Suchergebnisse

The purpose of this thesis is to study the effect of the Basel III Accord on commercial banks' capital and portfolio risk over the period 2006-2014. European and American commercial banks are compared to analyze potential differences in capital and risk behavior. Building on previous research, we use a modified version of the simultaneous equations model developed by Shrieves and Dahl (1992). The empirical results, obtained through a regression analysis in three steps, show that financial institutions have globally increased their capital adequacy ratio. Undercapitalized European and American banks boosted their capital and dropped their credit risk over the reference period. Moreover, the regression results suggest that Basel III is an effective regulation. Banks under regulatory pressure were induced to increase equity and decrease risk more than financial institutions with adequate capital buffers. Finally, by the inclusion of a year dummy variable in the model, we show that the announcement of the implementation of a capital regulation has an impact on the capital and risk decisions of capital-constrained organizations. ; Master [120] en Ingénieur de gestion, Université catholique de Louvain, 2016

The purpose of this thesis is to study the effect of the Basel III Accord on commercial banks' capital and portfolio risk over the period 2006-2014. European and American commercial banks are compared to analyze potential differences in capital and risk behavior. Building on previous research, we use a modified version of the simultaneous equations model developed by Shrieves and Dahl (1992). The empirical results, obtained through a regression analysis in three steps, show that financial institutions have globally increased their capital adequacy ratio. Undercapitalized European and American banks boosted their capital and dropped their credit risk over the reference period. Moreover, the regression results suggest that Basel III is an effective regulation. Banks under regulatory pressure were induced to increase equity and decrease risk more than financial institutions with adequate capital buffers. Finally, by the inclusion of a year dummy variable in the model, we show that the announcement of the implementation of a capital regulation has an impact on the capital and risk decisions of capital-constrained organizations. ; Master [120] en Ingénieur de gestion, Université catholique de Louvain, 2016

Little attention has been given to examples of innovative structural designs in the private labour regulation of garment global production networks (GPNs). This article addresses this gap by examining the Accord on Fire and Building Safety in Bangladesh, analysing its contested structural features, namely: (1) a legally binding basis, (2) a labour‐balanced executive board, (3) corporate critical mass and (4) transparency of functions. The authors' findings contribute to the understanding of emerging hybrid governance mechanisms, combining multi‐organizational cooperative action with traditional capital‐labour dynamics to influence labour regulation in GPNs in new and contradictory ways.

Rad smjera pokazati značaj i relevantnost poststrukturalnog pogleda na ekonomiju kako trasiranjem sada već općih konceptualnih mjesta tog pristupa tako i prakticiranjem te teorijske pozicije u konkretnoj analizi zaduženosti financijskog sustava. Kratkotrajna i lokalizirana, ali značajna tradicija poststrukturalnog problematiziranja kategorije ekonomije ovdje se prezentira preko tri ključne discipline – governmentality studies, ekonomske sociologije i međunarodne političke ekonomije. Nakon opisa dometa i ograničenja tih disciplina ulazimo u drugi dio rada gdje analiziramo aparaturu standardifikacije i validacije kreditnog rizika kod banaka, točnije Basel kapitalne uvjete i prakse sekuritizacije. Pružanjem genealogije tih tehnika interpretiramo domenu financija kao diskurzivni prostor (re)artikuliran preko skupa normaliziranih mehanizama i praksi koji zajednički tvore racionalnost vladanja. Na taj način ukazujemo na važnost performativnih, simboličkih, relacijskih, decentriranih i kontingentnih momenata u kritičkom poimanju (financijske) ekonomije, odnosno pokazujemo da kritika ekonomije ne mora nužno biti organizirana i provedena kroz matricu kapital – klasa – ideologija. ; This paper aims to demonstrate the significance and relevance of the poststructural gaze towards the economy by both tracing the conceptual commonplaces of this approach as well as practicing this theoretical position in the concrete analysis of indebtedness of the financial system. A brief and localized, but nonetheless significant tradition of the poststructural problematizing of the category of economy is here presented through three key disciplines: governmentality studies, economic sociology and international political economy. After portraying the contributions and limitations of those disciplines, the second part of the paper analyzes the apparatus of standardification and validification of credit risk within banks, namely the Basel Capital Accord and practices of securitisation. By offering a genealogy of those techniques, we interpret finance as a discursive space (re)articulated through an aggregate of normalized mechanisms and practices which collectively form a rationality of governance. In this way, we point out the importance of performative, symbolic, relational, decentered and contingent moments in the critical conception of (financial) economy, as well as show that the critique of economy does not necessarily have to be organized and conducted through the capital – class – ideology matrix.

