Cooperative Financial Institutions : Issues in Governance, Regulation, and Supervision
This paper addresses topics on which an agreement is necessary to arrive at consensus guidelines or principles of regulation and supervision of cooperative financial institutions (CFIs) in developing countries. Specifically we identify those aspect...
| Main Authors: | , |
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| Format: | Publication |
| Language: | English en_US |
| Published: |
Washington, DC: World Bank
2012
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2006/01/6965850/cooperative-financial-institutions-issues-governance-regulation-supervision http://hdl.handle.net/10986/7107 |
| Summary: | This paper addresses topics on which an
agreement is necessary to arrive at consensus guidelines or
principles of regulation and supervision of cooperative
financial institutions (CFIs) in developing countries.
Specifically we identify those aspects related to CFI
industry structure, governance, legislation and regulation
over which a well established base of knowledge exists; we
point out the most important gaps in understanding and those
over which a considerable degree of disagreement among
stakeholders appears to exist and that require research to
consolidate opinions. Three main topics covered are: (i) the
fundamental structure of the sector in terms of its internal
(micro) and inter-CFI (macro) organization, with focus on
the agency conflicts inherent in the mutual structure, the
extent to which they contribute to failure risk, and to
whether and how these conflicts are controlled by existing
governance mechanisms; (ii) the existing legal frameworks in
an international context, their origins and the implications
for the functioning of CFIs; and (iii) the regulatory
frameworks under which CFIs operate and the different
propositions by stakeholders about what should be an
appropriate regulatory framework and an effective
supervision mechanism. |
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