The prudential regulation of banks:
Gespeichert in:
| Beteiligte Personen: | , |
|---|---|
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
Cambridge, Massachusetts
MIT Press
1994
|
| Schriftenreihe: | The Walras Pareto lectures
1 |
| Schlagwörter: | |
| Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006792435&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Umfang: | xii, 262 Seiten Diagramme |
| ISBN: | 0262041464 9780262513869 |
Internformat
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| 240 | 1 | 0 | |a La réglementation prudentielle des banques |
| 245 | 1 | 0 | |a The prudential regulation of banks |c Mathias Dewatripont and Jean Tirole |
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Datensatz im Suchindex
| _version_ | 1819357356094390272 |
|---|---|
| adam_text | Contents
Series Foreword ix
Preface xi
1 Introduction 1
1 Institutions
2 The Nature of Banking and the Rationale for Regulation 13
2.1 What Is a Bank? 13
2.1.1 Balance Sheet and Income Statement 13
2.1.2 Banking Specialization 18
2.1.3 Bank Heterogeneity 20
2.1.4 Deposits and Debt Position of Banks 22
2.1.5 Why Have Banks Failed Recently? 25
2.2 Why Regulate Banks? 29
2.2.1 Changing the Focus 29
2.2.2 Addressing Potential Concerns about the
Representation Hypothesis 32
2.2.3 Further Evidence in Favor of the Representation
Hypothesis 35
3 The Institutions of Banking Regulation 47
3.1 The Basle Accords 48
3.1.1 General Dispositions 49
3.1.2 Capital 49
3.1.3 Risk Weighted Assets and Solvency
Requirements 52
3.1.4 Interest Rate and Other Market Risks 56
3.1.5 Activity Restrictions 59
3.1.6 Deposit Insurance 59
3.2 U.S. Regulation 61
3.3 Some Other Supervisory Issues 63
3.3.1 Liquidity and Early Warning Systems 63
3.3.2 Handling Bank Failures 66
3.3.3 Conglomerates and Double Gearing 71
3.4 The Regulation of Nonbanks 79
3.4.1 Pension Funds 79
3.4.2 Insurance Companies 81
3.4.3 Securities Markets Institutions 85
3.5 Is Banking Regulation Different from Corporate
Governance? 87
4 The Example of the U.S. Savings and Loan Associations 93
4.1 S L Fragility with Respect to Interest Rate Risk 93
4.2 The Initial Regulatory Response 94
4.3 The Dual Adjustment Process 97
4.4 Regulatory Cleanup by the FSLIC and the Congress 98
II Theoretical Perspective
5 Existing Banking Theory 103
5.1 Reduction in Transaction Costs 104
5.2 Delegated Monitoring 105
5.2.1 Information Provision as a Natural Monopoly 105
5.2.2 The Diamond Model 107
5.2.3 The Diamond Model and Banking Regulation 109
5.3 Liquidity Provision 109
5.4 Competition in the Banking Industry 112
5.5 Regulatory Models 114
5.6 The Need for a Complementary Approach 117
6 Outline of the Argument 119
I
III Normative Analysis
7 A Simple Model 133
7.1 The Model 133
7.2 No Renegotiation: Excessive Interference and
Passivity 138
8 The Investors Incentive Scheme 141
8.1 A Role for Shareholders and Debtholders 141
8.2 Exact Implementation 148
8.2.1 Composite Claims 148
8.2.2 Implementation by Debt and Equity with Net Worth
Adjustments 149
8.2.3 Implementation through Adjusted Völuntary
Recapitalization 151
9 Relative Solvency Ratios, Securitization, and Market Value
Accounting 155
9.1 Relative Solvency Ratios 155
9.1.1 Controllable and Exogenous Risks 155
9.1.2 Relative Performance Evaluation Does Not Imply a
Relative Ratio 158
9.1.3 Addressing Some Potential Concerns 161
9.2 Securitization 163
9.3 Historical Cost or Market Value Accounting? 167
10 Manipulating Performance Measures and Gains Trading 171
10.1 Portfolio Management, Liquidity, and Securitization 171
10.2 Gains Trading 174
IV Picking a Regulatory Framework
11 Analysis of the Basle Accords 179
11.1 The Basle Völuntary Recapitalization Scheme 179
11.1.1 RiskWeighting 180
11.1.2 Constant Capital Requirement 180
