Maintaining Adequate Bank Capital
2014; Wiley; Volume: 46; Issue: s1 Linguagem: Indonésio
10.1111/jmcb.12085
ISSN1538-4616
Autores Tópico(s)Global Financial Crisis and Policies
ResumoJournal of Money, Credit and BankingVolume 46, Issue s1 p. 157-180 ARTICLE Maintaining Adequate Bank Capital MARK J. FLANNERY, MARK J. FLANNERYSearch for more papers by this author MARK J. FLANNERY, MARK J. FLANNERYSearch for more papers by this author First published: 27 January 2014 https://doi.org/10.1111/jmcb.12085Citations: 56 Prepared for the Conference on Post-Crisis Banking, De Nederlandsche Bank, June 28–29, 2012. I would like to thank the following individuals for helpful discussions about bank capital and capital regulation: Viral Acharya, Darrell Duffie, Walter Engert, Wilson Ervin, Ken Garbade, Paul Glasserman, Bev Hirtle, Jamie McAndrews, Hamid Mehran, George Pennacchi, Enrico Perotti, Matt Richardson, Marc Saidenberg, Til Scheurmann, Jeremy Stein, Kevin Stiroh, James Vickery, and Zhenyu Wang. Their insights and information have greatly contributed to this paper. Ben Mandel and especially Maxim Dolinsky provided excellent research assistance. Remaining errors, and all opinions, are my own. Financial support from the Europlace Institute of Finance is gratefully acknowledged. Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onEmailFacebookTwitterLinkedInRedditWechat LITERATURE CITED Admati, Anat, Peter DeMarzo, Martin Hellwig, and Paul Pfleiderer. (2011) "Fallacies, Irrelevant Facts, and Myths in the Discussion of Capital Regulation: Why Bank Equity Is Not Expensive." Stanford University Working Paper (March 23). Basel Committee on Banking Supervision. (2006) " Basel II: International Convergence of Capital Measurement and Capital Standards: A Revised Framework—Comprehensive Version (June)." Brunnermeier, Markus K., and Lasse H. Pedersen. (2009) "Market Liquidity and Funding Liquidity." Review of Financial Studies, 22, 2201–38. Calello, Paul, and Wilson Ervin. (2010) "Economics Focus: From Bail-Out to Bail-In." Economist, January 28. Chen, Nan, Paul Glasserman, and Behzad Nouri. (2012) "CoCos, Bail-in and Tail Risk." Working Paper, Columbia University. Crosbie, Peter, and Jeff Bonn. (2003) "Modeling Default Risk." Moody's/KMV Working Paper. da Costa, Pedro. (2013) " Bernanke on Sen. Warren and Too Big to Fail Banks: 'I Agree with Her 100 Percent.'" Reuters MacroScope, March 22. Available at: http://blogs.reuters.com/macroscope/2013/03/22/bernanke-on-sen-warren-and-too-big-to-fail-banks-i-agree-with-her-100-percent/. (Accessed November 18, 2013). Diamond, Douglas, and Philip Dybvig. (1983) "Deposit Insurance and Liquidity." Journal of Political Economy, 91, 401–19. Duffie, Darrell. (2009) " A Contractual Approach to Restructuring Financial Institutions." In Ending Government Bailouts as We Know Them, edited by Kenneth Scott, George P. Schultz, and John B. Taylor, pp. 109–24. Stanford, CA: Hoover Press. Flannery, Mark J. (2009) " Stabilizing Large Financial Institutions with Contingent Capital Certificates." http://ssrn.com/abstract=1485689. Flannery, Mark J., and Kasturi P. Rangan. (2008) "What Caused the Bank Capital Build-Up of the 1990s?" Review of Finance, 12, 391–429. Flannery, Mark J., Simon H. Kwan, and Mahendrarajah Nimalendran. (2013) "The 2007–2009 Financial Crisis and Bank Opaqueness." Journal of Financial Intermediation, 22, 55–84. Glasserman, Paul, and Behzad Nouri. (2012) " Market-Triggered Changes in Capital Structure: Equilibrium Price Dynamics." Working Paper, Columbia University. Goodhart, Charles. (1990) The Evolution of Central Banks. Cambridge, MA: The MIT Press. Gordy, Michael B., and Bradley Howells. (2006) "Procyclicality in Basel II: Can We Treat the Disease without Killing the Patient?" Journal of Financial Intermediation, 15, 395–417. Greenspan, Alan. (2008) "The Fed Is Blameless on the Property Bubble." Financial Times, April 7. Gruenberg, Martin. (2012) " Remarks" to the Federal Reserve Bank of Chicago Bank Structure Conference; Chicago, IL (May 10). Haldane, Andrew G. (2011) " Control Rights (and Wrongs)." Wincott Annual Memorial Lecture, October 24, Westminster, London. Herring, Richard J. (2010) "How Financial Oversight Failed & What It May Portend for the Future of Regulation." Atlantic Economic Journal, 38, 265–82. Himmelberg, Charles, and Sergey Tsyplakov. (2012) " Pricing Contingent Capital Bonds: Incentives Matter." Mimeo. Hovakimian, Armen, Edward J. Kane, and Luc Laeven. (2012) "Variation in Systemic Risk at US Banks during 1974–2010." Working Paper, Boston College. James, Christopher M. (1991) "The Losses Realized in Bank Failures." Journal of Finance, 46, 1223–42. Kuritzkes, Andrew, and Hal Scott. (2009) "Markets Are the Best Judge of Bank Capital." Financial Times, September 23. Kwast, Myron and Members of the Federal Reserve System Study Group on Subordinated Notes and Debentures (1999) " Using Subordinated Debt as an Instrument of Market Discipline," Study Group on Subordinated Notes and Debentures, Federal Reserve Board of Governors. Merton, Robert C. (1977) "An Analytic Derivation of the Cost of Deposit Insurance and Loan Guarantees." Journal of Banking and Finance, 1, 3–11. Miles, David, Jing Yang, and Gilberto Marcheggiano. (2011) "Optimal Bank Capital." External MPC Unit Discussion Paper No. 31. (Revised and expanded version, April). Pennacchi, George G. (1987) "A Reexamination of the Over-(or Under) Pricing of Deposit Insurance." Journal of Money, Credit and Banking, 19, 340–60. Pennacchi, George G., Theo Vermaelen, Christian C. P. Wolff. (2013) "Contingent Capital: The Case for COERCs." INSEAD Working Paper. Pyle, David H. (1986) "Capital Regulation and Deposit Insurance." Journal of Banking and Finance, 10, 189–20l. Ronn, Ehud I., and Avinash Verma. (1986) "Pricing-Risk-Adjusted Deposit Insurance: An Option-Based Model." Journal of Finance, 41, 871–95. Sundaresan, Suresh, and Zhenyu Wang. (Forthcoming) "On the Design of Contingent Capital with Market Trigger." Journal of Finance. Citing Literature Volume46, Issues1February 2014Pages 157-180 ReferencesRelatedInformation
Referência(s)