Integrated Financial Supervision: Experiences in Selected Countries
Author(s)Demaestri, Edgardo C.
Demaestri, Edgardo C.
Demaestri, Edgardo C.
Demaestri, Edgardo C.
Transparency & Anticorruption
Transparencia y lucha contra la corrupción
Transparência e Anticorrupção
Public Administration & Policy Making
Administración pública y definición de políticas
Administração pública e formulação de políticas
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AbstractThis paper represents one of the first comparative analyses of experiences of integrated supervision. It discusses how several countries around the world have developed the processes of integrating financial regulation and supervision, and covers numerous relevant technical issues as well as the policy options. It describes the scope of the activities, institutions, responsibilities, and regulatory powers that integrated supervisors are expected to cover. Issues related to the organizational structures and the management of staff resources are also considered. In particular, the paper discusses how the supervisory agencies have dealt with three important aspects: the treatment of financial conglomerates, the risk assessment process, and crisis management.
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Making Sense of Financial Capability Surveys around the WorldWorld Bank (Washington, DC, 2013-11-13)This report will be particularly useful
for policy makers and regulators who prioritize financial
inclusion and/or financial literacy, or who are introducing
financial education strategies according to the high-level
principles developed by the organization for economic
cooperation and development international network for
financial education and recently endorsed by the G20
leaders. The review is intended to be a reference tool for
policy makers, practitioners, and researchers interested in
conducting a survey on these topics, and for those who need
to identify the appropriate combination of methods for
policy or research objectives. Chapter one examines how to
identify, compare, and contrast existing measurement
approaches in the area of financial literacy and capability,
and in the related areas of financial inclusion and
financial consumer protection. Chapter two discusses the
role that surveys can have in informing policy and research
in this area and provides examples of specific survey
objectives. Chapter three describes and compares the content
of the various instruments on financial capability,
financial inclusion, and financial consumer protection, and
provides examples of commonly used questions. Chapter four
describes the methods used for survey implementation, and
highlights technical issues that can affect data quality.
Finally, chapter five describes the analytical methods that
have been used to present the results and to construct
indicators. Detailed information about each study is
provided in standalone summaries in appendix B.
Can You Help Someone Become Financially Capable? A Meta-Analysis of the LiteratureReichelstein, Julia; Salas, Christian; Miller, Margaret; Zia, Bilal (World Bank, Washington, DC, 2014-02-03)This paper presents a systematic and
comprehensive meta-analysis of the literature on financial
education interventions. The analysis focuses on financial
education studies designed to strengthen the financial
knowledge and behaviors of consumers. The analysis
identifies 188 papers and articles that present impact
results of interventions designed to increase
consumers' financial knowledge (financial literacy) or
skills, attitudes, and behaviors (financial capability).
These papers are diverse across a number of dimensions,
including objectives of the program intervention, expected
outcomes, intensity and duration of the intervention,
delivery channel used, and type of population targeted.
However, there are a few key outcome indicators where a
subset of papers are comparable, including those that
address savings behavior, defaults on loans, and financial
skills, such as record keeping. The results from the meta
analysis indicate that financial literacy and capability
interventions can have a positive impact in some areas
(increasing savings and promoting financial skills such as
record keeping) but not in others (credit default).
Global Survey on Consumer Protection and Financial Literacy Results Brief : Regulatory Practices in 114 EconomiesWorld Bank (Washington, DC, 2014-07-22)Financial consumer protection and
financial education policies, in conjunction with the
regulation of financial institutions and markets, need to
ensure safe access to financial services and support
financial stability and financial inclusion objectives.
Consumer protection and financial literacy can contribute to
improved efficiency, transparency, competition, and access
to retail financial markets by reducing information
asymmetries and power imbalances among providers and users
of financial services. Rapid progress toward widespread
financial inclusion must be appropriately complemented with
checks and balances that ensure a responsible provision of
financial services and products. A number of international
efforts are in place to improve dialogue and identify best
practices in financial consumer protection. To contribute to
the international dialogue on financial consumer protection
the World Bank in conjunction with Fin-CoNet, an
international cooperation platform for supervisory agencies
in the area of financial consumer protection, conducted a
global survey on consumer protection and financial literacy
to collect information from financial regulatory agencies in
114 economies. This brief summarizes the key results of the
survey and accompanies the release of the data collected to
provide timely feedback on the results.