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Displaying results 1 to 9 of 9.

  1. Embedded supervision
    how to build regulation into decentralised finance
    Author: Auer, Raphael A.
    Published: May 2022
    Publisher:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    The emergence of so-called "decentralised finance" (DeFi) and a shadow financial system of cryptocurrency exchanges and stablecoin issuers raises the challenge of how to apply technology-neutral regulation so that similar risks are subject to the... more

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    The emergence of so-called "decentralised finance" (DeFi) and a shadow financial system of cryptocurrency exchanges and stablecoin issuers raises the challenge of how to apply technology-neutral regulation so that similar risks are subject to the same rules. This paper makes the case for embedded supervision, ie a regulatory framework that provides for compliance in decentralised markets to be automatically monitored by reading the market’s ledger. This reduces the need for firms to actively collect, verify and deliver data. The paper explores the conditions under which distributed ledger data may be used to monitor compliance. To this end, a decentralised market is modelled that replaces today's intermediary-based verification of legal data with blockchain-enabled credibility based on economic consensus. The key results set out the conditions under which the market’s economic consensus would be strong enough to guarantee that transactions are economically final, so that supervisors can trust the distributed ledger’s data. The paper concludes with a discussion of the legislative and operational requirements that would promote low-cost supervision and a level playing field for small and large firms.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/263701
    Series: CESifo working paper ; no. 9771 (2022)
    Subjects: decentralised finance; DeFi; tokenisation; asset-backed tokens; stablecoins; crypto-assets; cryptocurrencies; CBDC; regtech; suptech; regulation; supervision; Basel III; proportionality; blockchain; distributed ledger technology; digital currencies; proof
    Scope: 1 Online-Ressource (circa 30 Seiten), Illustrationen
  2. Usability of bank capital buffers
    the role of market expectations
    Author: Abad, José M.; Garcia Pascual, Antonio
    Published: 2022 JAN
    Publisher:  International Monetary Fund, [Washington, D.C.]

    Following the COVID shock, supervisors encouraged banks to use capital buffers to support the recovery. However, banks have been reluctant to do so. Provided the market expects a bank to rebuild its buffers, any draw-down will open up a capital... more

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    Following the COVID shock, supervisors encouraged banks to use capital buffers to support the recovery. However, banks have been reluctant to do so. Provided the market expects a bank to rebuild its buffers, any draw-down will open up a capital shortfall that will weigh on its share price. Therefore, a bank will only decide to use its buffers if the value creation from a larger loan book offsets the costs associated with a capital shortfall. Using market expectations, we calibrate a framework for assessing the usability of buffers. Our results suggest that the cases in which the use of buffers make economic sense are rare in practice

     
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  3. Zimbabwe
    technical assistance report : Basel III implementation
    Published: March 2022
    Publisher:  International Monetary Fund, Washington, D.C.

    As a follow-up to the 2019 FSSR, a remote TA mission supported the RBZ with the implementation of Basel III liquidity standards. The mission reviewed the RBZ drafts of the LCR and NSFR frameworks, discussed identified material gaps with the BSD... more

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    Duale Hochschule Baden-Württemberg Heidenheim, Bibliothek
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    Thüringer Universitäts- und Landesbibliothek
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    Fachhochschule Kiel, Zentralbibliothek
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Universitätsbibliothek Leipzig
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    Duale Hochschule Baden-Württemberg Mosbach, Bibliothek
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    Hochschule Offenburg, University of Applied Sciences, Bibliothek Campus Offenburg
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    E-Book International Monetary Fund
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    Hochschulbibliothek Pforzheim, Bereichsbibliothek Technik und Wirtschaft
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    e-Book International Monetary Fund eLibrary
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    Hochschule Albstadt-Sigmaringen, Bibliothek Sigmaringen
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    Duale Hochschule Baden-Württemberg Villingen-Schwenningen, Bibliothek
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    E_Book IMF
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    As a follow-up to the 2019 FSSR, a remote TA mission supported the RBZ with the implementation of Basel III liquidity standards. The mission reviewed the RBZ drafts of the LCR and NSFR frameworks, discussed identified material gaps with the BSD management and relevant supervisors, and provided many recommendations on enhancing the drafts of liquidity regulations, monitoring tools, reporting templates, and disclosure. Further actions for implementing Basel III liquidity standards were agreed with the RBZ

     
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  4. Higher capital requirements and credit supply
    evidence from Italy
    Author: Galardo, Maddalena; Vacca, Valerio
    Published: [2022]
    Publisher:  Banca d'Italia Eurosistema, [Rom]

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: Temi di discussione / Banca d'Italia ; number 1372 (June 2022)
    Subjects: financial institutions; Basel III; capital requirements; forced safety effect; lending conditions
    Scope: 1 Online-Ressource (circa 90 Seiten), Illustrationen
  5. Capital requirements, market structure, and heterogeneous banks
    Author: Müller, Carola
    Published: [12. Mai 2022]
    Publisher:  Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, Halle (Saale), Germany

    Bank regulators interfere with the efficient allocation of resources for the sake of financial stability. Based on this trade-off, I compare how different capital requirements affect default probabilities and the allocation of market shares across... more

