Optimale Regulierung bleibt eine Herausforderung!

2011 ◽  
Vol 55 (1-2) ◽  
Author(s):  
Hiltrud Thelen-Pischke
Keyword(s):  
Financial Crisis ◽  
Financial Institutions ◽  
Business Models ◽  
Financial Regulation ◽  
Basel Ii ◽  
Lessons Learned ◽  
Regulatory Environment ◽  
Basel Iii ◽  
Key Factor ◽  
Recent Financial Crisis

The challenge of perfect regulation! Comments to the debate on reforms of the financial sector. In the light of the recent financial crisis the question was raised, if there is any chance of regulation at all to help prevent future crises. As lessons learned from the financial crisis regulators have already adopted numerous measures that aim to enhance financial regulation. Most prominent is the reform of the well-known Basel II soon to be Basel III framework. The following paper takes a closer look on the most important measures against the background of the economic aspects of financial intermediation. The overall focus of this paper is the question if the reform of Basel II can improve the regulatory environment. This includes an analysis of how the changes in financial regulation will affect financial institutions. As a result the paper will show that most of the discussed and adopted measures actually lead to greater regulatory effectiveness. Nevertheless, the key factor for more effective financial regulation is a deep knowledge with regard to financial institutions and their business models. Only a thourough understanding of each individual bank and the system as a whole puts the regulator in the position to assess risks which might lead to the next financial crisis and to react appropriately.

Changes in the U.S. banking Sector architectureas a Result of 2008-2009 Crisis

2014 ◽  
pp. 84-96
Author(s):  
P. Zakharov
Keyword(s):  
Financial Crisis ◽  
Federal Government ◽  
Financial Institutions ◽  
Business Models ◽  
Banking Sector ◽  
Financial Regulation ◽  
Banking Business ◽  
The Usa ◽  
Regulation Reform ◽  
The U.S

The financial crisis in the USA has led to major changes in the banking sector architecture. Many financial institutions went bankrupt and were absorbed by competitors, while others were compelled to change their business models. That has resulted in consolidation of the banking sector. Significant developments were also imposed by B. Obama’s financial regulation reform and unprecedented interference of the federal government in banking business.

Transparency of Financial Regulation

2014 ◽  
pp. 257-285
Author(s):  
James R. Barth ◽  
Apanard (Penny) Prabha ◽  
Clas Wihlborg
Keyword(s):  
Financial Institutions ◽  
Financial Regulation ◽  
Global Financial Crisis ◽  
Capital Adequacy ◽  
Regulatory Environment ◽  
Basel Iii ◽  
The Public ◽  
Market Participants ◽  
The Global Financial Crisis

This chapter explores the concept of transparency in financial regulation from the perspective of the public. It looks at the role of risk assessment in transparency and the regulatory environment as well as the importance of pluralism in competition in the financial sector. The chapter first considers the meaning of “transparency of financial regulation” and its relation to simplicity. It then traces the progression of the Basel capital adequacy framework from Basel I to Basel III, along with the sources of lack of transparency in the framework. It also presents data showing the lack of transparency in the Basel Capital Accord and countries’ regulatory responses to the global financial crisis. Differences in the implementation of regulation regarding systemically important financial institutions are outlined. Finally, it discusses recent proposals for the separation or separability of financial activities with the goal of enhancing the transparency of banks’ activities for both market participants and resolution authorities.

scholarly journals The Brazilian Financial System, Cyber Security Policy and Personal Data Protection

2020 ◽  
Vol 12 (2) ◽  
pp. 172-186
Author(s):  
Carlos Goettenauer
Keyword(s):  
Financial Institutions ◽  
Data Protection ◽  
Cyber Security ◽  
Security Policy ◽  
Business Models ◽  
Financial System ◽  
Regulatory Environment ◽  
Regulatory Regime ◽  
Legal Regime ◽  
The Creation

Purpose ”“ This work intends to map and analyze, through the polycentric regulation proposal introduced by Julia Black, the contribution of the actors involved in the creation of the data protection regulatory legal regime in financial system, after the introduction of the cyber security policy by the Central Bank of Brazil, the approval of the General Data Protection State and new financial business models. Methodology ”“ It first analyses the regulatory and statutory norms associated with data protection in the financial system, combined with the cyber security policies published by financial institutions. After this, it identifies the actors who contribute to the regulatory environment and their respective regulatory role. The final step is the creation of a table to categorize each actor’s functions in the regulatory regime. Findings ”“ The research concludes that the contracts between financial institutions and technology play a major role on creating and hybrid regulatory environment for data protection. Originality ”“ The work is an original analysis of the data protection regulatory legal regime in financial system, using polycentric regulation not only as a theoretical reference, but also as a methodological framework.

