ERN: Regulation & Supervision (Topic)最新文献_第9页

FinTech and RegTech in a Nutshell, and the Future in a Sandbox 金融科技和监管科技概览，以及沙盒中的未来

ERN: Regulation & Supervision (Topic) Pub Date : 2017-07-01 DOI: 10.2139/ssrn.3088303

D. Arner, J. Barberis, Ross P. Buckley

引用次数: 34

Optimal Regulation of Financial Intermediaries 金融中介机构最优监管

ERN: Regulation & Supervision (Topic) Pub Date : 2017-07-01 DOI: 10.1257/AER.20161488

Sebastian Di Tella

引用次数: 31

Does Banks’ Systemic Importance Affect Their Capital Structure and Balance Sheet Adjustment Processes? 银行的系统重要性是否影响其资本结构和资产负债表调整过程?

ERN: Regulation & Supervision (Topic) Pub Date : 2017-06-26 DOI: 10.2139/ssrn.2986831

Yassine Bakkar, Olivier De Jonghe, Amine Tarazi

引用次数: 26

Risk Shifting and Regulatory Arbitrage: Evidence from Operational Risk 风险转移与监管套利:来自操作风险的证据

ERN: Regulation & Supervision (Topic) Pub Date : 2017-06-23 DOI: 10.2139/ssrn.2991789

Brian Clark, Alireza Ebrahim

引用次数: 1

Macroprudential Policy and Household Wealth Inequality 宏观审慎政策与家庭财富不平等

ERN: Regulation & Supervision (Topic) Pub Date : 2017-06-02 DOI: 10.2139/ssrn.2989050

J. Carpantier, J. Olivera, Philippe Van Kerm

{"title":"Macroprudential Policy and Household Wealth Inequality","authors":"J. Carpantier, J. Olivera, Philippe Van Kerm","doi":"10.2139/ssrn.2989050","DOIUrl":"https://doi.org/10.2139/ssrn.2989050","url":null,"abstract":"Macroprudential policies, such as caps on loan-to-value (LTV) ratios, have become part of the policy paradigm in emerging markets and advanced countries alike. Given that housing is the most important asset in household portfolios, relaxing or tightening access to mortgages may affect the distribution of household wealth in the country. In a stylised model we show that the final level of wealth inequality depends on the size of the LTV ratio, housing prices, credit cost and the strength of a bequest motive; ultimately with no unequivocal effect of LTV ratios on wealth inequality. These trade-offs are illustrated with estimations of \"Gini Recentered Influence Function\" regressions on household survey data from 12 Eurozone countries that participated in the first wave of the Household Finance and Consumption Survey (HFCS). The results show that, among the households with active mortgages, high LTV ratios at the time of acquisition are related to high contributions to wealth inequality today, while house price increases are negatively related to inequality contributions. A proxy for the strength of bequest motives tends to be negatively related with wealth inequality, but credit cost does not show a significant link to the distribution of wealth.","PeriodicalId":376194,"journal":{"name":"ERN: Regulation & Supervision (Topic)","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124959231","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 32

Формирование Системы Пруденциального Надзора За Профессиональными Участниками Рынка Ценных Бумаг (Formation of a System of Prudential Supervision for Professional Participants of the Securities Market)

ERN: Regulation & Supervision (Topic) Pub Date : 2017-05-15 DOI: 10.2139/SSRN.2968455

K. Korishchenko, S. Morozov

{"title":"Формирование Системы Пруденциального Надзора За Профессиональными Участниками Рынка Ценных Бумаг (Formation of a System of Prudential Supervision for Professional Participants of the Securities Market)","authors":"K. Korishchenko, S. Morozov","doi":"10.2139/SSRN.2968455","DOIUrl":"https://doi.org/10.2139/SSRN.2968455","url":null,"abstract":"Russian Abstract: Цель данной работы – разработка системы мер пруденциального надзора за деятельностью профессиональных участников рынка ценных бумаг для целей минимизации системных рисков и обеспечения стабильности финансовой системы, повышения уровня защиты интересов инвесторов и вкладчиков и создания справедливых и прозрачных финансовых рынков. В процессе работы проводилось исследование применения мер пруденциального надзора в отношении российских банков как основных участников отечественного финансового рынка, гармонизация существующих мер пруденциального банковского надзора по отношению к профучастникам, а также исследование мирового опыта проведения указанных мер на примере регулирующих органов Великобритании, Австралии и США. \u0000English Abstract: The purpose of this work is the development of a system of prudential supervision measures for the activities of professional participants in the securities market for the purpose of minimizing systemic risks and ensuring the stability of the financial system, enhancing the protection of investors and depositors and creating fair and transparent financial markets. In the course of the research, a study was conducted on the application of prudential supervision measures in relation to Russian banks as the main participants of the domestic financial market, the harmonization of existing prudential banking supervision measures with respect to professional participants, and a study of the world experience in carrying out these measures using the example of the regulatory bodies of Great Britain, Australia and the USA.","PeriodicalId":376194,"journal":{"name":"ERN: Regulation & Supervision (Topic)","volume":"96 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122912896","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Basel III Capital Buffer Requirements and Credit Union Prudential Regulation: Canadian Evidence 巴塞尔协议III资本缓冲要求和信用合作社审慎监管:加拿大证据

