The recent global financial crisis has highlighted the importance of a process of consultation, interaction, exchanging of views and information sharing amongst market participants, policy makers, researchers and regulators. Following the recent global financial crisis, these four protagonists of the financial market and the global economy have learnt to increase their interaction and sharing their points of view and data etc. with each other thereby contributing to improved functioning of global financial markets. The main theme of this work is global governance and the supervision of global systemically important financial institutions and shadow banking institutions.
The purpose of this article is to first take some of the key points raised by the FSB and others regarding factors contributing to a better global banking system and then analyse how the recognition of the evolution of nations towards the process of an increasingly globalised society could facilitate the emergence of effective global infrastructures over time that may accelerate the process of financial integration and contribute to the more effective functioning of G-SIFIs, other financial institutions, including shadow banks and increase global financial stability.
For full article, please visit the website of the Journal of Banking and Finance. The title of the publication is 'Global governance: Global banks and shadow banks supervision'.