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Реформа банковского регулирования в Китае: особенности регулятивного континуума и системные риски
Деньги и кредит. 2014. № 12. С. 51-62.
The article is a pilot attempt of comprehensive research of China’s banking regulation and supervision reform in the post-crisis
era. It is found that risks associated with the «too big to fail» banks still cannot be contained that to a certain extent is offset by a wider
array of regulatory aspects, their miniaturization, and more stringent supervisory standards compared with Basel III. On the other side, non-regulated segments of the financial sector pose higher risks. More broadly, regulatory reform in China comes close with fundamental principles of international reform of banking regulation. Based on research findings relevant recommendations are developed for the Russian banking sector.
Keywords: Базель IIIBasel IIIbanking regulationбанковское регулированиеRussian banking industrysystemic risksсистемные рискиshadow bankingсистемообразующий банкChina's banking regulation reform"too big to fail" bankреформа регулирования в Китаетеневая (параллельная) банковская деятельностьроссийская банковская сфера
Dzhagityan E. P., Деньги и кредит 2016 № 7 С. 47-58
International banking regulators are yet to find the instruments of unbiased measurement of systemic risks. In these circumstances, stress resilience and soundness of systemically important financial institutions mainly depend on understanding of
the limits and the extent of their interconnectedness with macro-level dynamics, while their «de-riskization» remains a decisive
contributor to soundness of the post-crisis conceptual framework ...
Added: January 1, 2017
Dzhagityan E. P., Мировая экономика и международные отношения 2015 Т. 59 № 11 С. 78-90
The article deals with the evolution of the Financial Stability Board (FSB) into a full-scale and sound authority of international banking regulation. Founded in 1999 as the Financial Stability Forum, the FSB has become an international body in 2009 overseeing the international fi nancial regulation reform, also known as Basel III. Nonetheless, FSB’s responsibilities and competence are still ...
Added: January 1, 2017
Dzhagityan E. P., Банковское дело 2015 № 8 С. 26-31
The article deals with the perspectives and scenarios of regionalization and supranationalization of banking regulation in the
Eurasian Economic Union (EEU) based on the EU regulatory practice. We suggest a roadmap of regulatory regionalization amid
sweeping overhaul of banking regulation (Basel III). We also discuss the core milestones of the single regulatory environment in the
EEU as well ...
Added: January 1, 2017
Dzhagityan E. P., Вестник международных организаций: образование, наука, новая экономика 2019 Т. 14 № 2 С. 245-274
The institutional aspect of post-crisis banking regulation reform (Basel III) remains unsettled, and as such undermines regulators’ efforts to shape a seamless platform for international financial intermediation. The lack of global acceptance of the Basel III standards amid the internationalization of banking activities is one of the main reasons for regulatory asymmetries which are difficult ...
Added: August 28, 2018
Dzhagityan E. P., Мировая экономика и международные отношения 2013 № 12 С. 74-83
The article is a pilot holistic study in Russian academia of foreign-funded banks operating or targeting Central Asian region and looks into the effect of exogenous and endogenous risks on banking performance and on regional banking sector at large. It is found that internationalization of banking regulation and supervision positively affects foreign-funded banks regardless of ...
Added: January 2, 2017
Usoskin V. M., Belousova V., Клинцова М. В., Деньги и кредит 2013 № 9 С. 32-38
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 ...
Added: September 14, 2013
Dzhagityan E. P., Podrugina A., Стрельцова С. Б., Вестник Московского университета. Серия 6: Экономика 2020 № 1 С. 21-40
The article looks into the reasons underlying the outspread of the full-scale mechanism of banking regulation over U.S. investment banks. We analyze the effect of the Basel III standards on stress-resilience of investment banks and examine the role of U.S. investment banks in ensuring financial stability. Based on regression analysis we found that minimum capital ...
Added: September 30, 2018
Khasyanova S. Y., Деньги и кредит 2016 № 2 С. 33-38
Starting from 2014 Russian commercial banks shifted to the estimation of a bank capital amount and its adequacy in accordance with the international capital standards of Basel III. Before the introduction of the new capital standards in RF banking practice, numerous experts pointed out the arising problem associated with the replacement of the capital sources ...
Added: February 26, 2016
Dzhagityan E. P., Мировая экономика и международные отношения 2017 Т. 61 № 11 С. 13-23
The author looks into the optimal model of international banking regulation using principles and mechanism of macroprudential policy. Severity of the recent global financial crisis uncovered a series of deficiencies in traditional (microprudential) regulation and triggered a broader and advanced understanding of the regulatory framework while putting on the agenda priorities of interrelationships between micro- ...
Added: June 20, 2017
Dzhagityan E. P., М. : Юрайт, 2019
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 ...
Added: August 28, 2018
Dzhagityan E. P., Вопросы экономики 2016 № 2 С. 77-93
The article looks into the spillover effect of the sweeping overhaul of financial regulation, also known as Basel III, for credit institutions. We found that new standards of capital adequacy will inevitably put downward pressure on ROE that in turn will further diminish post-crisis recovery of the banking industry. Under these circumstances, resilience of systemically important banks could ...
