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Market-Based Bank Capital Regulation
Bulow, Jeremy I.; Klemperer, Paul - C.E.P.R. Discussion Papers - 2013
Today’s regulatory rules, especially the easily-manipulated measures of regulatory capital, have led to costly bank … failures. We design a robust regulatory system such that (i) bank losses are credibly borne by the private sector (ii …) systemically important institutions cannot collapse suddenly; (iii) bank investment is counter-cyclical; and (iv) regulatory …
Persistent link: https://www.econbiz.de/10011083692
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Banking reform
Jackson, Patricia; Davies, Howard; Miles, David; … - SUERF Conference on Banking Reform <2015, London>; … - 2016
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...
Persistent link: https://www.econbiz.de/10011554963
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The SSM at 1
Laeven, Luc; Draghi, Mario; Dombret, Andreas R.; … - SUERF - The European Money and Finance Forum; Deutsche …; … - 2016
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...
Persistent link: https://www.econbiz.de/10011557140
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Fire-sale spillovers and systemic risk
Duarte, Fernando; Eisenbach, Thomas M. - 2013
We construct a new systemic risk measure that quantifies vulnerability to fire-sale spillovers using detailed regulatory balance sheet data for U.S. commercial banks and repo market data for broker-dealers. Even for moderate shocks in normal times, fire-sale externalities can be substantial. For...
Persistent link: https://www.econbiz.de/10010202672
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The UBS-Credit Suisse Merger : Helvetia's Gift
Böni, Pascal; Kroencke, Tim-Alexander; Vasvari, Florin P. - 2023
The UBS- Credit Suisse (CS) merger in March 2023, one of the biggest banking unions in history, was an emergency rescue deal engineered by Swiss authorities to avoid more market-shaking turmoil in global banking. The merger resulted in a significant increase in the combined stakeholder net...
Persistent link: https://www.econbiz.de/10014349670
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Misdiagnosing Bank Capital Problems
Bulow, Jeremy; Klemperer, Paul; Submitter, Stanford GSB - 2021
recognizing greater risks and losses, can lead to solvency problems that look like liquidity (bank-run) crises. Regulatory …
Persistent link: https://www.econbiz.de/10013213588
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Optimal Volatility, Covenants and Cost of Capital Under Basel III Bail-in
Hori, Kenjiro; Ceron, Jorge Martin - Birkbeck, Department of Economics, Mathematics & Statistics - 2015
value of the bank and its volatility by using an indifference curve model of the bank’s choice of optimal risk. While the … first-best optimal risk maximises the value of the bank, the shareholders select suboptimally high risks under bail … consequences of the DAPR (Deviation from the Absolute Priority Rule) the bondholders are forced to closely monitor the bank …
Persistent link: https://www.econbiz.de/10011211973
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Funding advantage and market discipline in the Canadian banking sector
Beyhaghi, Mehdi; D’Souza, Chris; Roberts, Gordon S. - In: Journal of Banking & Finance 48 (2014) C, pp. 396-410
after controlling for bank-specific and market risk factors. Large banks on average pay 80 basis points and 70 basis points …
Persistent link: https://www.econbiz.de/10011077972
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Basel III and contingent capital: a missed opportunity or an illusor panacea?
Sergio, Sorrentino - In: Banca Impresa Società (2012) 1, pp. 25-48
Contingent capital (cocos) instruments are debt securities that automatically co vert into equity if a predetermined trigger (given in terms of equity price or capit ratio) is breached. The dynamic incentive feature of a properly designed continge capital would encourage effective risk...
Persistent link: https://www.econbiz.de/10011157729
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Fallacies, irrelevant facts, and myths in the discussion of capital regulation : why bank equity is not socially expensive
Admati, Anat R.; DeMarzo, Peter M.; Hellwig, Martin; … - 2013
empirical support. We conclude that bank equity is not socially expensive, and that high leverage at the levels allowed, for …
Persistent link: https://www.econbiz.de/10010203632