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19 October 2011

IMF: Making banks safer - can Volcker and Vickers do it?


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IMFは、システム上重要な金融機関の業務の範囲を再定義する提案について評価した研究報告書を発行した。


Alongside reform of prudential regulation and oversight, these have been offered as solutions to the too-important-to-fail problem. It is argued that while the more radical of these proposals, such as narrow utility banking, do not adequately address key policy objectives, two concrete policy measures - the Volcker Rule in the United States and retail ring-fencing in the United Kingdom - are more promising, while still entailing significant implementation challenges.

A risk factor common to all the measures is the potential for activities identified as too risky for retail banks to migrate to the unregulated parts of the financial system. Since this could lead to accumulation of systemic risk if left unchecked, it appears unlikely that any structural engineering will lessen the policing burden on prudential authorities and on the banks.

Full working paper



© International Monetary Fund


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