Research Handbook on Central Banking
Show Less

Research Handbook on Central Banking

Edited by Peter Conti-Brown and Rosa M. Lastra

Central banks occupy a unique space in their national governments and in the global economy. The study of central banking however, has too often been dominated by an abstract theoretical approach that fails to grasp central banks’ institutional nuances. This comprehensive and insightful Handbook, takes a wider angle on central banks and central banking, focusing on the institutions of central banking. By 'institutions', Peter Conti-Brown and Rosa Lastra refer to the laws, traditions, norms, and rules used to structure central bank organisations. The Research Handbook on Central Banking’s institutional approach is one of the most interdisciplinary efforts to consider its topic, and includes chapters from leading and rising central bankers, economists, lawyers, legal scholars, political scientists, historians, and others.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 19: Banking regulation and supervision: a UK perspective

Kern Alexander and Rosa María Lastra

Abstract

The chapter examines recent international regulatory reforms that emphasise macroprudential principles and objectives for banking regulation and supervision. The UK provides an interesting example of a jurisdiction that has moved from a largely microprudential framework of regulation to one that combines a macroprudential framework of regulation and policy that aims to control systemic risk with judgment-based micro prudential supervision. The chapter discusses the evolving definition of banks and the necessity for law and regulation to keep pace with financial innovation and evolving market structures. The chapter argues that although UK regulatory reforms have taken important steps in coordinating macroprudential regulation and policy with microprudential regulation, challenges remain in monitoring systemic risks across the financial system and in addressing risks posed by the shadow banking system.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.


Further information

or login to access all content.