3 October - Global Financial System Needs More Comprehensive Reform (IMF)
New analysis finds that while current reforms are moving in the right direction, many difficult decisions lie ahead. It identifies five key priorities in the reform agenda: 1) A level playing field in regulation; 2) Improve the effectiveness of supervision; 3) Develop coherent resolution mechanisms at the national level and for cross-border financial institutions; 4) Establish a comprehensive macro prudential framework that will require indentifying, monitoring, and addressing systemic risks generated by individual firms and collective behavior; and 5) Reforms must address emerging exposures and risks in the entire financial system, not just banks.
