Banking on Basel The Future of International Financial Regulation

Name: Banking on Basel The Future of International Financial Regulation
Price: 20.61 USD
Availability: InStock
ISBN: 9780881324235

ISBN-10: 088132423X

ISBN-13: 9780881324235

Edition: 2008

Authors: Daniel K. Tarullo, Peterson Institute for International Economics Staff, Peterson Institute for International Economics Staff

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"The turmoil in financial markets that resulted from the 2007 subprime mortgage crisis in the United States indicates the need to dramatically transform regulation and supervision of financial institutions. Would these institutions have been sounder in the 2004 Revised Framework on International Convergence of Capital Measurement and Capital Standards (Basel II accord) - negotiated between 1999 and 2004 - had already been fully implemented? Basel II represents a dramatic change in capital regulation of large banks in the countries represented on the Basel Committee on Banking Supervision. This study evaluates Basel II as a bank regulatory paradigm and as an international arrangement,…

Book details

List price: $26.95
Copyright year: 2008
Publisher: Peterson Institute for International Economics
Publication date: 11/30/2008
Binding: Paperback
Pages: 256
Size: 6.00" wide x 9.25" long x 0.75" tall
Weight: 0.990
Language: English



Preface


Acknowledgments



Introduction


Summary of Argument


Outline of the Book


A Note on Timing



Role of Capital Regulation


Rationale for Capital Regulation


Evolving Role of Capital Regulation


Conclusion



Basel I


Origins of the Accord


Elements of the Accord


Assessment of Basel I


Conclusion



Negotiating Basel II


Launching the Review Process


Curious Release of the First Consultative Paper


Shift to an Internal Ratings-Based Approach


Process of Continuous Revision


Revised Framework


Responding to the Subprime Crisis


Conclusion



Assessing Basel II as a Regulatory Model


Do Regulatory Capital Requirements Matter?


Potential Benefits of the Advanced Internal Ratings-Based Model


Potential Negative Effects of the Advanced Internal Ratings-Based Model


Conclusion


Appendix 5A



Basel II as an International Arrangement


Safety and Soundness


Competitive Equality


Cooperative Supervision of Multinational Banks


Indirect Benefits


Conclusion



Alternatives to Basel II


Retaining a Standardized Approach


Market Discipline: Mandatory Subordinated Debt


Precommitment Approach


Establishing an International Supervisory Role


Eliminating International Cooperation on Safety and Soundness


Conclusion



Conclusions and Recommendations


Recommendations


Implications Beyond Capital Regulation


References


Index


Tables



US bank capital ratios, 1970-81



The world's 10 largest banks, 1974, 1981, and 1988



Capital ratios of selected large banks, 1981 and 1988



Credit conversion factors for off-balance-sheet items in Basel I



Capital charges for debt instrument market risks in the Basel Committee 1993 proposal