Some economists argue that those countries should learn from Chile's open market economy, tight banking supervision and capital controls.
They include the development of internationally accepted standards, increased transparency of governments and markets, and improved monitoring and supervision of capital flows.
The government made economic advances under the first administration of President YUDHOYONO, introducing significant reforms in the financial sector, including tax and customs reforms, the use of Treasury bills, and capital market development and supervision.
Central bankers who make up the oversight body of the Basel Committee on Banking Supervision announced new capital standards for banks on Sunday, aimed at reducing the risk of another financial crisis that comes from a drying up of banks' liquidity.
The Basel committee on banking supervision , which sets capital standards for banks around the world, published a consultation document on December 17th that was more stringent than many bankers had expected.
In the wake of this crisis, Hoeing said we did the same things we did after previous crises: added supervision and regulation and raised capital requirements.
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In the London control room, all five of the capital's airports are under separate supervision from the rest of Nats' domain, which includes Wales, Scotland, Northern Ireland and most of England.
As a bank it faces more intrusive supervision from the Federal Reserve, tougher capital requirements and restrictions on investing.
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These new rules which are far stricter on capital and liquidity come from the Basel Committee on Banking Supervision (BCBS), and are known as the Basel III accords.
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But this is true only so long as the regulator does not rigidly apply the crude capital standards set in 1988 by the Basel committee on banking supervision.
She said that developing countries needed to respond by beefing up bank supervision, restricting credit to fast-growing areas, imposing capital requirements that changed with the economic cycle and monitoring their foreign exchange exposures.
The three main regulators' committees at the bank on banking supervision, payments and settlements, and foreign-exchange have done important work establishing the minimum capital requirements for banks, drafting international principles for bank supervisors and writing a voluntary code of disclosure for banks' derivatives exposures.
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