A New Model for Market-based Regulation of Subnational Borrowing

Released on by Marcelo Giugale
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  • A New Model for Market-based Regulation of Subnational Borrowing Book Detail

  • Author : Marcelo Giugale
  • Release Date : 2000
  • Publisher : World Bank Publications
  • Genre : Bank
  • Pages : 30
  • ISBN 13 :
  • File Size : 1,1 MB
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A New Model for Market-based Regulation of Subnational Borrowing by Marcelo Giugale PDF Summary

Book Description: To bring fiscal discipline to state and municipal governments, Mexico's federal government has established a two-pillar framework that explicitly renounces federal bail-outs and establishes a Basel - consistent link between the capital-risk weighting of bank loans to subnational governments and the borrower's credit rating. Whether the framework succeeds will depend partly on market assessments of the government's commitment to enforce bank capital rules and refrain from bailing out defaulting subnational governments.

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Borrowing by Subnational Governments

Borrowing by Subnational Governments

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This paper presents various models of control with advantages and disadvantages, the balance of which would make it more or less suitable to a particular countr