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Basel III: To what extent will it promote sustainable development?
Traditionally, banks have been the main pillar of financial intermediation and, consequently, a fundamental source of systemic risk, which in its worst form has resulted in financial crises. In times of economic downturns, financial institutions welcome governmental curative intervention, which in many cases have been misappropriated.
Reforming Over-the-Counter Markets: The role of central counterparts
The opacity, size, and complexity of over-the-counter (OTC) markets are under forensic examination by lawmakers, as they have led to the significant build-up of systemic risks across the global financial system and were at the heart of the 2007-2008 global financial crises.