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Vol 23 No 3 March/April 2018

Book of the Month

Cover of Scamell and Gasztowicz on Land Covenants

Scamell and Gasztowicz on Land Covenants

Price: £225.00

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The Regulatory Response to the Financial Crisis

ISBN13: 9781849801621
Published: March 2010
Publisher: Edward Elgar Publishing Limited
Country of Publication: UK
Format: Paperback
Price: £24.00

Despatched in 4 to 6 days.

There are already many papers and books on the causes and course of the current financial crisis, but this is the first and, for the moment, only such book to focus on the regulatory response to it.

There are two main attributes that a bank needs to remain in business during a period of turmoil, liquidity to enable it to pay its debts when due, and capital, to absorb losses. Both have been insufficient. Goodhart describes what went wrong and what needs to be done, alongside discussions of deposit insurance, credit rating agencies, prompt corrective action, etc.

Charles Goodhart is the senior British economist specializing in financial stability issues. As the turmoil began, continued and exploded into crisis, he has kept up a series of commentaries, all since September 2007. These have been brought together, plus some new and additional material, to provide the reader with an overview of what went wrong in the regulatory framework for the financial system, and what now needs to be done to put that right.

This will be required reading for financial regulators, practitioners in banking and finance, academics and students of finance, and those just wanting to know what went wrong and what to do now.