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Andrei Shelepov1
  • 1 RANEPA, 11 Prechistenskaya naberezhnaya, 119034, Moscow, Russian Federation

New Tools for Global Regulation of Banking Financial Sector of the World Economy

2012. Vol. 7. No. 2. P. 5–29 [issue contents]

The article presents the analysis of global regulation mechanisms development in the banking financial sector of the world economy. The author focuses on the processes which started in this sector during the global financial and economic crisis and concurrent activities of the key international institutions, including G20, the Basel Committee on banking supervision and the Financial Stability Board, in this area.

The purpose of the undertaken research is to identify and analyze the emerging changes in global regulation of the banking segment and thus forecast the possible ways of its further evolution. Reforms in four priority areas, namely, new banking capital and liquidity standards (Basel standards), remuneration practices, stress-testing procedures, accounting standards and fair value accounting have been examined. The analysis demonstrates that the effectiveness of development and implementation of these new mechanisms in the banking financial sector varies due to insufficient or delayed actions of relevant international financial institutions and non-compliance with their recommendations on a country level. Monitoring and analysis of obstacles to implementing new regulatory mechanisms allows forecasting the ways and timing of further development of the banking financial sector. The author emphasizes the need for further G20 involvement in this area, in particular through delegating mandates to other institutions and promoting country-level implementation of the agreed reforms.

The paper draws on the outcomes of the project «Analysis of developments in the global and regional mechanisms of collective governance and regulation» implemented within the Program of Fundamental Studies of Higher School of Economics in 2011.

Citation: Shelepov Andrei Vladimirovich (2012) Novye instrumenty global'nogo regulirovaniya v bankovskom segmente finansovogo sektora mirovoy ekonomiki [New Tools for Global Regulation of Banking Financial Sector of the World Economy ] INTERNATIONAL ORGANISATIONS RESEARCH JOURNAL, 2, pp. 5-29 (in Russian)
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