ERN: Regulation & Supervision (Topic) Pub Date : 2017-04-21 DOI: 10.2139/ssrn.2815731

Hélyoth T. S. Hessou, Van Son Lai

引用次数: 23

Monetary Policy, Macroprudential Regulation and Inequality 货币政策、宏观审慎监管与不平等

ERN: Regulation & Supervision (Topic) Pub Date : 2017-04-12 DOI: 10.2139/ssrn.2970459

P. Monnin

{"title":"Monetary Policy, Macroprudential Regulation and Inequality","authors":"P. Monnin","doi":"10.2139/ssrn.2970459","DOIUrl":"https://doi.org/10.2139/ssrn.2970459","url":null,"abstract":"The 2008 global financial crisis profoundly changed the role of central banks in the economy. First, central banks engaged in strong expansionary monetary policy, using new unconventional tools to boost economic activity. Second, they were key to containing financial instability, which led them to implement new macroprudential policies to foster future financial stability. The debate about whether these policies have been effective is still ongoing, and often neglects two other crucial issues: What has been the impact of these policies on income and wealth distribution? Does inequality of income and wealth affect whether central bank policies reach their targets? This note highlights research on these two questions presented during a CEP IMF workshop on “Monetary Policy, Macroprudential Regulation and Inequality” and puts them into perspective with other recent theoretical and empirical results. Evidence shows that monetary policy and macroprudential regulation are not neutral in terms of income and wealth distribution. Conventional and unconventional expansive monetary policy both appear to decrease income inequality, mainly through their impact on the labor market, and to increase wealth inequality. Theoretically, macroprudential regulation could also affect inequality, but empirical studies exploring this hypothesis are scarce. Income and wealth distribution also influences the transmission of monetary policy impulses to the aggregate economy. To design effective monetary policy, it is crucial to assess whether the current income and wealth structures in a country accentuate or dampen monetary impulses, and to what extent they do so. Moreover, theoretical and empirical evidence points to an effect of inequality on financial stability. A thorough understanding of this impact is key to shaping optimal monetary policy and macroprudential regulation.","PeriodicalId":376194,"journal":{"name":"ERN: Regulation & Supervision (Topic)","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126859178","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 21

Evaluating Regulation within an Artificial Financial System – A Framework and Its Application to the Liquidity Coverage Ratio Regulation 评估人工金融体系中的监管——一个框架及其在流动性覆盖率监管中的应用

ERN: Regulation & Supervision (Topic) Pub Date : 2017-04-07 DOI: 10.2139/ssrn.2966007

J. Riedler, Frank Brueckbauer

{"title":"Evaluating Regulation within an Artificial Financial System – A Framework and Its Application to the Liquidity Coverage Ratio Regulation","authors":"J. Riedler, Frank Brueckbauer","doi":"10.2139/ssrn.2966007","DOIUrl":"https://doi.org/10.2139/ssrn.2966007","url":null,"abstract":"We develop a general model of the financial system that allows for the evaluation of bank regulation. Our framework comprises the agents and institutions that have proved crucial in the propagation of the subprime mortgage shock in the U.S. into a global financial crisis: Commercial banks and investment banks, which can also be interpreted as shadow banks, interact on wholesale debt markets. Beside a market for short term interbank loans and long term bank bonds, other funding sources include insured customer deposits, uninsured investor deposits and repos. While credit to the real sector is the principal asset of commercial banks, investment banks specialize in trading securities, which may differ according to risk, maturity and liquidity. As a first application of the model we implement the liquidity coverage ratio (LCR) regulation and analyze its impact on bank balance sheets, interest rates, the transmission of monetary policy and the stability of bank lending in the face of shocks. We find that the LCR regulation reduces the supply of loans to the real sector, increases the maturity and interest rate of long term wholesale debt, and strongly diminishes the role of the overnight interbank market as a funding source. Our simulations suggest that the transmission of changes to short term monetary policy rates is severely impaired when the LCR regulation is binding. Furthermore, we find that a strong confidence shock can lead to a protracted credit crunch under the liquidity regulation.","PeriodicalId":376194,"journal":{"name":"ERN: Regulation & Supervision (Topic)","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131711779","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Modeling of Bank Capital Adequacy Ratios via a Lévy Process-Driven Model 基于lsamvy过程驱动模型的银行资本充足率建模

ERN: Regulation & Supervision (Topic) Pub Date : 2017-03-28 DOI: 10.2139/ssrn.2942453

F. Chakroun

引用次数: 0