8. Micro-prudential regulation I

2019 ◽  
pp. 329-406
Author(s):  
Iris H-Y Chiu ◽  
Joanna Wilson
Keyword(s):  
Financial Crisis ◽  
Risk Taking ◽  
Global Financial Crisis ◽  
Basel Ii ◽  
Capital Adequacy ◽  
Basel Iii ◽  
Prudential Regulation ◽  
Basel Committee ◽  
The Global Financial Crisis ◽  
Capital Adequacy Regulation

This chapter studies capital adequacy regulation, which prescribes that banks can only take certain levels of risk that are supported by adequate levels of capital. In this way, capital adequacy rules provide a form of assurance that banks with adequate levels of capital are likely able to withstand losses that may result from their risk-taking. The Basel Committee developed its first set of capital adequacy standards in the Basel I Capital Accord of 1988. It was subsequently overhauled into the Basel II Capital Accord in 2003. After the global financial crisis of 2007–9, the Basel II Accord’s shortcomings were extensively discussed and the Basel Committee introduced a package of reforms in order to plug the gaps in Basel II. The Basel III package is the most extensive suite of micro-prudential regulation reforms seen to date, as they deal with capital adequacy and a range of other micro-prudential standards.

The Changing Face of Auditor Reporting in the Broker-Dealer Industry

2014 ◽  
Vol 8 (1) ◽  
pp. A1-A11 ◽  
Author(s):  
Jean C. Bedard ◽  
Nathan Cannon ◽  
Anne L. Schnader
Keyword(s):  
Financial Crisis ◽  
Audit Quality ◽  
Internal Controls ◽  
Regulatory Environment ◽  
Public Companies ◽  
Root Cause ◽  
Industry Sector ◽  
Auditor Reporting ◽  
Recent Financial Crisis

SUMMARY The broker-dealer (BD) industry is facing increasing scrutiny because of the recent financial crisis and well-publicized scandals. As is often the case for public companies, a root cause of the problems underlying scandals in the BD sector is ineffective internal controls. This paper describes the current regulatory environment for auditors of BDs, focusing on Congressional actions taken, as well as guidance for auditors in preparing their reports on clients' internal controls and compliance with regulations as required by the SEC. We describe aspects of current attestation standards contributing to uncertainty with respect to the level of assurance that auditors should obtain when evaluating their clients' internal controls for purposes of SEC reporting, and evidence from regulators on the variability in audit quality. Then, we describe the SEC's proposed changes to BD reporting and the PCAOB's proposal for related attestation standards. We conclude with some thoughts about the implications of these proposals for auditing and reporting in this important industry sector.

scholarly journals Repercusiones monetarias de la crisis financiera de fines del siglo xx

UDA AKADEM ◽  
2018 ◽  
pp. 4-19
Author(s):  
Carlos Cordero-Díaz
Keyword(s):  
Financial Crisis ◽  
Central Bank ◽  
Financial Institutions ◽  
Social Impact ◽  
Financial Regulation ◽  
Financial System ◽  
Explanatory Factors ◽  
Monetary System ◽  
The Impact ◽  
Siglo Xx