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    Bank regulators interfere with the efficient allocation of resources for the sake of financial stability. Based on this trade-off, I compare how different capital requirements affect default probabilities and the allocation of market shares across heterogeneous banks. In the model, banks‘ productivity determines their optimal strategy in oligopolistic markets. Higher productivity gives banks higher profit margins that lower their default risk. Hence, capital requirements indirectly aiming at highproductivity banks are less effective. They also bear a distortionary cost: Because incumbents increase interest rates, new entrants with low productivity are attracted and thus average productivity in the banking market decreases.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/256924
    Series: IWH discussion papers ; 2022, no. 15 (May 2022)
    Subjects: bank competition; bank regulation; Basel III; capital requirements; heterogeneous banks; leverage ratio
    Scope: 1 Online-Ressource (III, 54 Seiten, 2,55 MB), Diagramm
  6. Basel III and SME bank finance in Germany
    Author: Marek, Philipp; Stein, Ingrid
    Published: [2022]
    Publisher:  Deutsche Bundesbank, Frankfurt am Main

    This paper examines how Basel III capital reforms affected bank lending in Ger- many. We focus on the increase of minimum risk-based capital requirements and the introduction of the leverage ratio. The announcement of stricter risk-based capital... more

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    This paper examines how Basel III capital reforms affected bank lending in Ger- many. We focus on the increase of minimum risk-based capital requirements and the introduction of the leverage ratio. The announcement of stricter risk-based capital regulation significantly affected low capitalized banks. The impact depends on a bank's credit risk model, i.e. whether a bank applies the standardized approach (SA) or an internal ratings-based approach (IRBA) to determine risk weights. Low capitalized SA banks significantly cut lending whereas IRBA banks did not ad- just lending volumes. By contrast, low capitalized IRBA banks significantly in- creased collateralization while low capitalized SA banks adjusted collateralization only marginally. Moreover, the impact on SMEs and large companies also differs. In terms of lending, SMEs were affected more strongly, whilst in terms of collateralization the impact on large companies was bigger. The announcement of the leverage ratio had, however, a rather limited impact. We find some evidence that low capitalized banks reduced lending. Furthermore, low capitalized banks somewhat tightened collateral requirements, especially for large companies.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9783957299147
    Other identifier:
    hdl: 10419/265433
    Series: Discussion paper / Deutsche Bundesbank ; no 2022, 37
    Subjects: Basel III; bank lending; nancial regulation; small and medium-sizedenterprises (SMEs)
    Scope: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  7. The adverse effect of contingent convertible bonds on bank stability
    Author: Ludolph, Melina
    Published: [18. Januar 2022]
    Publisher:  Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, Halle (Saale), Germany

    This paper examines the impact of issuing contingent convertible (CoCo) bonds on bank risk. I apply a matching-based difference-in-differences approach to banklevel data for 246 publicly traded European banks and 61 CoCo issues from 2008−2018. My... more

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    Universitäts- und Landesbibliothek Sachsen-Anhalt / Zentrale
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    This paper examines the impact of issuing contingent convertible (CoCo) bonds on bank risk. I apply a matching-based difference-in-differences approach to banklevel data for 246 publicly traded European banks and 61 CoCo issues from 2008−2018. My estimation results reveal that issuing CoCo bonds that meet the criteria for additional tier 1 (AT1) capital results in significantly higher z-scores one to three years after the issuance. Rather than having a net negative impact, issuing CoCos seems to impede a positive time trend towards greater bank stability. This study adds to the empirical literature on the risk-effect of contingent convertibles by identifying the causal effect of AT1 CoCo bonds on reported risk changes over a three-year post-treatment horizon based on a comprehensive sample of European banks. The results confirm theoretical predictions that currently outstanding CoCo bonds create incentives for excessive risk-taking.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/249333
    Series: IWH discussion papers ; 2022, no. 1 (January 2022)
    Subjects: AT1 capital; bank risk; Basel III; CoCo bonds
    Scope: 1 Online-Ressource (III, 50 Seiten, 1,35 MB), Diagramme
  8. Zimbabwe
    technical assistance report : Basel III implementation
    Published: March 2022
    Publisher:  International Monetary Fund, Washington, D.C.

    As a follow-up to the 2019 FSSR, a remote TA mission supported the RBZ with the implementation of Basel III liquidity standards. The mission reviewed the RBZ drafts of the LCR and NSFR frameworks, discussed identified material gaps with the BSD... more

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
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    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
    Inter-library loan:
    Unlimited inter-library loan, copies and loan

     

    As a follow-up to the 2019 FSSR, a remote TA mission supported the RBZ with the implementation of Basel III liquidity standards. The mission reviewed the RBZ drafts of the LCR and NSFR frameworks, discussed identified material gaps with the BSD management and relevant supervisors, and provided many recommendations on enhancing the drafts of liquidity regulations, monitoring tools, reporting templates, and disclosure. Further actions for implementing Basel III liquidity standards were agreed with the RBZ

     
    Export to reference management software   RIS file
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  9. Usability of bank capital buffers
    the role of market expectations
    Author: Abad, José M.; Garcia Pascual, Antonio
    Published: 2022 JAN
    Publisher:  International Monetary Fund, [Washington, D.C.]

    Following the COVID shock, supervisors encouraged banks to use capital buffers to support the recovery. However, banks have been reluctant to do so. Provided the market expects a bank to rebuild its buffers, any draw-down will open up a capital... more

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
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    Verlag (kostenfrei)

    Location:
    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
    Inter-library loan:
    Unlimited inter-library loan, copies and loan

     

    Following the COVID shock, supervisors encouraged banks to use capital buffers to support the recovery. However, banks have been reluctant to do so. Provided the market expects a bank to rebuild its buffers, any draw-down will open up a capital shortfall that will weigh on its share price. Therefore, a bank will only decide to use its buffers if the value creation from a larger loan book offsets the costs associated with a capital shortfall. Using market expectations, we calibrate a framework for assessing the usability of buffers. Our results suggest that the cases in which the use of buffers make economic sense are rare in practice

     
    Export to reference management software   RIS file
      BibTeX file