Global Financial Stability Report


Restoring Confidence and Progressing on Reforms

October 2012

Chapter 3 of the October 2012 Global Financial Stability Report examines whether the regulatory reforms designed to make the financial system safer are moving the system in the correct direction, using a benchmark set of features that include financial institutions and markets that are more transparent, less complex, and less leveraged. The analysis suggests that progress has been limited so far, in part because many of the reforms are still in the early stages of implementation. Chapter 4 evaluates how aspects of current changes to financial structure, including those elicited from regulatory reforms, may be associated with economic outcomes. Both chapters stress that the success of measures to produce a safer financial system depend on effective implementation of reforms and strong supervision.

Chapter 3. The Reform Agenda: An Interim Report on Progress Toward a Safer Financial System

This chapter does a stock-take on the global regulatory reforms and the implications for the structure of intermediation.
Full Text | Summary | Survey Article Boxes
3.1 Risks Associated with New Forms of Financial Intermediation
3.2 Global Deleveraging Landscape: Economy- and Bank-Level View
3.3 TruPs and the Impact of Basel III on U.S. Banks
3.4 Side Effects of Low Policy Interest Rates
3.5 Did Some Banking Systems Withstand International Contagion because They Are Less Globally Integrated?
Data 3.1 Size of the Global Financial System
3.2 Market-Based Intermediation
Data 3.3 Market-Based Intermediation: New Financial Products
3.4 Scope and Scale: Interconnectedness, Funding, Concentration
3.5 Globalization
3.6 Illustration of Difference-in-Differences Method
3.1 Financial Structure before the Crisis and Financial Stress during the Crisis
3.2 A Snapshot of the New Regulatory Initiatives
3.3 Possible Effects of Regulatory Reforms on Financial Structure
3.4 Government and Central Bank Crisis Measures, 2007–10
3.5 Effect of Progress in Basel Capital Rules on Intermediation Structures
3.6 Indices, Subindices, and Data Sources
3.7 Snapshot of the New Global Regulatory Initiatives: Resolution of G-SIFIs
3.8 Status of Initiatives, by Selected Economy
3.9 Effect of Progress in Basel Liquidity Rules on Intermediation Structures
3.10 Effect of Financial Policies on Intermediation Structures: Crisis Intervention Policies
3.11 Basel Capital and Liquidity Progress Index

Chapter 4. Changing Global Financial Structures: Can They Improve Economic Outcomes?


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