importance of regulatory arbitrage as a driver of cross-border bank flows since the global financial crisis. However, in the euro … area, arbitrage in capital stringency was linked to lower cross-border lending since the crisis. …

their securitization decision. We also assess the case for requiring financial institutions to defer bonus pay so as to make … interaction of financial institutions' internal agency problems with the external agency problem that arises from securitization. …

adequacy requirements, privately rational but socially inefficient disintermediation, and competitive international de-regulation …

We investigate the optimal regulation of financial conglomerates that combine a bank and a non-bank financial …. Their optimal capital requirements encourage this. Hence, the practice of ‘regulatory arbitrage’, or of transferring assets … not only of the present debate on the regulation of financial conglomerates but also in the light of existing US bank …

arbitrage was the main motive behind setting up conduits: the guarantees were structured so as to reduce regulatory capital …

While financial liberalization has in general favourable effects, reforms in countries with poor regulation is often …

other considerations. The analysis suggests three important conclusions. First, profitable arbitrage opportunities do … of profitable arbitrage opportunities appear to be a positive function of the length of maturity. We propose an …

chosen by a social planner, it is chosen to maximize arbitrage profits and depends therefore realistically upon …