Macroprudential Regulation and Sector-Specific Default Risk
نویسندگان
چکیده
منابع مشابه
Bank Pay Caps, Bank Risk, and Macroprudential Regulation
This paper studies the consequences of a regulatory pay cap in proportion to assets on bank risk, bank value, and bank asset allocations. The cap is shown to lower banks’ risk and raise banks’ values by acting against a competitive externality in the labour market. The risk reduction is achieved without the possibility of reduced lending from a Tier 1 increase. The cap encourages diversificatio...
متن کاملMacroprudential capital requirements and systemic risk
In the aftermath of the financial crisis, there is interest in reforming bank regulation such that capital requirements are more closely linked to a bank’s contribution to the overall risk of the financial system. In our paper we compare alternative mechanisms for allocating the overall risk of a banking system to its member banks. We explicitly take into account that overall risk as well as ea...
متن کاملA Macroprudential Approach to Financial Regulation
M any observers have argued that the regulatory framework in place prior to the global fi nancial crisis was defi cient because it was largely “microprudential” in nature (Crockett, 2000; Borio, Furfi ne, and Lowe, 2001; Borio, 2003; Kashyap and Stein, 2004; Kashyap, Rajan, and Stein, 2008; Brunnermeier, Crockett, Goodhart, Persaud, and Shin, 2009; Bank of England, 2009; French et al., 2010). A...
متن کاملMacroprudential Insurance Regulation: A Swiss Case Study
This article provides a case study that analyzes national macroprudential insurance regulation in Switzerland. We consider an insurance market that is based on data from the Swiss private insurance industry. We stress this market with several scenarios related to financial and insurance risks, and we analyze the resulting risk capitals of the insurance companies. This stress-test analysis provi...
متن کاملCapital regulation and macroeconomic activity: Implications for macroprudential policy
This paper studies the macroeconomic effect of changes in the capital requirements set by microprudential bank regulators. The central result is that unanticipated increases in capital requirements lower lending to firms and households, reduce aggregate expenditure and raise credit spreads. A financial accelerator effect is found to amplify the macroeconomic responses to shifts in bank credit s...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: IMF working paper
سال: 2022
ISSN: ['1018-5941', '2227-8885']
DOI: https://doi.org/10.5089/9798400215421.001