Keeping banks safe and sound hinges on good supervision. The bank failures of March 2023 precipitated questions about the effectiveness of supervision. This paper reflects on lessons learned from this banking turmoil and reviews global progress in delivering effective supervision over the past ten years. It finds progress in areas like risk monitoring, stress testing, and business model analysis. Yet, progress has also been hampered by deficiencies in supervisory approaches, techniques, tools, and (use of) corrective and sanctioning powers, as well as by unclear mandates, inadequate powers, and lack of independence and resources. Overcoming these deficiencies requires supervisors to improve their own performance and other policy makers to contribute to ensuring vigilant, independent and accountable supervision.
This paper highlights the distinct challenges and suggests practical solutions to the effective regulation, supervision, and crisis management for public banks. It acknowledges that public banks exist for variety of reasons (legacy, ideology, public policy) and will likely remain a feature of financial systems in a number of countries. On this basis, it provides advice on how to best incorporate public banks in the regulatory paradigm commensurate with their risk profiles.
The speed and strength of Kim Jong Un in establishing his standing as a man of supreme power will depend on how much the North Korean power elite will support him in unity. Kim Jong Un will not be able to solidify his power foundation without gaining enthusiastic help from, or control of the power elite. In other words, unity and movement of the power elite are the key variables in establishing and stabilizing the Kim Jong Un regime. With regards to this point, this study analyzes the characteristics, structure, and network of the power elite under the Kim Jong Un regime, and particularly focuses on examining the possibility of whether factions can be formed
Korean history and experience testify to the depth of human suffering, 'haan.' Those who are familiar with the 'han' from minjung theology may question the word 'haan' since the spelling, han, is more commonly known among Koreans and Westerners. Although they are two distinct concepts, haan and han, minjung theologians use the spelling 'han' indiscriminately for both and so foster a confusion, particularly for English speaking readers. This study delineates the nature of han and differentiates it from haan.
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