMS PRUDENTIAL REGULATIONS FINANCIAL INTERMEDIARIES BANK SUPERVISION SECURITIES REGULATION BANKING SYSTEMS INSURANCE COMPANIES UNIVERSAL BANKING FINANCIAL SECTOR |
| spellingShingle |
ACCOUNTABILITY ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING RULES ARBITRAGE BANKING INDUSTRY BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BROKERS CAPITAL BASE CAPITAL MARKET CAPITAL REQUIREMENTS CENTRAL BANKS COMMERCIAL LOANS COMMISSIONS CONSOLIDATION CONSUMER PROTECTION CONSUMERS CREDIT UNIONS DEBT DEPOSITORS DEREGULATION ECONOMIES OF SCALE FINANCIAL AUTHORITIES FINANCIAL CONGLOMERATES FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL REGULATION FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SUPERVISION FINANCIAL SYSTEMS FINANCIER FISHERIES GENERAL INSURANCE INFLATION INFORMATION DISCLOSURE INFORMATION DISCLOSURE REQUIREMENTS INSURANCE INSURANCE ACTIVITIES INSURANCE BROKERS INSURANCE COMPANIES INSURANCE FIRMS INSURANCE INDUSTRIES INSURANCE INDUSTRY INSURANCE POLICIES INSURANCE PRODUCTS INSURANCE SUPERVISORS INSURERS INTEGRATED SUPERVISION INTEGRITY LAWS LEASING LEASING COMPANIES LEGAL FRAMEWORK LIBERALIZATION LIQUIDITY LOCAL AUTHORITIES LOW INFLATION MINISTRIES OF FINANCE MORTGAGE MORTGAGE BANKS MORTGAGES OPERATING COSTS PENSION FUNDS POLICY MAKERS PRUDENTIAL REGULATIONS REGULATORY AGENCIES REGULATORY FORBEARANCE RISK MANAGEMENT SAVINGS SECURITIES SECURITIES MARKETS SECURITIZATION SOLVENCY SOLVENCY REQUIREMENTS SUBSIDIARIES SUPERVISORY AGENCIES SUPERVISORY AUTHORITIES SUPERVISORY SYSTEM SYSTEMIC RISK UNIVERSAL BANKING FINANCIAL SECTOR SUPERVISORY STRUCTURES SURVEY INSTRUMENTS REGULATORY FRAMEWORK INTERAGENCY COORDINATION INTEGRATED APPROACH SUPERVISION SYSTEMS PRUDENTIAL REGULATIONS FINANCIAL INTERMEDIARIES BANK SUPERVISION SECURITIES REGULATION BANKING SYSTEMS INSURANCE COMPANIES UNIVERSAL BANKING FINANCIAL SECTOR de Luna Martinez, Jose Rose, Thomas A. International Survey of Integrated Financial Sector Supervision |
| relation |
Policy Research Working Paper;No. 3096 |
| description |
Despite the intense debate on the
advantages and disadvantages of adopting integrated
supervision that has taken place in recent years, little is
known about the experiences of countries that have adopted
it and the obstacles and challenges they have faced to
implement it. In an attempt to shed light on this area, the
authors present the results of a survey conducted in a group
of 15 countries that have adopted integrated supervision.
After a brief review of the literature on integrated
supervision, the authors examine four topics: 1) The reasons
cited by this group of countries for establishing an
integrated supervisory agency. 2) The scope of regulatory
and supervisory powers of these agencies. 3) The progress of
these agencies in harmonizing their regulatory and
supervisory practices across the intermediaries they
supervise. 4) The practical problems faced by policymakers
in adopting integrated supervision. The survey revealed that
the group of integrated supervisory agencies is not as
homogeneous as it seems. Important differences arise with
regard to the scope of regulatory and supervisory powers the
agencies have been given. In fact, contrary to popular
belief, less than 50 percent of the agencies can be
categorized as mega-supervisors. Another finding is that in
most countries progress toward the harmonization of
prudential regulation and supervision across financial
intermediaries remains limited. Interestingly, the survey
revealed that practically all countries believe they have
achieved a higher degree of harmonization in the regulation
and supervision of banks and securities companies than
between banks and insurance firms. The survey also
identified some practical problems faced by this group of
countries in establishing their unified supervisory
agencies. The authors discuss these problems, along with the
practical lessons and recommendations provided by the 15
agencies to other countries considering integrated
supervision, in the final section of the paper. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
de Luna Martinez, Jose Rose, Thomas A. |
| author_facet |
de Luna Martinez, Jose Rose, Thomas A. |
| author_sort |
de Luna Martinez, Jose |
| title |
International Survey of Integrated Financial Sector Supervision |
| title_short |
International Survey of Integrated Financial Sector Supervision |
| title_full |
International Survey of Integrated Financial Sector Supervision |
| title_fullStr |
International Survey of Integrated Financial Sector Supervision |