Added: January 1, 2017
Dzhagityan E. P., Mukhametov O., Финансы: теория и практика 2023 Т. 27 № 6 С. 79-88
In response to the Global Financial Crisis of 2008–2009, international financial regulators tightened the regime of banking supervision in order to minimize systemic risks, strengthen banking sector resilience and ensure financial stability. Given the increased level of credit risks and the issue of liquidity in the banking sector, as well as the role of banks ...
Added: November 11, 2022
Dzhagityan E. P., Орехов М. И., Вестник международных организаций: образование, наука, новая экономика 2022 Т. 17 № 3 С. 48-74
The Global Financial Crisis of 2007–2009 followed by sweeping overhaul of international banking regulation urged financial regulators to apply a tailored supervisory regime to global systemically important banks (G-SIBs). This approach was caused by exacerbation of G-SIBs’ systemic risks and their transmission during macro-level instability. The size of G-SIBs, the extent of their market power, ...
Added: June 29, 2022
Dzhagityan E. P., Сильвестров С. Н., Деньги и кредит 2013 № 8 С. 53-61
The article attempts a holistic study of the U.S. banking regulation reform spotlighting its paradigm shift from short-term benefits
to enduring prioritization of firm-specific and systemic risks. It is found that a package of prudential tools and techniques developed to
protect U.S. banks from environmental challenges is not a panacea for instability of the U.S. economy. Synchronization ...
Added: January 2, 2017
Dzhagityan E. P., Сильвестров С. Н., Деньги и кредит 2013 № 9 С. 70-77
The article attempts a holistic study of the U.S. banking regulation reform spotlighting its paradigm shift from short-term benefits
to enduring prioritization of firm-specific and systemic risks. It is found that a package of prudential tools and techniques developed to
protect U.S. banks from environmental challenges is not a panacea for instability of the U.S. economy. Synchronization ...
Added: January 2, 2017
Dzhagityan E. P., Деньги и кредит 2017 № 7 С. 31-40
The processes of Eurasian regional consolidation imply mainstreaming of the EAEU member state banks in the integration processes. However, strengthening their integration potential as a factor of financial stability will largely depend on the consistency and soundness of the regional model of banking regulation in the ‘mini-Basel III’ framework. Heterogeneity of national regulatory regimes, protectionism-centered ...
Added: June 20, 2017
Dzhagityan E. P., В кн. : Мировая экономика и мировые финансы: глобальные проблемы и перспективы. Коллективная монография по материалам II Международной научно-практической конференции, посвященной 70-летию факультета международных экономических отношений (Москва, 8 ноября 2016 г.). : М. : Русайнс, 2017. Гл. 1. С. 74-80.
Приводятся особенности процесса создания регионального механизма банковского регулирования в ЕАЭС как движущей силы общеэкономической интеграции. Показано, что эффективность евразийского регулирования банковского сектора будет зависеть от постепенного отхода от разнорежимности регулирования, достижения регулятивного консенсуса на основе сближения пруденциальных стандартов и формирования наднациональных институтов регулирования. Позиция автора подкрепляется аргументами о неизбежности использования Базельских принципов эффективного банковского надзора ...
Added: May 26, 2017
Aleskerov F. T., Keskinbaev A., Penikas H. I., / Высшая школа экономики. Series FE "Financial Economics". 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 ...
Added: July 9, 2012
Dzhagityan E. P., International Organisations Research Journal 2019 Vol. 14 No. 2 P. 212-237
The institutional aspect of post-crisis banking regulation reform (Basel III) remains unsettled, and as such undermines regulators’ efforts to shape a seamless platform for international financial intermediation. The lack of global acceptance of the Basel III standards amid the internationalization of banking activities is one of the main reasons for regulatory asymmetries which are difficult ...
Added: May 11, 2019
Khasyanova S. Y., Проблемы управления 2017 № 4 С. 37-44
This research is devoted to the investigation of the changes in the nature of the largest Russian banks policies regarding the control of risks and capital adequacy caused by the implementation of the new international business standards. The dynamic analysis of indicators used by banks internally for the capital adequacy assessment was performed within this ...
Added: November 27, 2017
Tevanyan E., Penikas H. I., Банковское дело 2015 № 7 С. 72-81
Bank of Russia instruction No. 154-I requests to develop remuneration system for bank employees that take and control risks, particularly paying attention to defining variable and deferred parts of remuneration. This paper addresses the first issue to define veariable part of remuneration. Paper offers optimal incentive contract for agents that differ by risk-perception considering the ...
Added: July 5, 2015
Penikas H. I., Skarednova A., Surkov M., / Central Bank of the Russian Federation. Series Доклады об экономических исследованиях "WORKING PAPER SERIES". 2021. No. 74.
The recently finalized Basel Framework continues allowing banks to use internal data and models to define risk estimates and use them for the capital adequacy ratio computation. World-wide there are above two thousand banks running the Basel internal models. However, there are countries that have none of such banks. For them there exists a dilemma. ...
Added: July 17, 2021
Dzhagityan E. P., В кн. : Международные экономические отношения: плюрализм мнений в эпоху перемен. : М. : МГИМО-Университет, 2017. Гл. 4. С. 160-168.
The article delves into risks of differences in the banking regulation regimes of the EAEU member states and substantiates their alignment that would aim at entrenchment of the objectives of Eurasian economic integration, on the one hand, and ensuring financial stability, on the other hand. In this case, efforts to smoothening regionalization of banking regulation ...
Added: November 14, 2017