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supranational standards, transparency, etc…. April 9, 2009

Posted by Bradley in : Uncategorized , trackback

I have signed up for email alerts with the BIS, but for some reason, although the FSF (now Financial Stability Board (will they change the domain name?)) publishes its press releases via the BIS website, they don’t seem to make it to the email alerts, nor are they seeming to appear on the BIS website front page. You have to sign up separately to get the FSB email alerts. None of this seems to be organized to make it easy to see what is going on – you have to be quite committed to keep track. And if you’re interested in EU action on banking you have to look at what the the CEBS is doing too.

Meanwhile, I’m watching the ways in which some of the developing principles are being presented. Reading the Basel Committee/IADI’s “Consultative Document” on Core Principles for Effective Deposit Insurance Systems I am very struck by the lack of requests for reactions in the document, or even any indication as to where comments could be sent. Why call a document a consultative document if it really isn’t?

On the other hand, the IMF, in seeking views about its transparency policy wants to control the responses it gets. Commentators must categorize themselves as civil society organizations, financial markets participants or “think tanks, academics and other stakeholders” – and the questionnaires are different for the different groups. For example, whereas civil society organizations and the think tanks group are asked their views about whether IMF transparency should be improved by making reports easier to understand, more timely, more frank, or easier to access, the financial markets participants are not asked this question. Because they don’t care? Because the IMF doesn’t care what their views are on this question? Because they might be offended at a suggestion that the IMF’s reports are too hard to understand?


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