Book chapter
Интернационализация банковского регулирования: системность реформы и системные риски
С. 7-15.
In book
Edited by: Г. Подвойский Т. 1: Материалы панельных дискуссий. М.: Финансовый университет при Правительстве РФ, 2015.
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Penikas H. I., Selmier II W. T. Economics/EC. WP BRP. Высшая школа экономики, 2013. No. 15.
This essay aims at highlighting the linkage between current international banking regulation (namely, that produced by the Basel Committee on Banking Supervision) and economic activity, which is proxied by the S&P500 stock market index. It is revealed that the amount of regulatory documents published per year affects stock market performance, but only for the next two years. Discussion on the probable reasons for this is included.
Added: Aug 17, 2013
Сучкова Е. О., Соловьёва Я. А. В кн.: Сборник статей по материалам IX научно-технической конференции студентов и преподавателей НИУ ВШЭ – Нижний Новгород «Современные проблемы в области экономики, менеджмента, бизнес-информатики, юриспруденции и социально-гуманитарных наук». Н. Новгород: Нижегородский филиал НИУ ВШЭ, 2011. С. 171-177.
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Кракович В. В. В кн.: Глобализация национальных экономик европейских стран : сборник научных трудов студентов факультета финансово-кредитных и международных экономических отношений по итогам международных стажировок. СПб.: Издательство СПбГУЭФ, 2012. С. 69-78.
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Aleskerov F. T., Keskinbaev A., Penikas H. I. Financial Economics. FE. Высшая школа экономики, 2012. No. 04.
The Basel Committee introduced countercyclical capital buffers in order to mitigate the effects of bank capital procyclicality, which is to say the decrease in the capital adequacy of banks in economic downturns. The ratio of loans to GDP was taken as the proxy for the economic cycle signaling variable.
Nevertheless, Repullo and Saurina (2011) have proven that the credit-to-GDP ratio is not as accurate at predicting the stage of economic cycle as the GDP growth rate. They proposed a theoretical framework for capital buffer calculations based on GDP growth rate dynamics.
We extend the countercyclical capital buffer analysis in two directions. First, empirical criteria to implement Repullo and Saurina’s model are proposed and justified. Second, the countercyclical capital buffer parameter, is then differentiated according to clusters of countries that display homogeneous patterns of macroeconomic variables dynamics. Lastly, the countercyclical capital buffers based on the Basel Committee’s approach and on the Repullo and Saurina model are then compared.
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М.: МГИМО-Университет, 2017.
Added: Nov 14, 2017
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.
Added: Sep 14, 2013
Edited by: H. G. Bamberger, K. Knops, P. Derleder. Vol. 1, 2. Berlin; Heidelberg: Springer, 2017.
Added: Dec 7, 2015
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