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Rules, Discretion, and Macro-Prudential Policy*

Rules, Discretion, and Macro-Prudential Policy* »

Source: Rules, Discretion, and Macro-Prudential Policy

Volume/Issue: 2013/65

Series: IMF Working Papers

Author(s): Itai Agur , and Sunil Sharma

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 March 2013

ISBN: 9781475546699

Keywords: Macro-prudential policy, regulation, rules, decision makers, regulations, Government Policy and Regulation, Government Policy and Regulation,

The paper examines the implementation of macro-prudential policy. Given the coordination, flow of information, analysis, and communication required, macro-prudential frameworks will have weaknesses that make it har...

Reconsidering Bank Capital Regulation

Reconsidering Bank Capital Regulation »

Source: Reconsidering Bank Capital Regulation : A New Combination of Rules, Regulators, and Market Discipline

Volume/Issue: 2014/169

Series: IMF Working Papers

Author(s): Connel Fullenkamp , and Celine Rochon

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 2014

ISBN: 9781498382472

Keywords: Regulation, bank capital regulation, banking, capital adequacy, Government Policy and Regulation, Government Policy and Regulation,

Despite revisions to bank capital standards, fundamental shortcomings remain: the rules for setting capital requirements need to be simpler, and resolution should be an essential part of the capital requirement fra...

What is Shadow Banking?

What is Shadow Banking? »

Source: What is Shadow Banking?

Volume/Issue: 2014/25

Series: IMF Working Papers

Author(s): Stijn Claessens , and Lev Ratnovski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 February 2014

ISBN: 9781475597349

Keywords: Regulation, Policy, banking activities, securitization, Government Policy and Regulation,

There is much confusion about what shadow banking is. Some equate it with securitization, others with non-traditional bank activities, and yet others with non-bank lending. Regardless, most think of shadow banking...

How Did Markets React to Stress Tests?

How Did Markets React to Stress Tests? »

Source: How Did Markets React to Stress Tests?

Volume/Issue: 2015/75

Series: IMF Working Papers

Author(s): Bertrand Candelon , and Amadou Sy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2015

ISBN: 9781484315378

Keywords: macroprudential, bank, capital, governance, recapitalization, Government Policy and Regulation, Government Policy and Regulation,

We use event study methods to compare the market reaction to U.S. and EU-wide stress tests performed from 2009 to 2013. Typically, stress tests have a positive impact on stressed banks' returns. While the 2009 U.S....

Basel Core Principles and Bank Risk

Basel Core Principles and Bank Risk »

Source: Basel Core Principles and Bank Risk : Does Compliance Matter?

Volume/Issue: 2010/81

Series: IMF Working Papers

Author(s): Asli Demirgüç-Kunt , and Enrica Detragiache

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2010

ISBN: 9781451982671

Keywords: regulation and supervision, regulation, banking, standards, bank risk, Financial Institutions and Services: Government Policy and Regulation,

This paper studies whether compliance with the Basel Core Principles for effective banking supervision (BCPs) is associated with bank soundness. Using data for over 3,000 banks in 86countries, we find that neither...

Competition Policy for Modern Banks1

Competition Policy for Modern Banks1 »

Source: Competition Policy for Modern Banks

Volume/Issue: 2013/126

Series: IMF Working Papers

Author(s): Lev Ratnovski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 May 2013

ISBN: 9781484354728

Keywords: Competition Policy, bank competition, mergers, General, Government Policy and Regulation,

Traditional bank competition policy seeks to balance efficiency with incentives to take risk. The main tools are rules guiding entry/exit and consolidation of banks. This paper seeks to refine this view in light of...

The Use and Effectiveness of Macroprudential Policies

The Use and Effectiveness of Macroprudential Policies »

Source: The Use and Effectiveness of Macroprudential Policies : New Evidence

Volume/Issue: 2015/61

Series: IMF Working Papers

Author(s): Eugenio Cerutti , Stijn Claessens , and Luc Laeven

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 March 2015

ISBN: 9781498321051

Keywords: Macroprudential policies, Effectiveness, Procyclicality, credit growth, markets, monetary fund, borrower, instruments, Government Policy and Regulation, Government Policy and Regulation,

Using a recent IMF survey and expanding on previous studies, we document the use of macroprudential policies for 119 countries over the 2000-13 period, covering many instruments. Emerging economies use macroprude...

Contingent Liabilities from Banks

Contingent Liabilities from Banks »

Source: Contingent Liabilities from Banks : How to Track Them?

Volume/Issue: 2015/255

Series: IMF Working Papers

Author(s): Serkan Arslanalp , and Yin Liao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2015

ISBN: 9781513568560

Keywords: bank, banks, banking, risk, Government Policy and Regulation, All Countries,

In this paper, we develop a methodology to assess potential losses to the government that could arise from bank failures. The approach is intended to be simple, parsimonious, and used in real time. It generates an...

An Overview of Macroprudential Policy Tools

An Overview of Macroprudential Policy Tools »

Source: An Overview of Macroprudential Policy Tools

Volume/Issue: 2014/214

Series: IMF Working Papers

Author(s): Stijn Claessens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 December 2014

ISBN: 9781484358115

Keywords: externalities, market failures, procyclicality, systemic risks, banks, credit, risk, capital, Government Policy and Regulation, Government Policy and Regulation,

Macroprudential policies - caps on loan to value ratios, limits on credit growth and other balance sheets restrictions, (countercyclical) capital and reserve requirements and surcharges, and Pigouvian levies - have...

Fat-Tails and their (Un)Happy Endings

Fat-Tails and their (Un)Happy Endings »

Source: Fat-Tails and their (Un)Happy Endings : Correlation Bias and its Implications for Systemic Risk and Prudential Regulation

Volume/Issue: 2011/82

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2011

ISBN: 9781455226061

Keywords: Basel III, correlation bias, copula capital structure model, prudential regulation, systemic risk., correlation, subordinated debt, banking, probability, General Financial Markets: Government Policy and Regulation

The correlation bias refers to the fact that claim subordination in the capital structure of the firm influences claim holders' preferred degree of asset correlation in portfolios held by the firm. Using the copula...