Central Banking at a Crossroads: Europe and Beyond
Charles Goodhart, Daniela Gabor, Jakob Vestergaard, Ismail Ertürk
Anthem Press, 01.12.2014 - 292 Seiten
This book reflects on the innovations that central banks have introduced since the 2008 collapse of Lehman Brothers to improve their modes of intervention, regulation and resolution of financial markets and financial institutions. Authors from both academia and policy circles explore these innovations through four approaches: ‘Bank Capital Regulation’ examines the Basel III agreement; ‘Bank Resolution’ focuses on effective regimes for regulating and resolving ailing banks; ‘Central Banking with Collateral-Based Finance’ develops thought on the challenges that market-based finance pose for the conduct of central banking; and ‘Where Next for Central Banking’ examines the trajectory of central banking and its new, central role in sustaining capitalism.
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Where Next for Central Banking?
Constraining Discretion in Bank Regulation
Fallacies and Irrelevant Facts in the Discussion on Capital Regulation
Business Models and the Basel System
Shallow Recapitalization Exercise
What Lessons for Europe?
Bank Resolution in New Zealand and Its Implications for Europe
Collateral and Monetary Policy
The ECB and the Political Economy of Collateral
What Compass for Uncharted Waters?
Is New Governance the Ideal Architecture
List of Contributors
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accessed August 14 approach assessment August 14 authorities bail-in bailout balance sheet bank capital Bank of England bank resolution bank-based bank’s banking system Basel Basel III BCBS billion Blundell-Wignall Borio business model capital ratios capital regulation capital rules central banks costs countries CRD4 creditors cross-border default deposit insurance depositors ECB’s economic effect European banks European Central Bank Eurozone example exposures Federal Reserve financial institutions financial markets Financial Stability financial system fiscal framework G-SIFI impact insolvency interest rate intervention lending leverage ratio liabilities liquidity loans LTRO macroprudential market funding measures monetary policy OECD Online Paper portfolio problem quantitative easing recapitalization exercise reduce regulatory repo markets resolution regime retail banking risk weights role securities shareholders sovereign bond sovereign debt standards strategies stress test systemic risk systemically important taxpayer Tier 1 capital total assets trillion unconventional Zealand