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On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...
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explain about two-thirds of the variation of bank capitalization over the business cycle. We estimate that provisioning …
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Intro -- Contents -- Foreword -- Glossary -- 1 Introduction -- 2 A Primer on Systemic Risk -- 3 Systemic Risk: A Theoretical Framework -- 4 The Buildup of Financial Imbalances -- 5 Contagion -- 6 Systemic Risk and the Real Costs of FinancialCrises -- 7 Measuring Systemic Risk -- 8 Systemic Risk...
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We show that lender of the last resort (LOLR) policy contributes to higher bank interconnectedness and systemic risk … central bank haircuts. LOLR increases interconnectedness by incentivizing banks to pledge higher haircut gap bonds, especially … issued by similar banks and by systemically important banks. LOLR also exacerbates cross-pledging of bank bonds. Higher …
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