regulation proposals in the Basel III framework with respect to this literature. A number of shortcomings in the current …

regulation. In part, this is due to their neglect of important regulatory choices, which policy-makers are therefore left to take …

regulation did not take the "big picture" of the system suffciently into account and, subsequently, financial supervision mainly … "missed the forest for the trees". As a result, the need for macroprudential aspects of regulation emerged, which has recently … macroprudential regulation in creating stable, yet effcient financial systems. At the same time, I emphasize the importance of …

how to treat sovereign exposures in bank regulation. Our contribution is to model endogenous sovereign portfolio …