《CURRENT DEVELOPMENTS IN MONETARY AND FINANCIAL LAW VOLUME2》

Ⅰ. THE INTERNATIONAL MONETARY FUND3

1 Provision of Information to the IMF Francois Gianviti3

2 Economics of IMF Arrangements: An Introduction Gregory C.Dahl21

3 The Stand-By Arrangement: Its Legal Nature and Principal Features Ross Leckow33

4 The IMF’s Relationship with the World Bank: The Cooperative Framework William E.Holder51

Ⅱ. OTHER TERNATIONAL FINANCIAL INSTITUTIONS71

5 International Financial Institutions and Their Discontents Jerome I. Levinson71

6 Recent Developments in the European Central Bank Antonio Sainz de Vicuna79

7 International Finance Corporation: History and Current Operations Carol Mates101

8 Competencies of the European Community on International Monetary Fund Matters: An Overview of the Key Legal Issues Bernhard Steinki109

Ⅲ.ARCHITECTURE OF THE INTERNATIONAL MONETARY SYSTEM151

9 Prevention of Financial Crises: An Overview of the Public Sector Aspects of the International Financial Architecture John Hicklin151

10 Involving the Private Sector in the Avoidance and Resolution of Crisis Mark Allen167

11 Role of the IMF in Promoting Fiscal Transparency Marco Cangiano181

12 Legal Aspects of the IMF’s Code of Good Practices on Transparency in Monetary and Financial Policies Roy C.N.Baban203

Ⅳ. INTERNATIONAL CAPITAL FLOWS217

13 Liberalization of Capital Movements: A Possible Role for the IMF Francois Gianviti217

14 A Dozen Things to Love （or Hate） About Capital Flows Vincent Raymond Reinhart233

15 Tax Aspects of Offshore Financial Centers Victor Thuronyi263

Ⅴ. CENTRAL BANKING283

16 Central Banks and International Financial Volatility Luis Jacome Hidalgo283

Comment George Iden311

17 Responsibility of Central Banks for Stability in Financial Markets Garry J.Schinasi317

Comment Cynthia Lichtenstein337

18 Central Bank Responsibility for Exchange Rate Policy and Implementation Karen H.Johnson341

19 Current Challenges in Foreign Exchange Reserves Management Jennifer Johnson-Calari357

Ⅵ. SUPERVISION AND REGULATION OF FINANCIAL INSTITUTIONS369

20 Selective Bank and Environmental Developments:Supervisory Trends upon Entering the Twenty-First Century Joseph Norton369

CommentMark A.Cymrot435

21 Legal Issues Incident to Holding Central Bank Assets AbroadThomas C.Baxter, Jr., and Robert B.Toomey447

22 Assessing the Case for Unitied Financial Sector SupervisionRichard K.Abrams and Michael W.Taylor463

23 Supervision of Financial Institutions in the United KingdomWilliam Blair489

24 Converging Standards for Evaluating Banking Supervision in Individual CountriesRicki TigertHelfer503

25 Some Aspects of the Discretion of Bank Regulators in Addressing Banking ProblemsTobiasMC.Asser521

26 Key Legal Aspects of Bank RestructuringJan Willem van der Vossen541

27 Five Observations About Banking FailuresRoss S.Delston571

28 Impact of Bank Secrecy on the Rule of Law in the WorldJohn W.Moscow579

29 Internet Banking: Some Recent Legal DevelopmentsJohn Jin Lee591

CommentBrian W.Smith603

Ⅶ. MONETARY AREAS AND EXCHANGE ARRANGEMENTS613

30 Dollarization: A PrimerTomas J.T.Balino613

31 Dollarization and EuroizationMichael Gruson629

32 Strongly Anchored Currency ArrangementsAlain Ize641

33 Common Currencies, Single Currency, and Other Forms of Currency ArrangementsJean-Victor Louis657

34 Legal Tender: A Notion Associated with PaymentKazuaki Sono679

Ⅷ.PAYMENT SYSTEMS691

35 CPSS Core Principles for Payment SystemsGregor Heinrich691

36 Institutional Framework and Implementation of the Core Principles for Systemically Important Payment SystemsOmotunde E.G.Johnson723

37 TARGET: Trans-European Automated Real-Time Gross Settlement Express Transfer System of the European System of Central BanksErwin Nierop751

Ⅸ. DORMANT ACCOUNTS773

38 Swiss Law on the Treatment of Dormant Accounts: A Comparison with European and U.S.LawMichael Bradfield and Pamela Sak773

39 Summary Review of the Claims Resolution Tribunal for Dormant Accounts in SwitzerlandRoberts B.Owen799

Ⅹ. GOVERNANCE813

40 Managing the Global Economy: The Role of GovernanceRainer Geiger813

APPENDIX833

Ⅰ Code of Good Practices on Transparency in Monetary and Financial Policies: Declaration of Principles833

Biographical Sketches853