Systemic Stability and the Role of Macro-Prudential Policy

The book addresses an important area of the regulatory reform debate and explains a difficult and complex field of financial regulation from a comparative and international perspective. It draws on a vast amount of research in both primary and secondary government documents, including US, UK and Swiss legal and regulatory materials, industry and trade association reports, and academic studies. This book provides readers with a theoretical justification for the emergence of macroprudential policy from a legal and regulatory perspective and also a transactional lawyer’s view on how the interconnectedness and resulting complexities are developed within the financial system. Policymakers have observed that it would be a mistake to “waste“ the financial crisis by failing to learn the lessons of regulatory reform that are necessary to prevent or mitigate a future crisis. This book takes us a step closer to understanding how macroprudential regulatory reforms can be designed to control systemic risks whilst protecting the economy and society at large. The book should become an important contribution to the literature and a reference for both academics and practitioners. Autorin: PhD Ruby Pillai