Regulation and Supervision of Financial Institutions in the NAFTA Countries and Beyond, 1997

Since the North American Free Trade Agreement (NAFTA) took effect at the start of 1994, production and trade in goods and services have become ever more integrated in the region. Banking and financial systems thus also must increasingly inform, adjudicate, transact, invest, insure, and intermedi­ ate all across North America. Presently, however, there is no single, or up­ to-date source of information on the banking and finance systems of the current NAFTA countries-Canada, the United States, and Mexico. Relying on top specialists from international financial organizations, central banks, regulatory authorities, and universities, this and a companion volume together bridge that information gap. The focus is not just on description but on regulatory and institution-building challenges posed by the opening up of domestic financial markets, and on the political economy of reforms. The ultimate goal is to enhance the process of safe and efficient integration by policies, regulations, and private initiatives that contribute to the welfare of people in North America and beyond. This volume goes into essential detail in assessing banking and finance regulations, supervision, and prudential and operating standards in the NAFTA countries in a global context.

1. Sound Finance and the Wealth of Nations.- 2. Lessons for Transitional and Developing Economies from U.S. Deposit Insurance Reform.- 3. Systemic Risk in Banking: Concept and Models.- 4. International Agreements in the Area of Banking and Finance: Accomplishments and Outstanding Issues.- 5. Regional Financial Integration in Europe: A Blueprint for North America?.- 6. Competition and Convergence of Bank Regulation in NAFTA.- 7. Trade in Financial Services in NAFTA: A Public Choice Approach.- 8. Integration and Globalization of the Canadian and U.S. Banking Industries: A Modest Role for NAFTA?.- 9. Regulatory Issues Arising from Financial Integration.- 10. The Evolving U.S. Legislative Agenda in Banking and Finance.- 11. Financial Conglomeration: Issues and Questions.- 12. A Financial System that Strengthens Market Forces: What Is Most Needed?.- 13. Consolidated Supervision of Cross-Border Banking Activities: Principles and Practice in the NAFTA Context.- 14. Mexico’s Banking Crisis: Origins, Consequences, and Countermeasures.- 15. Efficiency and Risk in Small-Value, Cross-Border Payments: The North American Case.