Creating a Safer Financial System: Will the Volcker, Vickers, and Liikanen Structural Measures Help?
Creating a Safer Financial System: Will the Volcker, Vickers, and Liikanen Structural Measures Help?
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创建更安全的金融体系：沃尔克、维克斯和利卡宁结构性措施会有帮助吗？
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发表时间：
2013
期刊：
影响因子：
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通讯作者：
Julian Chow
中科院分区：
文献类型：
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作者：
J. Viñals;C. Pazarbaşioǧlu;J. Surti;Aditya Narain;Michaela Erbenová;Julian Chow
美国、英国，最近，欧盟，提出了直接针对银行复杂性和业务结构的政策措施。与其他基于价格的改革不同，巴塞尔3和G-SIFI附加费），这些建议是单方面制定的，在范围、设计和实施时间表方面存在重大差异。这可能会加剧跨境监管套利，并进一步加重并表监管和跨境处置的负担。本文件分析了实施不同结构性政策措施的潜在影响。它提出了一个务实和协调的方法来制定这些政策，以减少监管套利的风险，并尽量减少意外的后果。在这样做的同时，它还旨在确定一套共同的政策措施，各国可以采取这些措施来重新确定银行业务模式和公司结构的范围。
The U.S., the U.K., and more recently, the E.U., have proposed policy measures directly targeting complexity and business structures of banks. Unlike other, price-based reforms (e.g., Basel 3 and G-SIFI surcharges), these proposals have been developed unilaterally with material differences in scope, design and implementation schedules. This may exacerbate cross-border regulatory arbitrage and put a further burden on consolidated supervision and cross-border resolution. This paper provides an analysis of the potential implications of implementing different structural policy measures. It proposes a pragmatic and coordinated approach to development of these policies to reduce risk of regulatory arbitrage and minimize unintended consequences. In doing so, it also aims to identify a set of common policy measures that countries could adopt to re-scope bank business models and corporate structures.