Интернационализация банковского регулирования: системность реформы и системные риски
According to recent empirical studies, the new regulatory proposals concerning capital and liquidity standards as well as monitoring of global systemically important financial institutions may lead in a decline of the annual growth rates of GDP due to increase in lending rates and reduction of lending activities of commercial banks. At the same time, some studies show that the new measures may stimulate stability of financial system and help to reduce the probability of banking crises. This paper reviews the results of empirical studies on potential influence of new Basel III standards on functioning of the banking system, economic growth and financial stability.
The monograph deals with the issues of macroprudential policy that is organically linked to the system of international banking regulation. The author looks into interrelationship between macro- and micro-prudential regulatory mechanisms, explores the role of macroprudential regulation in minimization of systemic risks, as well as the extent to which the effectiveness of macroprudential tools and techniques will help ensure stress resilience of the banking sector. The author also delves into the most disputable topics on the tradeoff between macroprudential regulation and monetary policy. Without doubt the monograph is a landmark book that expands the most complex topic of macroprudential policy in the post-crisis recovery, as well as the specifics of macroprudential regulation in the post-crisis banking regulation paradigm shift.