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Item Details
Title:
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REFORMING FINANCIAL MARKETS
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By: |
Cabinet Office & HM Treasury |
Format: |
Paperback |

List price:
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£34.55 |
We currently do not stock this item, please contact the publisher directly for
further information.
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ISBN 10: |
0101766726 |
ISBN 13: |
9780101766722 |
Publisher: |
TSO |
Pub. date: |
8 July, 2009 |
Series: |
Cm. No. 7667 |
Pages: |
170 |
Synopsis: |
The world economy has been hit by a severe financial crisis resulting in the worst global economic downturn for over 60 years. First and foremost, the crisis has been caused by the failure across the world of many in the banking sector to understand the true risks created by the innovation and rapid growth of interconnected, globalised markets for financial services in recent years. This document, "Reforming Financial Markets (Cm. 7667)", sets out the Government's analysis of the causes of the financial crisis, the action already taken to restore financial stability and the regulatory reforms necessary to strengthen the financial system for the future, so that consumers, businesses of all sectors and the economy as a whole continue to have access to the stable credit that is so essential. The Government is proposing further reforms to banking regulation that will lead to: more effective prudential regulation and supervision of firms; greater emphasis on monitoring and managing system-wide risks; greater confidence that the authorities are ready and able to deal with problems when they do arise; and, greater protection for the taxpayer when an institution needs to be resolved.The Government will give increased powers to the Bank of England and Financial Services Authority. The Government's aim is for enhanced supervision of banks, better international standards, and a more responsible and efficient global financial services sector. The strategy is designed to strengthen regulation and supervision, and support better corporate governance so that, in future, financial crises will be less likely and less damaging. |
Illustrations: |
Illustrations |
Publication: |
UK |
Imprint: |
Stationery Office Books |
Returns: |
Non-returnable |
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