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Printable Handouts
Navigable Slide Index
- Introduction
- Financial regulation
- Why regulate financial institutions?
- If you can't lick 'em, join em'
- Risk of failure
- Reduce asset risk
- Reduce leverage
- Regulatory tools?
- Summary (1)
- Regulatory systems
- Traditional supervision (1)
- Traditional supervision (2)
- Private investors' information
- "Market discipline" defined
- Which market information?
- Types of "influence"
- Evidence about market monitoring
- Monitoring: who knows first?
- Evidence about market influence
- Indirect influence
- Summary (2)
- Minor caveats
- More serious caveats
- Other forms of market discipline
- Recent lessons
- Conclusions
Topics Covered
- Governments bear some of the risk taken by financial institutions: formally (as in deposit insurance) or informally (as in support provided during a crisis)
- Much of the financial system's regulatory oversight is best viewed as an effort to control this indirect source of risk to the government and its taxpayers
- Traditional supervision relies on inspections by government personnel, who tend to focus on accounting outcomes
- Market investors also evaluate financial firms' activities
- The resulting market prices (of equity, bonds, deposits, etc.) can supplement the government's traditional supervisory techniques, at least under certain circumstances
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Talk Citation
Flannery, M. (2009, August 30). Market discipline in financial regulation [Video file]. In The Business & Management Collection, Henry Stewart Talks. Retrieved August 31, 2024, from https://doi.org/10.69645/YNQQ8778.Export Citation (RIS)