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The Financial Stability Aspects of the EU-wide Stress Test 欧盟范围内压力测试的金融稳定方面
IF 2.6
Journal of Financial Regulation Pub Date : 2018-09-10 DOI: 10.1093/JFR/FJY009
Andrea Ebner
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引用次数: 5
The Disruption of Retail Banking: A Competition Analysis of the Implications for Financial Stability and Monetary Policy 零售银行业的颠覆:对金融稳定和货币政策影响的竞争分析
IF 2.6
Journal of Financial Regulation Pub Date : 2018-09-10 DOI: 10.1093/JFR/FJY006
P. Siciliani
{"title":"The Disruption of Retail Banking: A Competition Analysis of the Implications for Financial Stability and Monetary Policy","authors":"P. Siciliani","doi":"10.1093/JFR/FJY006","DOIUrl":"https://doi.org/10.1093/JFR/FJY006","url":null,"abstract":"This article analyses the competition impact of the implementation of two recent regulatory reforms aimed at boosting competition in retail banking by reducing consumer search and switching costs and empowering different business models whereby non-bank operators are able to compete with banks with respect to specific activities such as the provision of payment services. The article investigates how banks may react strategically in order to fend off the resulting competition threats which could undermine retail banks’ reliance on the supply of sight retail deposits as their main source of funding. It also explores how financial regulators, in particular prudential authorities should respond, mindful of the risk for unintended consequences.","PeriodicalId":42830,"journal":{"name":"Journal of Financial Regulation","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2018-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/JFR/FJY006","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43045637","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: 4
Third-Country Equivalence and Access to the EU Financial Markets Including in Case of Brexit 第三国对等和进入欧盟金融市场，包括英国脱欧的情况
IF 2.6
Journal of Financial Regulation Pub Date : 2018-09-10 DOI: 10.1093/JFR/FJY005
E. Wymeersch
{"title":"Third-Country Equivalence and Access to the EU Financial Markets Including in Case of Brexit","authors":"E. Wymeersch","doi":"10.1093/JFR/FJY005","DOIUrl":"https://doi.org/10.1093/JFR/FJY005","url":null,"abstract":"","PeriodicalId":42830,"journal":{"name":"Journal of Financial Regulation","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2018-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/JFR/FJY005","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43830722","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: 2
Sovereign Bond Contracts: Flaws in the Public Data? 主权债券合约:公共数据的缺陷?
IF 2.6
Journal of Financial Regulation Pub Date : 2018-09-01 DOI: 10.1093/jfr/fjy010
Andrea E Kropp,W Mark C Weidemaier,Mitu Gulati
{"title":"Sovereign Bond Contracts: Flaws in the Public Data?","authors":"Andrea E Kropp,W Mark C Weidemaier,Mitu Gulati","doi":"10.1093/jfr/fjy010","DOIUrl":"https://doi.org/10.1093/jfr/fjy010","url":null,"abstract":"Abstract Commercial databases now make available to paying clients information about the legal terms in sovereign loan contracts. This information is important to academic researchers, to policy institutions such as the International Monetary Fund, and to investors and other market actors. For a random sample of 10 countries, the authors compare this data to a hand-coded sample of bond terms. They find significant error rates in the commercial databases, which vary significantly by country and by the legal term at issue. In some cases, they document error rates well over 75 per cent. They also describe important limitations in the data, especially the use of binary coding schemes that obscure important differences in the rights conferred by different sovereign loan contracts.","PeriodicalId":42830,"journal":{"name":"Journal of Financial Regulation","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2018-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138538043","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: 0
How Effective are the Order-to-Trade Ratio and Resting Time Regulations? 订单交易比率和休市时间规定的效果如何?
