Financial fragility and securitisation: the discussions with Australian regulators and bank risk managers

Li, Siqiwen (2010) Financial fragility and securitisation: the discussions with Australian regulators and bank risk managers. In: Kim, Suk-Joong, and McKenzie, Michael D., (eds.) International Banking in the New Era: Post-Crisis Challenges and Opportunities. International Finance Review, 11 . Emerald, Bingley, UK, pp. 255-269.

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Abstract

Among divergent approaches to understand the global financial crisis. Minsky's Financial Instability Hypothesis has gained increased attention. In part, the chapter draws upon Minsky's notion that the seeds of instability are sown when banks, households, and firms move from hedge to speculative and then into Ponzi financial positions. Financial innovations such as securitisation contribute to this transformation. In addition, the paper will discuss the findings arising from an analysis of interviews that focus on securitisation related issues after the sub-prime crisis with practitioners who were closely involved in regulation and risk management. The paper highlights the need for fundamental reform in the financial sector with a more consistent regulatory platform and enhanced supervision, to facilitate rapid healing from the damage arising from the financial crisis in Australia.

Item ID: 15408
Item Type: Book Chapter (Research - B1)
Keywords: global financial crisis, financial instability, bank risk management, Basel II, securitisation
ISBN: 978-1-84950-912-1
ISSN: 1569-3767
Date Deposited: 27 Apr 2011 07:06
FoR Codes: 15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1502 Banking, Finance and Investment > 150203 Financial Institutions (incl Banking) @ 70%
15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1502 Banking, Finance and Investment > 150205 Investment and Risk Management @ 30%
SEO Codes: 90 COMMERCIAL SERVICES AND TOURISM > 9001 Financial Services > 900101 Finance Services @ 70%
90 COMMERCIAL SERVICES AND TOURISM > 9001 Financial Services > 900102 Investment Services (excl. Superannuation) @ 30%
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