AbstractWhy do countries that did not participate in the establishment of international standards converge on them in the absence of external coercion? The market‐based perspective asserts that market forces enhance cross‐national convergence on international standards. This paper challenges the market‐based perspective, focusing on compliance with the 1988 Basel Capital Accord in South Korea and Taiwan. First, it argues that adoption of the Basel Capital Accord by these countries was mainly driven by their regulatory authorities' concern about the potential risk of foreign market closure to noncompliant banks. Second, it demonstrates that enforcement by the two countries' regulatory authorities was crucial in ensuring compliance. These findings suggest that national regulatory authorities are still key actors in voluntary convergence on international standards.

AbstractRecent developments in the international banking system, especially the 2007–9 crisis and subsequent wave of postcrisis regulation, have drawn increasing attention to the structural power of banks and banking systems. States need a functioning financial system to ensure the overall health of their economies, so states must shape policy to protect their financial firms. National financial systems may be dominated either by banks or by capital markets. In states where banks dominate provision of capital, states must shape policy to protect their banks because of their structural importance, independent of any lobbying or other direct action on the part of banks to exercise instrumental power. The entangling of structural and instrumental power means studying differences in structural power requires either careful case-study work or cross-national comparison of responses to a common shock. The implementation of the 2011 Basel III Accords provides just such an opportunity. This article offers a quantitative analysis of a new dataset of implementation of Basel III components in the Basel Committee on Banking Stability member states from 2011 to 2019 and demonstrates the structural power of banks in bank-based systems to accelerate implementation of favorable policies and slow implementation of unfavorable ones.

В 1988 году между центральными банками 12 стран было заключено соглашение «Международная конвергенция измерения капитала и стандартов капитала» (International convergence of capital measurement and capital standards) Basel Capital Accord, Базель I. Соглашение стало основой нормативного регулирования активных операций, учитывающего риски тех или иных вложений при размещении банками денежных средств. В статье исследуются основные положения Базеля I и его влияние на банковское регулирование в Европейском Союзе и России. ; In 1988 a new capital adequacy framework Basel Capital Accord, Basel I (International convergence of capital measurement and capital standards) was adopted by the central banks of 12 countries. For the bank risk-management this agreement became the basis of the construction of the normative base of the regulation of active operations, which considers the risks of various investments during the arrangement by the banks of cash resources. In the article the basic condition of Basel I and its influence on the bank regulation in the European Union and Russia are investigated.

A thesis submitted in partial fulfilment of the requirements of the University of Wolverhampton for the degree of Doctor of Philosophy ; In 1974 the Committee on Banking Regulations and Supervisory Practices was created and supported by the Bank for International Settlements. It was envisaged that a forum should be created so that regular interaction and co-operation could be achieved by member countries to improve financial stability and to enhance the quality of banking supervision. The aim of this research is to examine the risks and shortcomings posed by Basel III; specifically capital ratios, credit rating agencies and value-at-risk. These are based on the author's initial research that indicated these to be the most problematic. The research also aims to provide recommendations in order to improve Basel III. Additionally, the research includes Basel I and II to illustrate the developments, problems and milestones to create a wider appreciation of this area. The title of this research is tackled extensively in Chapters 4 and 5 where the risks and shortcomings are considered in the former and recommendations are put forward in the latter. This consists of changes that are taking place or have been suggested. It is argued that there is still much work to do, but there has been significant improvement(s). The main contribution to knowledge and understanding the field in the form of originality is found throughout the research in its treatment of the subject matter and can also be viewed substantially in Chapter 5. The recommendations can be summarised below. Capital Ratios 1. A longer implementation period for liquidity coverage ratio and high quality liquid assets. 2. A longer implementation period for high quality liquid assets in a European context. 3. High quality liquid assets need re-categorisation. 4. The creation of a dedicated liquidity risk management team. Credit Rating Agencies 1. International Organisation of Securities Commissions model and more enforceability through regulators and governments. 2. Tighter regulation through the Basel regulations. 3. The creation of a public credit rating agency. 4. Uniformity on whether agencies offer opinions or advice and more accountability through the Basel regulations. Value-at-Risk 1. Research and investment to improve credit value adjustment value-at-risk. 2. The use of all three conventional approaches - Analytical Variance/Covariance, Historical, and Monte Carlo. 3. Penalising those who manipulate value-at-risk to turn products/positions from high risk to low risk.