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Banking after regulatory reforms - business as usual? : a joint publication with the Bank of Finland
Jokivuolle, Esa (ed., introduction);  … - SUERF/Bank of Finland Conference Banking after …; … - 2014
The 5th joint SUERF/Bank of Finland joint conference was held in Helsinki on 13 June 2013. The general theme of the conference was to focus on the regulatory reforms after the global financial crisis and, in particular, how structural reforms of banking ("Volcker, Vickers and Liikanen") could...
Persistent link: https://www.econbiz.de/10011711934
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Multiple safety net regulators and agency problems in the EU: is Prompt Corrective Action a partial solution?
Mayes, David G; Nieto, Maria J; Wall, Larry - Suomen Pankki - 2007
Prompt Corrective Action (PCA) provides a more efficient mechanism for dealing with problem banks operating in more than one European country. In a PCA framework, a bank’s losses are likely to be substantially reduced. This reduction in the losses to deposit insurance and governments will...
Persistent link: https://www.econbiz.de/10005648938
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Competition before sunset: The case of the Finnish ATM market
Kopsakangas-Savolainen, Maria; Takalo, Tuomas - Suomen Pankki - 2012
optimal regulation. We use the model to analyze an actual regulation of such a market by competition authorities in Finland … Ramsey regulation. While the Finnish regulation pushes the foreign fee downwards towards its socially optimal level, the … regulated fees are likely to remain too high from the welfare point of view. In contrast with the actual regulation, it would be …
Persistent link: https://www.econbiz.de/10011166107
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Shadow banking : financial intermediation beyond banks
Adrian, Tobias; Chrétien, Edouard; Chui, Michael; … - Shadow Banking: Financial Intermediation beyond Banks …; … - 2018
Persistent link: https://www.econbiz.de/10011790739
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Risk-based classification of financial instruments in the Finnish statutory pension scheme TyEL
Tanskanen, Antti J; Niininen, Petri; Vatanen, Kari - Suomen Pankki - 2010
Sufficient solvency of a pension insurance company responsible for defined-benefit pensions guarantees that the pensions are paid regardless of turbulence in the financial market. In the Finnish occupational pension system TyEL, the required level of solvency capital (solvency limit) and its...
Persistent link: https://www.econbiz.de/10008516093
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The impact of political uncertainty on institutional ownership
Francis, Bill B.; Hasan, Iftekhar; Zhu, Yun - Suomen Pankki - 2013
This paper provides original evidence from institutional investors that political uncertainty during presidential elections greatly affects investment. Using U.S. institutional ownership data from 1981 to 2010, we find that institutions significantly reduce their holdings of common stock by 0.76...
Persistent link: https://www.econbiz.de/10010818979
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Bank exit legislation in US, EU and Japanese financial centres
Granlund, Peik - Suomen Pankki - 2002
This paper analyses bank exit (ie reorganisation and liquidation) legislation in selected financial centres: New York, London, Frankfurt, Helsinki and Tokyo. The focus is on bank exit legislation applicable to commercial banks. The legislation is analysed from the perspective of bank...
Persistent link: https://www.econbiz.de/10005190764
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Regulatory choices in global financial markets – restoring the role of aggregate utility in the shaping of market supervision
Granlund, Peik - Suomen Pankki - 2008
In financial market studies, public supervision has rarely been found to have any effects on financial market development. This is true, even though the primary objective of supervisory legislation is the limitation of market failures and externalities. Studies conducted by eg the World Bank and...
Persistent link: https://www.econbiz.de/10005423726
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Bankers' compensation: Sprint swimming in short bonus pools?
Jokivuolle, Esa; Keppo, Jussi - Suomen Pankki - 2014
The global financial crisis of 2007–2008 has given rise to new regulatory initiatives to put restrictions on the size and the term of bankers' pay. We revisit both theoretically and empirically the question of whether these regulations are justified. We model bonuses as a series of sequential...
Persistent link: https://www.econbiz.de/10010734434
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Bonus caps, deferrals and bankers' risk-taking
Jokivuolle, Esa; Keppo, Jussi; Yuan, Xuchuan - Suomen Pankki - 2015
We model a banker's future bonuses as a series of call options on the bank's profits and show that bonus caps and deferrals reduce risk-taking. However, the banker's optimal risk-taking also depends on the costs of risk-taking. We calibrate the model to US banking data and show that lengthening...
Persistent link: https://www.econbiz.de/10011207862