IF 2.6
Journal of Financial Regulation Pub Date : 2018-08-31 DOI: 10.1093/JFR/FJY007
Viktoria Dalko, Michael H. Wang
{"title":"How Effective are the Order-to-Trade Ratio and Resting Time Regulations?","authors":"Viktoria Dalko, Michael H. Wang","doi":"10.1093/JFR/FJY007","DOIUrl":"https://doi.org/10.1093/JFR/FJY007","url":null,"abstract":"","PeriodicalId":42830,"journal":{"name":"Journal of Financial Regulation","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2018-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/JFR/FJY007","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43950631","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: 3
Building a Stable European Deposit Insurance Scheme 建立稳定的欧洲存款保险制度
IF 2.6
Journal of Financial Regulation Pub Date : 2018-08-09 DOI: 10.1093/jfr/fjy004
Dirk Schoenmaker
{"title":"Building a Stable European Deposit Insurance Scheme","authors":"Dirk Schoenmaker","doi":"10.1093/jfr/fjy004","DOIUrl":"https://doi.org/10.1093/jfr/fjy004","url":null,"abstract":"","PeriodicalId":42830,"journal":{"name":"Journal of Financial Regulation","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2018-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138538049","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: 0
State Contingent Debt as Insurance for Euro Area Sovereigns 国家或有债务作为欧元区主权国家的保险
IF 2.6
Journal of Financial Regulation Pub Date : 2018-04-01 DOI: 10.1093/JFR/FJZ003
M. Demertzis, S. Zenios
{"title":"State Contingent Debt as Insurance for Euro Area Sovereigns","authors":"M. Demertzis, S. Zenios","doi":"10.1093/JFR/FJZ003","DOIUrl":"https://doi.org/10.1093/JFR/FJZ003","url":null,"abstract":"\u0000 The authors provide a novel angle to the ongoing discussions by the G20 on sovereign contingent debt and argue that contingent debt could provide market-based insurance to protect the euro area from future debt crises. Risk-sharing with the markets is a practical way forward in the context of the Franco-German debate on risk-sharing among EU member states vs system-wide risk reduction. The financial innovation of contingent debt is a feasible euro area reform that would not introduce risk-sharing between states or require institutional reforms or Treaty changes. However, coordination would be needed. The authors’ suggestion fills a gap in the proposals on the completion of the banking union and the possible establishment of a European Monetary Fund (EMF). These proposals offer institutions-based solutions to crises, with the banking union providing safety regulations that will make banking institutions more resilient, while the EMF will be a ‘fire brigade’ to be called on in emergencies. What has not been tapped are the markets, whose tolerant behaviour to sovereign demands encouraged the build up of debt, while their finicky response exacerbated the crisis.","PeriodicalId":42830,"journal":{"name":"Journal of Financial Regulation","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2018-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/JFR/FJZ003","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44938262","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: 8
Rethinking Operational Risk Capital Requirements 重新思考运营风险资本要求
IF 2.6
Journal of Financial Regulation Pub Date : 2018-03-01 DOI: 10.1093/JFR/FJX009
Peter Sands, Gordon Y. Liao, Yueran Ma
{"title":"Rethinking Operational Risk Capital Requirements","authors":"Peter Sands, Gordon Y. Liao, Yueran Ma","doi":"10.1093/JFR/FJX009","DOIUrl":"https://doi.org/10.1093/JFR/FJX009","url":null,"abstract":"Operational risk capital requirements represent a relative backwater of the Basel capital framework for banks. We examine both the existing Basel II framework and the latest Basel Committee proposals for reform and conclude that neither are effective in creating the incentives and loss absorbency to minimize negative externalities from operational risk events. We suggest an alternative approach that we believe would be much more effective in achieving the regulatory objectives. We do not offer a view on the amount of capital required, focusing instead on the methodology and structure of the capital requirement.","PeriodicalId":42830,"journal":{"name":"Journal of Financial Regulation","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2018-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/JFR/FJX009","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47470687","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: 14
The Scope for Financial Stability Considerations in the Fulfilment of the Mandate of the ECB/Eurosystem 在履行欧洲央行/欧元体系职责时考虑金融稳定的范围
IF 2.6
Journal of Financial Regulation Pub Date : 2018-03-01 DOI: 10.1093/JFR/FJY001
G. Psaroudakis
{"title":"The Scope for Financial Stability Considerations in the Fulfilment of the Mandate of the ECB/Eurosystem","authors":"G. Psaroudakis","doi":"10.1093/JFR/FJY001","DOIUrl":"https://doi.org/10.1093/JFR/FJY001","url":null,"abstract":"","PeriodicalId":42830,"journal":{"name":"Journal of Financial Regulation","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2018-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/JFR/FJY001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41334411","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: 9
Too Complex to Work: A Critical Assessment of the Bail-in Tool under the European Bank Recovery and Resolution Regime 过于复杂而无法发挥作用:对欧洲银行复苏和处置机制下纾困工具的批判性评估
IF 2.6
Journal of Financial Regulation Pub Date : 2018-03-01 DOI: 10.1093/jfr/fjy002
Tobias H Tröger
{"title":"Too Complex to Work: A Critical Assessment of the Bail-in Tool under the European Bank Recovery and Resolution Regime","authors":"Tobias H Tröger","doi":"10.1093/jfr/fjy002","DOIUrl":"https://doi.org/10.1093/jfr/fjy002","url":null,"abstract":"","PeriodicalId":42830,"journal":{"name":"Journal of Financial Regulation","volume":null,"pages":null},"PeriodicalIF":2.6,"publicationDate":"2018-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138538046","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: 0
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