Fintech regulation and supervision challenges within the banking industry a comparative study within the G-20 /

"Strengthening financial sector regulatory arrangements has been a major focus of the G-20 since the crisis in 2008, and progress in strengthening financial regulations is often cited as its success. Nonetheless, the overall contribution of the G20 as a political forum for the oversight of inte...

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Main Author: Lessambo, Felix I.,
Other Authors: SpringerLink (Online service)
Format: eBook
Language: English
Published: Cham, Switzerland : Palgrave Macmillan, [2023]
Physical Description: 1 online resource (xxviii, 321 pages) : illustrations (some color).
Series: Palgrave Macmillan studies in banking and financial institutions.
Subjects:
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245 1 0 |a Fintech regulation and supervision challenges within the banking industry :  |b a comparative study within the G-20 /  |c Felix I. Lessambo. 
264 1 |a Cham, Switzerland :  |b Palgrave Macmillan,  |c [2023] 
264 4 |c ©2023. 
300 |a 1 online resource (xxviii, 321 pages) :  |b illustrations (some color). 
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490 1 |a Palgrave Macmillan studies in banking and financial institutions,  |x 2523-3378. 
504 |a Includes bibliographical references and index. 
505 0 |a Banking Regulation and Fintech challenges -- International Standard Setting Boards -- Banks Regulations and Supervision in the United States -- The European Banking Authority -- The Deutsche Bundesbank -- The Bank of France -- The Bank of Italy (Banca d' Italia) -- The Central Bank of Spain (Banco de España) -- The Prudential Regulation Authority -- China Banking Insurance Regulatory Commission -- The Reserve Bank of India -- The Bank of "South" Korea -- Indonesia Bank -- Bank of Canada -- The Australian Prudential Regulation Authority -- The Swiss National Bank -- The Central Bank of Russia -- Brazil Central Bank -- Central Bank of Argentina -- Central Bank of Mexico -- The Saudi Arabia Monetary Authority -- The Central Bank of Turkey -- The South African Reserve Bank (SARB) -- Sandbox and Innovation Testbed Case Study. 
520 |a "Strengthening financial sector regulatory arrangements has been a major focus of the G-20 since the crisis in 2008, and progress in strengthening financial regulations is often cited as its success. Nonetheless, the overall contribution of the G20 as a political forum for the oversight of international financial regulation is dimming as FinTech is blurring the boundaries between intermediaries and markets, as well as between digital service providers moving into the financial space, nonbank financial companies, and banks. Along the same line, financial technology is causing paradigm changes to the traditional financial system, presenting both challenges and opportunities. As FinTech grows rapidly, the importance of regulation and supervision becomes more prominent. The three cornerstones of banking: taking deposits, making loans, and facilitating payments are being reassembled functionally and digitally outside of the bank regulatory perimeter by certain firms. Without comprehensive consolidated supervision, no single regulator can see the whole picture and understand how a firm as a whole operates and takes risk. No crypto firm to date is subject to comprehensive consolidated supervision, creating gaps in supervision alongside risks. Countries around the world are taking divergent views on cryptocurrency and other so-called "Web3" technologies based on blockchain. This book aims to provide a comparison between the various available approaches, models, or legislations by identifying certain key legislative policies within the G-20 as they cope with innovative financial technologies"--Publisher's description. 
545 0 |a Felix I. Lessambo is an adjunct associate professor at Fordham University. 
588 0 |a Online resource; title from PDF title page (SpringerLink, viewed April 5, 2023). 
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