11.1.3 Macroeconomic Shocks 185
11.1.4 Expropriation of Equity Interests 185
11.1.5 Mechanical Intervention by the Regulator 186
11.1.6 Overall Evaluation 187
11.2 Recapitalization or Securitization? 187
11.3 Reallocation of the Bank Portfolio between Risky and Safe
Assets 189
12 The Political Economy of Public Regulation 193
12.1 Optimal Discretionary Regulation 193
12.2 Limitations of Discretionary Regulation 194
12.3 Drawbacks of Nondiscretionary Regulation 199
13 Private Regulation 201
13.1 Private Deposit Insurance 201
13.2 Independent Rating Agencies 205
13.3 Private External Control in Case of Low Solvency 206
13.3.1 The Proposais 207
13.3.2 Analysis 208
13.4 Calibrating Capital Requirements: Mixed Public Private
Regulation 210
V Conclusion
14 Lessons for Banking Regulation 217
Appendixes
A Perfect Renegotiation and Managerial Rent
Extraction 227
B Manipulation of the Performance Measure: An
Example 233
C Portfolio Reallocation between Risky and Safe Assets 239
References 243
Index 257
i
|
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| author | Dewatripont, Mathias Tirole, Jean 1953- |
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| dewey-ones | 332 - Financial economics |
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| dewey-search | 332.1/0973 20 |
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| discipline | Wirtschaftswissenschaften |
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| indexdate | 2024-12-20T09:50:12Z |
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| isbn | 0262041464 9780262513869 |
| language | English |
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| physical | xii, 262 Seiten Diagramme |
| publishDate | 1994 |
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| series | The Walras Pareto lectures |
| series2 | The Walras Pareto lectures |
| spellingShingle | Dewatripont, Mathias Tirole, Jean 1953- The prudential regulation of banks The Walras Pareto lectures Bank Banks and banking -- State supervision Banks and banking -- United States -- State supervision Financial services industry -- State supervision Financial services industry -- United States -- State supervision Banking law Banking law -- United States Bank (DE-588)4004436-1 gnd Regulierung (DE-588)4201190-5 gnd Finanzdienstleistung (DE-588)4212226-0 gnd |
| subject_GND | (DE-588)4004436-1 (DE-588)4201190-5 (DE-588)4212226-0 (DE-588)4078704-7 (DE-588)1071861417 |
| title | The prudential regulation of banks |
| title_alt | La réglementation prudentielle des banques |
| title_auth | The prudential regulation of banks |
| title_exact_search | The prudential regulation of banks |
| title_full | The prudential regulation of banks Mathias Dewatripont and Jean Tirole |
| title_fullStr | The prudential regulation of banks Mathias Dewatripont and Jean Tirole |
| title_full_unstemmed | The prudential regulation of banks Mathias Dewatripont and Jean Tirole |
| title_short | The prudential regulation of banks |
| title_sort | the prudential regulation of banks |
| topic | Bank Banks and banking -- State supervision Banks and banking -- United States -- State supervision Financial services industry -- State supervision Financial services industry -- United States -- State supervision Banking law Banking law -- United States Bank (DE-588)4004436-1 gnd Regulierung (DE-588)4201190-5 gnd Finanzdienstleistung (DE-588)4212226-0 gnd |
| topic_facet | Bank Banks and banking -- State supervision Banks and banking -- United States -- State supervision Financial services industry -- State supervision Financial services industry -- United States -- State supervision Banking law Banking law -- United States Regulierung Finanzdienstleistung USA Konferenzschrift |
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