Ebook The Basel Process and Financial Stability
In the almost 75 years since it was first drafted, Article 3 of the BIS Statutes has lost none of its relevance for the process of fostering a stable global financial system.
Strengthening both monetary and financial stability is the traditional remit of central banks and other monetary agencies, but achieving these twin objectives may not be possible without the close co-operation of other regulatory and supervisory bodies.
In addition, the various components and players of the global financial system namely the financial markets themselves, institutions and the associated infrastructure may not all be subject to the same sources of concern and threats, thus requiring different policy approaches and measures in order to achieve the stability of the financial system as a whole.
Because the stability of the financial system depends so critically on the institutions, structures and governance arrangements that comprise it, continued policy coordination and cooperation is paramount. The Basel Process plays a key role in strengthening the stability and resilience of the global financial system.
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