Current Legal Issues Affecting Central Banks, Volume V

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International Monetary Fund, May 20, 1998 - Business & Economics - 867 pages
This volume, edited by Robert C. Effros, focuses on how technology is affecting the world of banking and finance in an era of increasing globalization. The advent of electronic money, stored value cards, and internet transactions are discussed, as well as the impact of technology on cross-border banking and its implications for central banks. Other issues examined are the legal and regulatory frameworks for risk management of banks, sovereign debt, the international laws of bank secrecy, and financial services within the context of the GATT Agreement on Trade Services.

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Contents

Introduction
xi
DEVELOPMENTS AT INTERNATIONAL
1
The World Bank in the Nineties
29
Developments at the International Finance Corporation
49
Foreword to Chapters 4 and 5
58
Comment
85
Perspectives
107
Comment
121
Afterword to Chapters 10 and 11
303
RESOLUTION OF SOVEREIGN LIQUIDITY CRISES
309
Comment
346
Legal Framework for Dealing with Sovereign
426
Appendices
471
Report of the Executive Board to the Board
478
Payments Materials
576
with Respect to CrossBorder and MultiCurrency
627

Afterword to Chapters 4 and 5
133
A Comparison Between
163
Comment
178
Afterword to Chapters 6 and 7
194
Comment
218
Bank Failure Case Histories
227
9B Bank Failures in Nordic Countries
233
9C Bank Failures in Latin America
241
Afterword to Chapters 8 and 9
249
Internal Controls and Risk Management for Banks
263
Sharing of Information Between Supervisory Authorities
283
Comment
297
Reducing Foreign Exchange Settlement Risk Excerpt
635
Basle Committee on Banking Supervisions Core
647
The Supervision of Financial
655
Joint Report on the Supervision of CrossBorder
664
European Community Documents
675
Netting by the Competent Authorities
688
The Right to Financial Privacy Act Excerpts
697
U S Regulations on Financial Record Keeping
709
Notes
733
Legal Remedies in the Event of a Sovereign
765
Biographical Sketches
797
Copyright

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