La crisis que comprometió al sistema financiero ecuatoriano a fines del siglo XX es de las más fuertes que ha enfrentado nuestro país, comparable, en cuanto a sus implicaciones macroeconómicas y reformas económicas, con la que se desarrolló en los años veinte del siglo pasado; pero más devastadora en términos de los efectos sociales que tuvo. Los testimonios de personas que perdieron sus recursos económicos, primero en el feriado bancario y luego con la liquidación de varios bancos e instituciones financieras, demuestran la magnitud de la crisis.La culminación de la crisis financiera coincide con el cambio del régimen monetario en nuestro país, cambio que también provocó pérdidas a ciudadanos y empresas, ya que el elevado tipo de cambio utilizado, provocó una significativa reducción en el valor de los ahorros. La participación del Estado ecuatoriano en el surgimiento, desarrollo y culminación de la crisis financiera fue sin duda determinante. La nueva normativa para la regulación bancaria y financiera dictada a inicios de los años noventa fue uno de los factores explicativos del origen; la entrega de recursos a las instituciones financieras, a través del Banco Central y a los depositantes a través de la AGD, permitieron que la crisis el sistema financiero se trasladara al ámbito monetario.El Ecuador inauguró el nuevo siglo con un nuevo régimen monetario y sintiendo también las repercusiones de la las crisis financiera.Palabras claves: crisis financiera, dolarización, banco central, macroeoconomíaAbstractThe crisis which compromised the Ecuadorian financial system in the late twentieth century is the strongest our country has faced, comparable in terms of its macroeconomic implications and economic reforms, with the one developed in the twenties of the last century; however, more devastating in terms of its social impact. The testimonies of people who lost their economic resources first during the bank holiday; and then, with the liquidation of several banks and financial institutions, demonstrate the magnitude of the crisis. The culmination of the financial crisis coincides with the change of the monetary regime in our country; change that also caused losses to citizens and businesses, since the high exchange rate caused a significant reduction in savings value.The participation of the Ecuadorian State in the emergence, development and culmination of the financial crisis was certainly crucial. The new rules for the banking and financial regulation enacted in the early nineties was one of the explanatory factors of the origin. The provision of resources to financial institutions by the Central Bank, and to depositors through the AGD (Deposit Guarantee Agency), enabled the crisis of the financial system to move to the monetary field.Ecuador inaugurated the new century with a new monetary system; but at the same time feeling the impact of the financial crisis. Keywords: Financial Crisis, Dollarization, Central Bank, Macro Economy.

scholarly journals Global Regulatory Changes to the Banking Industry after the Financial Crisis: Basel III

2015 ◽  
Vol 11 (2) ◽  
pp. 83-100
Author(s):  
Roberto Joaquín Santillán-Salgado
Keyword(s):  
Financial Crisis ◽  
Global Economy ◽  
Banking Industry ◽  
Basel Ii ◽  
Basel Iii ◽  
Regulatory Changes ◽  
Regulatory Frameworks ◽  
The World ◽  
The Future

Two global regulatory frameworks for the banking industry (the Basel I and Basel II Agreements) had already been developed and implemented when the Financial Crisis (2007-2009) hit the global economy, and a third version was under development. We center this study’s attention on the structure and functioning of the Basel III Agreement but, in order to set the background, we briefly discuss its previous versions (Basel I and Basel II). Finally, we present some comments on the meaningfulness and impact of the Basel Agreements worldwide, and offer our inferences on what will be the future of the world banking industry under Basel III.

European Policy Reactions to the Financial Crisis

2010 ◽  
pp. 191-218
Author(s):  
Carlo Panico ◽  
Francesco Purificato
Keyword(s):  
Monetary Policy ◽  
Economic Policy ◽  
Financial Crisis ◽  
Financial Institutions ◽  
Euro Area ◽  
Fiscal Policies ◽  
Productive Activity ◽  
European Policy ◽  
The Government ◽  
Recent Financial Crisis

The paper examines how economic policy have been carried out in Europe during the recent financial crisis. It focuses on the changes introduced in the operational procedures of monetary policy in the euro area in 2007 and 2008, pointing out that the objective of the authorities has been to respond to the liquidity needs of the monetary financial institutions, avoiding to loose control over M3. The paper argues that the interventions of the Eurosystem have produced satisfactory results and underlines the problems generated by the fall in productive activity and the need to face them with fiscal policies instruments. The inefficient forms of coordination between monetary and fiscal policies and the management of the government debt in some euro area countries are seen as the main sources of preoccupation for the evolution of the crisis.

Liquidity Risk Measurement, Standards, and Monitoring

2017 ◽  
pp. 205-226
Keyword(s):  
Financial Crisis ◽  
Financial Crises ◽  
Liquidity Risk ◽  
Risk Measurement ◽  
Capital Adequacy ◽  
Basel Iii ◽  
Measurement Standards ◽  
Recent Financial Crisis

Liquidity ratios – as well as Basel III leverage ratios were not only consequence of the recent global financial crises – having been introduced under Basel III in 2010, but serve as complements, rather than substitutes, to a risk based capital adequacy framework whose deficiencies were brought to light during the recent financial crisis. This chapter considers and highlights the need for such vital complements – as well as challenges which may still necessitate further revisions to such ratios.

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