The appropriate level of bank capital and, more generally, a bank's capacity to absorb losses, has been at the core of the post-crisis policy debate. This paper contributes to the debate by focusing on how much capital would have been needed to avoid imposing losses on bank creditors or...

The German banking industry has seconded the proposal for a SingleEuropean banking market and the establishment of a 'fair level playing field'.In banking Services, this implies the harmonization of rules on capitaladequacy. The Cooke committee at the Bank for International Settlementsand the...