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The Reduction of Systemic Risk in the United States Financial System
Scott, Hal S. - 2010
The central problem for financial regulation is reducing systemic risk. Systemic risk is the risk that the failure of … paper addresses the five most important policies for dealing with systemic risk: the imposition of capital requirements, the … related limitations on bank size would not reduce systemic risk …
Persistent link: https://www.econbiz.de/10013143703
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Systemic risk and the refinancing ratchet effect
Khandani, Amir E.; Lo, Andrew W.; Merton, Robert C. - 2009 - This draft: September 13, 2009
, and near-frictionless refinancing opportunities - led to vastly increased systemic risk in the financial system …
Persistent link: https://www.econbiz.de/10003889053
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Opaque assets and rollover risk
Ahnert, Toni; Nelson, Benjamin F. - 2016
We model the asset-opacity choice of an intermediary subject to rollover risk in wholesale funding markets. Greater …
Persistent link: https://www.econbiz.de/10011451106
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Monetary policy and capital regulation in the US and Europe
Cohen-Cole, Ethan; Morse, Jonathan - 2010
From the onset of the 2007-2009 crisis, the Federal Reserve and the European Central Bank have aggressively lowered interest rates. Both sets of changes are at odds with an anti-inflationary stance of monetary policy; indeed, as the crisis began in August 2007 inflation expectations were high...
Persistent link: https://www.econbiz.de/10003986675
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Regulation of Canadian Capital Markets in the 1990s : The United States in the Driver's Seat
Jordan, Cally - 2009
This Article looks at the regulatory techniques that were adopted in a small but developed market, Canada, in response to the increasing integration of the North American economy and internationalization of capital markets. One of the most comprehensive experiments was the Multijurisdictional...
Persistent link: https://www.econbiz.de/10013155934
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Bankers’ Pay after the 2008 Crisis : Regulatory Reforms in the US and the EU
Ferrarini, Guido - 2013
We examine the political dynamics which led to the codification of the Principles and Standards for sound compensation practices at financial institutions at international (G 20) level and to their subsequent implementation on both sides of the Atlantic. We show that the regulation of bankers'...
Persistent link: https://www.econbiz.de/10013091649
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U.S. v. Japanese Regulatory Responses to the Financial Institution Crises of the 1980s : The Seductive Appeal of the Cover Up
Black, William K. - 2010
Economists have dominated U.S. scholarship about the S&L debacle and they have universally viewed the regulatory response as horrific. This paper argues that the conventional economic wisdom is badly flawed. The U.S. regulatory response to the debacle was disastrous – when economists shaped it...
Persistent link: https://www.econbiz.de/10013148988
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Bank contribution to financial sector systemic risk and expected returns : evidence from large U.S. banks
Usman, Muhammad - In: Borsa Istanbul Review 23 (2023) 1, pp. 203-216
We estimate the contribution of large U.S, banks to the financial sector systemic risk by using value-at-risk (VaR … ), conditional value-at-risk (CoV aR ), and two-stage least square (2SLS) methodology, Our sample is the monthly stock returns of 25 … large U.S, banks from 1997 to 2021, We find that banks contributing more to the systemic risk have lower future returns on …
Persistent link: https://www.econbiz.de/10014307497
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Cross-border banking on the two sides of the Atlantic : does it have an impact on bank crisis management?
Nieto, María J.; Wall, Larry D. - 2015
In the United States and the European Union (EU), political incentives to oppose cross-border banking have been strong in spite of the measurable benefits to the real economy from breaking down geographic barriers. Even a federal-level supervisor and safety net are not by themselves sufficient...
Persistent link: https://www.econbiz.de/10011382232
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Too Big to Fail U.S. Banks’ Regulatory Alchemy : Converting an Obscure Agency Footnote into an 'At Will' Nullification of Dodd-Frank's Regulation of the Multi-Trillion Dollar Finan...
Greenberger, Michael - 2018
The multi-trillion dollar market for, what was at that time wholly unregulated, over-the- counter derivatives (“swaps”) is widely viewed as a principal cause of the 2008 worldwide financial meltdown. The Dodd-Frank Act, signed into law on July 21, 2010, was expressly considered by Congress...
Persistent link: https://www.econbiz.de/10014112182