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By Kern Alexander

Booklet used to be stated to be "new"...far from it..a torn web page and used..also my acquaintances ordered an analogous booklet from one other vendor and it obtained to them inside of a took over a month to get my copy..seller could be banned!

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Additional resources for Global Governance of Financial Systems: The International Regulation of Systemic Risk

Example text

In the case of deposit insurance, governments may provide guarantees for a bank’s short-term liabilities to depositors and other creditors. These schemes often lead to agency costs that arise from asymmetries of information between depositors and banks and between the regulator and the banks. For instance, deposit insurance and limited liability may lead bank management to engage in excessive risky activity because the manager is protected from most of the downside of risk but has an incentive to gamble for success by pursuing risky investment strategies.

Moreover, its capital calculations seek to price financial risk based on the bank’s individual risk exposure, rather than on the total risk created by all banks in the financial system. A major contention of this study is that some of the flaws in Basel II can be attributed, in part, to the flawed decision-making structure of the Committee and its recent efforts to impose its standards on non-G10 countries who have played little, if any, role in promulgating the Accord. 4 The Basel Committee works informally and operates by consensus.

Subsidiary are examples of financial fraud that arise because of poor operational controls over individuals who exercise key functions. In the post-September 11 environment, most countries, led by the United States, have enacted legislation that redefines money laundering to include any type of financial assistance for terrorist organizations (Alexander, 2002). Moreover, many countries now define money laundering to involve any type of facilitation or assistance to corrupt public officials that involves performing financial transactions or providing advice regarding the use of the proceeds of public corruption.

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