Global Banking and Systemic Risk
The aim of this section is not to ‘structure reality’ but to restructure around reality the business of global finance as distinct from, but related to, international trade. The distinction that keeps these two notions apart is important precisely because it permits us to look at Basel III with the proper perspective. Quite often, there is confusion between global banking and international trade, even though each has its own set of risks and therefore requirements for regulation, and any successful regulation of global banking has to take note of the specific characteristics of financial markets and their instruments (Chapter 11.
KeywordsMonetary Policy Systemic Risk Hedge Fund Financial Stability Credit Institution
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