1,898 research outputs found
Rebalancing the three pillars of Basel II
No full textThe author observes that the three pillars of Basel II seem uneven: Pillars 1 and 2 have eclipsed Pillar 3 - market discipline and disclosure - in the Basle Committee's deliberations. He works through a banking model of the three Pillars, shows how the optimal liquidation limit varies with bank liability structure and the regulatory regime, and argues that market discipline, via mandatory subordinated debt issuance, can reduce forbearance by supervisors.Bank supervision ; Bank capital ; Banking law
Cost implications of compliance with Basel III and competitiveness of internationally active banks
No full textThis dissertation investigates the third Basel Accord designed to provide a global regulatory standard on bank capital adequacy, stress testing and agreed market liquidity risk. Amongst other requirements, Basel III expects banks to hold top quality capital totalling 9.5% of their risk bearing assets by January 2019. Any bank that fails to meet the new requirements is expected to be banned from paying dividends to shareholders until it has improved its balance sheet. Full compliance with Basel III is expected to kick in by 2019. The author suggests that this new regulatory frame is arguably the most topical issue today amongst internationally active banks as they plan to be compliant, with the market already applying a multiple discount to banks with weaker capital positions especially the systemically important banks
Dr. Della Dumbaugh and Basel Arafat - Faculty-Student Author Interview
No full textDr. Della Dumbaugh, Professor of Mathematics and Mathematics Coordinator at the University of Richmond, and Basel Arafat, a senior studying mathematics, computer science and cognitive science, discuss a recent co-authored article entitled, “The Genesis of Americanmathematics.org: A Global Classroom Experience” in the August/September 2019 issue of MAA (Mathematical Association of America) Focus. The article describes the development of American mathematics.org, a website dedicated to American mathematics
BASEL II: THE REVISED FRAMEWORK OF JUNE 2004
No full textA major aim of Basel II has been to revise the rules of the 1988 Basel Capital Accord in such a way as to align banks´ regulatory capital more closely with their risks, taking account of progress in the measurement and management of risk and of the opportunities which these provide for strengthened supervision. Achievement of this aim has involved the incorporation in Basel II of methods for quantifying banking risks introduced since the late 1980s. The task of the designers of Basel II has been complicated by the way in which the BCBS´s rules for banks´ capital, originally intended for the internationally active banks of its member countries, have become a global standard widely applied in developing as well as developed countries. Acceptance of this role by the BCBS has entailed a global consultation process, whose results have been reflected in three consultative papers and the RF, and the different approaches and options for setting numerical capital requirements which are intended to accommodate banks and supervisors of different levels of sophistication. As well as providing a commentary on the main features of the RF this paper documents the response of the BCBS to some of the more important points which were raised during this consultation process, including the outcome of decisions taken at a meeting in Madrid in October 2003 following comments on the consultative paper of April 2003, and summarises the results of the most recent of the BCBS´s initiatives to estimate the quantitative impact of the Basel II rules on banks´ capital. This discussion includes a review of papers issued by the BCBS as part of the last stage of its work preceding the RF.
Grasping at straws: a ratings downgrade for the emerging international financial architecture
No full textFollowing the Asia crisis of 1997-98, policymakers invested a great deal of energy in designing a new international financial architecture. However many of the policy proposals which have emerged from think tanks and the multilateral agencies have proven unworkable or politically unpalatable. The debate focuses on state-led initiatives. But the assumption that public policy is by definition an output of public institutions is difficult to sustain in an era of global change. This paper considers specialized forms of intelligence-gathering and judgment-determination which seem increasingly important as sources of governance in this era of financial market volatility. These agents - embedded knowledge networks (EKNs) - include the major bond rating agencies, Moody’s Investors Service and Standard and Poor’s, the focus of this paper. The Basel Committee has put forward a serious proposal to reform the existing capital adequacy framework which uses banks' own internal ratings and external bond ratings to calculate bank risk-weighted capital requirements. The paper shows that there are potentially unexpected consequences from using private rating agencies as a substitute for state-based regulation, due to the organizational incentives that shape the ratings industry. Cementing these organizational incentives into the emerging financial architecture will give rise to negative social and economic consequences
Verlauf des Rheines von Basel bis Mainz: Übersichtsdarstellung mit Hochwasserschutzsystemen
No full textMaps of the Rhine section between Basel and Mainz including the flood defence system
Basel 3.0 ve sonrası: kredi risk yönetiminde Basel kriterlerinin etkinliği