| title_full_unstemmed |
International Survey of Integrated Financial Sector Supervision |
| title_sort |
international survey of integrated financial sector supervision |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2003/07/2475062/international-survey-integrated-financial-sector-supervision http://hdl.handle.net/10986/18144 |
| _version_ |
1764438979486154752 |
| spelling |
okr-10986-181442021-04-23T14:03:41Z International Survey of Integrated Financial Sector Supervision de Luna Martinez, Jose Rose, Thomas A. ACCOUNTABILITY ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING RULES ARBITRAGE BANKING INDUSTRY BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BROKERS CAPITAL BASE CAPITAL MARKET CAPITAL REQUIREMENTS CENTRAL BANKS COMMERCIAL LOANS COMMISSIONS CONSOLIDATION CONSUMER PROTECTION CONSUMERS CREDIT UNIONS DEBT DEPOSITORS DEREGULATION ECONOMIES OF SCALE FINANCIAL AUTHORITIES FINANCIAL CONGLOMERATES FINANCIAL CRISES FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL REGULATION FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SUPERVISION FINANCIAL SYSTEMS FINANCIER FISHERIES GENERAL INSURANCE INFLATION INFORMATION DISCLOSURE INFORMATION DISCLOSURE REQUIREMENTS INSURANCE INSURANCE ACTIVITIES INSURANCE BROKERS INSURANCE COMPANIES INSURANCE FIRMS INSURANCE INDUSTRIES INSURANCE INDUSTRY INSURANCE POLICIES INSURANCE PRODUCTS INSURANCE SUPERVISORS INSURERS INTEGRATED SUPERVISION INTEGRITY LAWS LEASING LEASING COMPANIES LEGAL FRAMEWORK LIBERALIZATION LIQUIDITY LOCAL AUTHORITIES LOW INFLATION MINISTRIES OF FINANCE MORTGAGE MORTGAGE BANKS MORTGAGES OPERATING COSTS PENSION FUNDS POLICY MAKERS PRUDENTIAL REGULATIONS REGULATORY AGENCIES REGULATORY FORBEARANCE RISK MANAGEMENT SAVINGS SECURITIES SECURITIES MARKETS SECURITIZATION SOLVENCY SOLVENCY REQUIREMENTS SUBSIDIARIES SUPERVISORY AGENCIES SUPERVISORY AUTHORITIES SUPERVISORY SYSTEM SYSTEMIC RISK UNIVERSAL BANKING FINANCIAL SECTOR SUPERVISORY STRUCTURES SURVEY INSTRUMENTS REGULATORY FRAMEWORK INTERAGENCY COORDINATION INTEGRATED APPROACH SUPERVISION SYSTEMS PRUDENTIAL REGULATIONS FINANCIAL INTERMEDIARIES BANK SUPERVISION SECURITIES REGULATION BANKING SYSTEMS INSURANCE COMPANIES UNIVERSAL BANKING FINANCIAL SECTOR Despite the intense debate on the advantages and disadvantages of adopting integrated supervision that has taken place in recent years, little is known about the experiences of countries that have adopted it and the obstacles and challenges they have faced to implement it. In an attempt to shed light on this area, the authors present the results of a survey conducted in a group of 15 countries that have adopted integrated supervision. After a brief review of the literature on integrated supervision, the authors examine four topics: 1) The reasons cited by this group of countries for establishing an integrated supervisory agency. 2) The scope of regulatory and supervisory powers of these agencies. 3) The progress of these agencies in harmonizing their regulatory and supervisory practices across the intermediaries they supervise. 4) The practical problems faced by policymakers in adopting integrated supervision. The survey revealed that the group of integrated supervisory agencies is not as homogeneous as it seems. Important differences arise with regard to the scope of regulatory and supervisory powers the agencies have been given. In fact, contrary to popular belief, less than 50 percent of the agencies can be categorized as mega-supervisors. Another finding is that in most countries progress toward the harmonization of prudential regulation and supervision across financial intermediaries remains limited. Interestingly, the survey revealed that practically all countries believe they have achieved a higher degree of harmonization in the regulation and supervision of banks and securities companies than between banks and insurance firms. The survey also identified some practical problems faced by this group of countries in establishing their unified supervisory agencies. The authors discuss these problems, along with the practical lessons and recommendations provided by the 15 agencies to other countries considering integrated supervision, in the final section of the paper. 2014-05-01T21:44:26Z 2014-05-01T21:44:26Z 2003-07 http://documents.worldbank.org/curated/en/2003/07/2475062/international-survey-integrated-financial-sector-supervision http://hdl.handle.net/10986/18144 English en_US Policy Research Working Paper;No. 3096 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research |