| Description |
1 online resource (27 pages) |
| Series |
IMF working paper, 2227-8885 ; WP/06/241 |
|
IMF working paper ; WP/06/241.
|
| Contents |
""Contents""; ""I. INTRODUCTION""; ""II. MAIN COMPONENTS OF SECURITIES MARKET INFRASTRUCTURE""; ""III. MAIN ECONOMIC FEATURES""; ""IV. INTEGRATION OF THE SECURITIES MARKET INFRASTRUCTURE IN EUROPE""; ""V. IMPACT OF INFRASTRUCTURE CONSOLIDATION""; ""VI. REGULATORY AND SUPERVISORY RESPONSE""; ""VII. AN ALTERNATIVE APPROACH: A TWO-TIER REGULATORY FRAMEWORK""; ""REFERENCE"" |
| Summary |
This paper examines the impact of ongoing cross-border integration of securities market infrastructure in the European Union. In particular, it analyzes the regulatory framework that has evolved to deal with the risks associated with cross-border clearing and settlement and concludes that, due to institutionalized deficiencies, the current cross-border regulatory framework may not be adequate or effective in addressing and preventing a real cross-border crisis. The paper proposes a two-tier regulatory framework for securities infrastructure in Europe entailing the creation of a centralized "federal" European regulatory framework for regional systems, in addition to the current national regulatory framework for domestic systems |
| Bibliography |
Includes bibliographical references |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
|
Print version record |
|
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
| Subject |
Securities industry -- European Union countries
|
|
Securities -- European Union countries
|
|
Securities
|
|
Securities industry
|
|
European Union countries
|
| Form |
Electronic book
|
| Author |
International Monetary Fund. Monetary and Capital Markets Department.
|
| ISBN |
1282448420 |
|
9781282448421 |
|
9781451909548 |
|
1451909543 |
|
