Since the global financial crisis, the international community has made great progress in strengthening the legal and regulatory framework for the financial sector both at the national and international levels. A sound legal framework-both domestically and globally-contributes to the promotion of financial stability by empowering regulators and enhancing transparency and accountability in the financial sector. This edited volume examines from a legal perspective, the progress made in implementing the financial regulatory reforms adopted since the global financial crisis and highlights the role played by the IMF in advancing these reforms and in charting the course for future reforms. The book also reviews the important role that law plays in contributing to the financial stability at both the national and international levels. Experts and representatives from the IMF membership share their views on this subject and provide a unique perspective on the role of the law in promoting financial stability. The chapters presented in the collection are a selection of papers prepared in connection with a high-level seminar on Law and Financial Stability organized by the IMF’s Legal Department and held in Washington, DC, in 2016. Topics covered include: effective resolution regimes, the appropriate legal framework for macroprudential policy, legal frameworks that can facilitate private sector debt restructuring, how we can ensure that developing countries remain integrated within the international financial system, the legal aspects of Islamic banking, as well as the resolution of central counterparty clearing houses.