Getting Finance in South Asia 2010
The recent global financial meltdown was a revelation in one sense. Before the crisis there had been a belief that banks could never fail, a belief that encouraged overleveraging and excessive risk taking. The complexity of financial instruments, o...
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World Bank
2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20100825235935 http://hdl.handle.net/10986/2498 |
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okr-10986-24982021-04-23T14:02:02Z Getting Finance in South Asia 2010 Sophastienphong, Kiatchai Kulathunga, Anoma SOUTH ASIA Finance The recent global financial meltdown was a revelation in one sense. Before the crisis there had been a belief that banks could never fail, a belief that encouraged overleveraging and excessive risk taking. The complexity of financial instruments, opaqueness of transactions, and sophistication of modeling techniques used by developed country financial institutions all combined to conceal the hollowness of their success. Many financial institutions largely ignored regulatory requirements or preempted them through the use of complex instruments and methods, while risk taking caused profits to rocket to unimaginable levels. Regulatory arbitrage became rampant in this environment. While financial institutions were in a mode of overexpansion, regulators visibly failed to enforce regulations, and the financial institutions took advantage of the regulatory anarchy. All this was an eye-opener for regulators in South Asia, as regulatory lapses and lack of enforcement can lead to potential instability in financial systems. The report evaluates key prudential guidelines issued by the regulatory authority of each country to assess the comparability of data as well as to shed light on the country's level of regulatory development. It also expands the group of benchmark economies to allow comparison with diverse economies in Asia as well as the Western hemisphere. And it includes a special write-up on how South Asian countries and commercial banking sectors are managing the impact of the global financial crisis and economic slowdown. 2012-03-19T09:35:00Z 2012-03-19T09:35:00Z 2010-08-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20100825235935 978-0-8213-8057-4 http://hdl.handle.net/10986/2498 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank Publications & Research :: Publication Publications & Research :: Publication South Asia South Asia |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
SOUTH ASIA Finance |
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SOUTH ASIA Finance Sophastienphong, Kiatchai Kulathunga, Anoma Getting Finance in South Asia 2010 |
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South Asia South Asia |
| description |
The recent global financial meltdown was
a revelation in one sense. Before the crisis there had been
a belief that banks could never fail, a belief that
encouraged overleveraging and excessive risk taking. The
complexity of financial instruments, opaqueness of
transactions, and sophistication of modeling techniques used
by developed country financial institutions all combined to
conceal the hollowness of their success. Many financial
institutions largely ignored regulatory requirements or
preempted them through the use of complex instruments and
methods, while risk taking caused profits to rocket to
unimaginable levels. Regulatory arbitrage became rampant in
this environment. While financial institutions were in a
mode of overexpansion, regulators visibly failed to enforce
regulations, and the financial institutions took advantage
of the regulatory anarchy. All this was an eye-opener for
regulators in South Asia, as regulatory lapses and lack of
enforcement can lead to potential instability in financial
systems. The report evaluates key prudential guidelines
issued by the regulatory authority of each country to assess
the comparability of data as well as to shed light on the
country's level of regulatory development. It also
expands the group of benchmark economies to allow comparison
with diverse economies in Asia as well as the Western
hemisphere. And it includes a special write-up on how South
Asian countries and commercial banking sectors are managing
the impact of the global financial crisis and economic slowdown. |
| format |
Publications & Research :: Publication |
| author |
Sophastienphong, Kiatchai Kulathunga, Anoma |
| author_facet |
Sophastienphong, Kiatchai Kulathunga, Anoma |
| author_sort |
Sophastienphong, Kiatchai |
| title |
Getting Finance in South Asia 2010 |
| title_short |
Getting Finance in South Asia 2010 |
| title_full |
Getting Finance in South Asia 2010 |
| title_fullStr |
Getting Finance in South Asia 2010 |
| title_full_unstemmed |
Getting Finance in South Asia 2010 |
| title_sort |
getting finance in south asia 2010 |
| publisher |
World Bank |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20100825235935 http://hdl.handle.net/10986/2498 |
| _version_ |
1764385554331336704 |