Abstract
As financial markets have become increasingly international, the question of how competing institutions from different countries should be regulated has been raised repeatedly in many different contexts. I will attempt to address that question by analyzing three recent attempts at coordinating international regulation: (1) the risk-based capital standards developed by the regulators of the major industrial countries, (2) the financial integration initiatives of the European Community, and (3) the financial provisions of the U.S.-Canada free-trade agreement. I will then suggest a framework for cooperation that is, in my opinion, superior to the frameworks used in reaching those agreements.
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References
Chase, Laub & Company. 1987. “Insulating Banks from Risks Run by Nonbank Affiliates.” Paper prepared for the American Bankers Association, Washington, D.C., October.
Chase, Laub & Company. 1988. “Benefits of the Dual Banking System.” Paper prepared for the American Bankers Association, Washington, D.C.
Samuel Chase & Company. 1983. “Corporate Separateness as a Tool of Bank Regulation.” Paper prepared for the American Bankers Association, Washington, D.C.
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© 1991 Kluwer Academic Publishers
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Laub, P.M. (1991). International Regulation: How Much Cooperation is Needed?. In: England, C. (eds) Governing Banking’s Future: Markets vs. Regulation. Innovations in Financial Markets and Institutions. Springer, Boston, MA. https://doi.org/10.1007/978-1-4684-6714-7_3
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DOI: https://doi.org/10.1007/978-1-4684-6714-7_3
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4684-6716-1
Online ISBN: 978-1-4684-6714-7
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