No full textYaslıdağ, Beyhan (Arel Author) Yazıcı, Mehmet (Arel Author) -- Conference: Avrasya Sosyal Bilimler Forumu Dünya Ekonomisinin Gelişim Paradigması: Piyasa ve Ötesi, 18-21 Ekim 2012, Azerbaycan/Bakü.Son yıllarda finansal derinliği fazla ve kredi risk yönetiminde etkin olduğu düşünülen ülkelerde bile bireysel kredilerden ve özellikle de ipotekli konut finansmanından kaynaklanan risklerde artış görülmektedir.Bu risklerin iyi yönetilememesi sonucunda oluşan risklerin, tüm finansal piyasalarda domino etkisi yaratan krizin ortaya çıkışında büyük paya sahip olduğu bilinmektedir. Bu durum,öngörülebilir risklerin tespit edilmesinin ve bu risklerin gerçekleşmesi durumunda oluşacak zararların giderilmesini sağlayacak önlemlerin alınmasının önemini arttırmıştır. Bu süreçte Basel kriterleri, kamu otoritesi ve bankaların düzenleme ve denetimleri, uygulanan analiz, derecelendirme, skorlama yöntemleri ve alınan teminatlara karşın, kredi süreç ve likidasyonunda yaşanan sorunlar, hem finans hem de reel sektörü zor durumda bırakmakta, bu konuda yapılmış olan düzenlemelerin ve başta Basel kriterlerinin yetersizliğini gündeme getirmektedir.Risk yönetiminde etkinliği artırmak amacı ile uygulanmakta olan ikinci nesil Basel kriterleri ve düzenlenmekte olan üçüncü nesil Basel kriterlerinintemelde finansal krizin hissettirdiği eksiklik ve bu süreçte yaşanan sıkıntılara tepki olarak ortaya konulduğu ancak, etkin bir düzenleme ve denetim sağlayamadığı görülmektedir. Bu çalışmada, bankacılıkta kredi risk yönetiminde etkinliğin artırılması amacı ile yapılması gerekenler incelenmiştir.Çalışmanın ilk bölümünde; bankacılık sektöründe kredi hacmi ve sorunlu kredilerin gelişimi, ikinci bölümde; kredi risk yönetiminde kullanılan yöntemler ve üçüncü bölümde uluslararası bankacılık düzenlemelerinin geldiği nokta ve sistemin eksiklikleri ele alınmıştır. Aynı zamanda bankacılıkta etkin bir kredi risk yönetimi için çözüm önerileri de ortaya konulmuştur
Why do countries implement Basel II? An analysis of the global diffusion of Basel II implementation
No full textLike its predecessor, Basel II has profoundly shaped bank capital adequacy regimes across the world. However, there has been little systematic research on the state of Basel II implementation across developed and developing countries, and the factors that promote or hinder the implementation of these voluntary standards are particularly under-researched. By drawing on a new global dataset of Basel II implementation across 150 countries compiled by the author, this thesis evaluates the state of Basel II implementation at the global level and investigates why countries implement Basel II. Three novel channels of policy diffusion formed across supervisory authorities, global banks and financial sectors were specifically constructed to study the diffusion of Basel II policies using a mixed-method research design. A quantitative study tests the effects of policy diffusion on Basel II implementation across four distinct channels of diffusion formed by inter-supervisory authority networks, the cross-border structure of international banks, competition between financial sectors and the nexus of international economic exchange. This is complemented by in-depth case studies that unpack the causal process through which policy diffusion shaped the national implementation of Basel II in Chile, Hong Kong, Korea and Malaysia. I find that the state of Basel II implementation at the global level is highly uneven and clustered, and show that Basel II policy decisions in countries are highly interdependent on the policy decisions of other countries with which those countries are closely interconnected. Policy diffusion not only promotes the degree of convergence with Basel II, but also reinforces partial, gradual and delayed implementation. The diffusion of implementation policies can thus be a curse and a blessing for the future of Basel II and the broader global financial regulatory architecture due to its double-edged power to promote as well as hinder the degree of regulatory convergence with international financial standards
Why do countries implement Basel II? An analysis of the global diffusion of Basel II implementation
No full textLike its predecessor, Basel II has profoundly shaped bank capital adequacy regimes across the world. However, there has been little systematic research on the state of Basel II implementation across developed and developing countries, and the factors that promote or hinder the implementation of these voluntary standards are particularly under-researched. By drawing on a new global dataset of Basel II implementation across 150 countries compiled by the author, this thesis evaluates the state of Basel II implementation at the global level and investigates why countries implement Basel II. Three novel channels of policy diffusion formed across supervisory authorities, global banks and financial sectors were specifically constructed to study the diffusion of Basel II policies using a mixed-method research design. A quantitative study tests the effects of policy diffusion on Basel II implementation across four distinct channels of diffusion formed by inter-supervisory authority networks, the cross-border structure of international banks, competition between financial sectors and the nexus of international economic exchange. This is complemented by in-depth case studies that unpack the causal process through which policy diffusion shaped the national implementation of Basel II in Chile, Hong Kong, Korea and Malaysia. I find that the state of Basel II implementation at the global level is highly uneven and clustered, and show that Basel II policy decisions in countries are highly interdependent on the policy decisions of other countries with which those countries are closely interconnected. Policy diffusion not only promotes the degree of convergence with Basel II, but also reinforces partial, gradual and delayed implementation. The diffusion of implementation policies can thus be a curse and a blessing for the future of Basel II and the broader global financial regulatory architecture due to its double-edged power to promote as well as hinder the degree of regulatory convergence with international financial standards
Lithuanian art gallery in "Art Basel" fair?
No full textReikšminiai žodžiai: Art Basel mugė; Kolekcionavimas; Lietuvos meno galerija; Mecenatystė; Tarptautinė meno mugė; Tarptautinė meno mugė Art Vilnius; Tarrptautinė meno rinka; Vilnius; Šiuolaikinis menas; Art Basel fair; Collecting; International Art Fair; International art fair Art Vilnius; International art market; Lithuanian Art Gallery; Maastricht; Modern art; Patronage; VilniusThe sixth international art fair Art Vilnius was held in June and the best Lithuanian gallery was awarded. What criteria such gallery should meet? And what happens to artists who are nominated to the category of the best? Do they have any chance to succeed in an international art market? Who of them could expect to be shown in Art Basel, Maastricht art fair, Art Basel Miami Beach? Why even the idea of this kind remains a utopia though Lithuanian commercial galleries exist a quarter of a century, asks the author
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