As in other sectors, competition in finance matters for allocative, productive and dynamic efficiency. Theory suggests …

Traditional bank competition policy seeks to balance efficiency with incentives to take risk. The main tools are rules … have structurally low charter values and high incentives to take risk. In such an environment, traditional policies that …

outside of the central bank, and the twin-peaks model, with a systemic risk regulator (central bank) on the one hand and a … regulatory structures are geared more explicitly towards the mitigation of systemic risk-including through the introduction of …

The increasing ability to trade credit risk in financial markets has facilitated its dispersion across the financial … and other sectors. However, specific risks attached to credit risk transfer (CRT) instruments in a market with still …

interconnectedness within institutions and markets on funding and market liquidity risk within financial systems. The Systemic Risk …, subject to individual changes in risk profiles and common changes in market conditions. This approach can then be used (i) to … liquidity risk within a macroprudential framework that, if used to motivate a capital charge or insurance premia, provides …

The recent global financial crisis has forced a re-examination of risk transmission in the financial sector and how it … framework that helps mitigate the risk from systemic linkages with a view towards enhancing the resilience of the financial … sector. This paper presents a forward-looking framework ("Systemic CCA") to measure systemic solvency risk based on market …