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On The Main Legal Issues Of Multinational Bank Supervision Under International Financial Integration And Financial Liberalization

Posted on:2003-12-18Degree:DoctorType:Dissertation
Country:ChinaCandidate:Y CaiFull Text:PDF
GTID:1116360092970974Subject:International Law
Abstract/Summary:PDF Full Text Request
The dissertation focuses on the legal issues of multinational bank supervision in the background of international financial integration and financial liberalization. Based on the research of basic theories of multinational bank supervision,the dissertation probes deeply into the legal problems of multinational bank supervision from the angles of state regulation,international supervision and internal control. It discusses the defects of current regulatory regime of multinational banks which is now being dramatically flushed by the tides of international financial integration and financial liberalization. In addition,this dissertation aims to expound general rules and trends of multinational bank supervision,thus to provide beneficial experience for China to learn from.This dissertation comprises five chapters,an introduction and a conclusion.The introduction illustrates the background,purpose,significance and structure of this dissertation. International banking industry has been revolutionized over the last two decades. Its activities has been liberated and globalized,creating the so called double-edged sword effect. The structural changes in world banking industry have led regulators to reconsider traditional approaches to supervision and regulation and to develop more flexible approaches to supervise multinational banks.Chapter 1 tries to construct basic theoretical framework for this dissertation. It analyses economic theories and legal theories of multinational bank supervision in order to lay good foundation for this dissertation.Chapter 2 delves into the legal issues deriving from host countries' market-access supervision on multinational banks. Three key issues discussed in this chapter are:(1) the market-access treatment of international banking,(2) the market-access patterns and performance requirements of international banking,and (3) the cross-border securities establishments of international banking. This chapter,adopting theresearch method of comparative analysis,probes systematically into the above-mentioned issues and explores the beneficial experience worthy of our learning.Chapter 3 deals with the legal issues of home countries' consolidated supervision on multinational banks. The author firstly examines some basic theoretical problems of consolidated supervision such as concept,characteristics,prerequisites and comparison between consolidated supervision and other supervisory patterns. Then quoting the well-known scandal of BCCI,the author investigates into the legal problems arising out of the operation of consolidated supervision. At the end of this chapter,the author explores the legislation and practice of consolidated supervision in E.U. and U.S.,and summarizes the experience that Chinese supervisory authority can make good use of.Chapter 4 analyses the legal problems of international supervisory cooperation on multinational banks. The author not only discusses the legal nature of Basle Framework,but also focuses on two new fields of international supervisory cooperation,i.e. supervision of financial conglomerates and new Basle Capital Accord. The author suggests that attention be focused on bilateral co-operation and co-ordination under current circumstance,but multinational co-operation should also be taken into full account in the long run.Chapter 5 is dedicated to a meticulous study of internal control systems in international banking organizations. Armed with research tools of auditing and business administration,the author provides a theoretical starting point from which to evaluate the framework for internal control systems in international banking organizations. Such systems would help to enable earlier detection of problems that will lead to bank losses,therefore minimize damages to the banking organizations. However,it is important to emphasize that internal control systems are not omnipotent and self-sufficient. Although the board of directors and senior management bear the ultimate responsibility for effective systems of internal controls,supervisors sh...
Keywords/Search Tags:Market Access, Consolidated Supervision, International Supervision, Internal Control, Basle Committee
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