Financial Crisis and Regulatory Reforms

The blame for the financial crisis has been attributed to many actors: bankers, credit rating agencies, central bankers, regulators, hedge funds, financial engineers and mortgage originators to name a few. but seen from a policy perspective for building a more resilient financial system, understanding the mechanisms in the financial system architecture that allowed this to happen are more important than identifying the actors. keeping the financial jargon to a minimum to reach out to a wider audience, this book provides deeper insights into the financial structures that led to the build-up of risks that were poorly understood by all actors. the key post-crisis financial reforms are then presented by linking them to identified weaknesses of the pre-crisis market practices and regulatory rules. the book concludes with some views on the challenges that lie ahead. srichander ramaswamy retired as principal economist from the bank for international settlements in basel, and has subsequently worked as financial stability expert at the european stability mechanism in luxembourg and as eu adviser on financial system governance to the prime minister's office in the republic of moldova. he holds degrees in electrical engineering, control systems engineering and aerospace engineering.