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  3. Time is running out for governments to overhaul regulation of global banks t

Time is running out for governments to overhaul regulation of global banks t

游客2024-01-20  52
问题     Time is running out for governments to overhaul regulation of global banks that have become bigger and more powerful since the start of the financial meltdown three years ago, the International Monetary Fund(IMF) warned. In its half-yearly health check on the financial sector, the Washington-based fund said there was an urgent need for international cooperation to tackle the systemic risks posed by banks deemed "too big to fail".
    "The future financial regulatory reform agenda is still a work in progress, but will need to move forward with at least the main ingredients soon," the IMF said in its Global Financial Stability Review. The window of opportunity for dealing with too-important-to-fail institutions may be closing and should not be wasted, all the more so because some of these institutions have become bigger and more dominant than before the crisis erupted.
    The fund said the end of the recession and the pick-up in financial markets had cut the estimated losses of banks. But it stressed that the debts amassed by governments in their attempts to lessen the impact of the global recession threatened to open a new chapter in the credit crunch. The IMF said government borrowing would remain high over the next two years, particularly in the UK. In Britain, the increase in both corporate and household debt in the pre-crisis years meant non-financial private sector debt stood at over 200% of GDP. Predicting a slow, shallow and uneven recovery in credit, the fund said bank profits would be affected by a tougher regulatory regime.
    The report provided conditional support for the Conservative plan to scrap (废除) the Financial Services Authority and hand banking regulation to the Bank of England. A unified regulator—one that oversees liquidity and solvency issues—removes some of the conflicting incentives that result from the separation of these powers, but nonetheless if it is required to oversee systemic risks it would still be softer on systemically important institutions than those that are not. This arises because the failure of one of these institutions would cause disproportionate damage to the financial system and regulators would be loathing seeing serial failures. Care would be needed, the IMF said, to ensure the right balance between making the financial system safer and ensuring that it continued to be efficient and innovative. [br] What’s the main reason that governments should check the regulation of global banks?
选项 A、The banks hold the dominant position in the financial field.
B、They want the banks to become bigger and more powerful.
C、The financial recession has a great impact on the whole world.
D、Innovation puts too much pressure on governments.
答案 A
解析 由题干中的governments should check the regulation of global banks定位到第一段。细节辨认题。由定位段可知，这些银行从三年前的金融危机起已经变得越来越大，越来越强，被视为“太大而不能倒闭”，并存在系统性风险。由此可见它们的地位之重，故A)为正确答案。
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