THE DYNAMICS OF INTERNATIONAL BANK REGULATION

ATUL K. SHAH (LECTURER IN HIE DEPARTMENT OF ACCOUNTING, FINANCE AND MANAGEMENT AT THE UNIVERSITY OF ESSEX)

Journal of Financial Regulation and Compliance

ISSN: 1358-1988

Publication date: 1 April 1996

Abstract

For many years, the banking industry has required close supervision owing to its central yet delicate role in economic life. In a short time, the business has moved from a local, country‐based jurisdiction to a global arena, on a massive scale. This development has forced regulation to adopt an international perspective, to keep in step with the commercial developments. This paper analyses this move from local to global regulation of banking, finding that the efforts seem to be reactive rather than proactive. In addition, the regulatory endeavours have become enmeshed in international economic competition, and sophisticated regulatory arbitrage is being conducted on a global playing field. Thus, regulatory objectives and standards are being increasingly compromised or subverted. Paradoxically, just as the banking business is becoming increasingly risky and scandalous, regulation is becoming weaker, posing serious challenges to the future of the world economy and society.

Citation

SHAH, A. (1996), "THE DYNAMICS OF INTERNATIONAL BANK REGULATION", Journal of Financial Regulation and Compliance, Vol. 4 No. 4, pp. 371-385. https://doi.org/10.1108/eb024896

Download as .RIS

Publisher

:

MCB UP Ltd

Copyright © 1996, MCB UP Limited

Please note you might not have access to this content

You may be able to access this content by login via Shibboleth, Open Athens or with your Emerald account.
If you would like to contact us about accessing this content, click the button and fill out the form.
To rent this content from Deepdyve, please click the button.