代写范文

留学资讯

写作技巧

论文代写专题

服务承诺

资金托管
原创保证
实力保障
24小时客服
使命必达

51Due提供Essay,Paper,Report,Assignment等学科作业的代写与辅导,同时涵盖Personal Statement,转学申请等留学文书代写。

51Due将让你达成学业目标
51Due将让你达成学业目标
51Due将让你达成学业目标
51Due将让你达成学业目标

私人订制你的未来职场 世界名企,高端行业岗位等 在新的起点上实现更高水平的发展

积累工作经验
多元化文化交流
专业实操技能
建立人际资源圈

The international banking regulatory system

2018-10-27 来源: 51due教员组 类别: Paper范文

下面为大家整理一篇优秀的paper代写范文- The international banking regulatory system,供大家参考学习,这篇论文讨论了国际银行业的监管体系。自从布雷顿森林体系解体后,金融创新业务层出不穷,金融机构国际化日趋深化,导致金融体系风险加大,产生了严重的银行危机。为营造新的银行业经营环境,控制银行业国际化下导致的新风险,制定统一国际银行监管原则,多国召开会议决定,建立一个监管国际银行活动的协调委员会,这就是巴塞尔委员会。巴塞尔资本协议的核心是最低资本要求,而进行资产证券化可通过“分母战略”使银行达到提高资本充足率的目的,促使资产证券化迅猛发展。

international banking,国际银行业监管体系,essay代写,paper代写,作业代写

The frequent financial crises since the 1980s have exposed many inconsistencies in the international financial system and its regulatory system. These incongruities are concentrated in two areas.

Banks have been fully internationalized, but most regulatory activities are still concentrated in the scope of national sovereignty, and the rights of the regulatory subject are limited within the territory of a country, while the business of the object of regulation has already crossed the national boundary, and the bank allocates resources and develops business on a global scale. The result of this asymmetric system is the low regulatory efficiency and blind area, which creates the conditions for the occurrence and international transmission of the subprime crisis.

The subject of supervision in various countries is the financial management authorities of each country. When formulating national financial supervision policies, it is necessary to take part in international supervision cooperation from the perspective of national interests. We can use the simple Nash equilibrium to analyze the participation enthusiasm of countries in the loose organization:

In collective rationality, no matter country A or country B, from the perspective of individual rationality, Nash equilibrium is, that is, if there is no clear timetable to urge the participating countries to implement relevant policies in international regulatory cooperation, the participating countries will adopt A wait-and-see attitude to delay the implementation or not fully implement relevant cooperative regulatory policies.

After the collapse of the bretton woods system, due to the lack of uniform international supervision system, the regulation policy is different, and the multinational Banks tend to choose relatively loosely regulated international and regional business, and the important position of the financial industry in main western countries economy make the government for the sake of their own interests to relax regulation in the past thirty years. Even after the regulatory cooperation agreement, some countries are still trying to delay the implementation of policies to seek additional benefits for their financial sector. The Basel new capital accord, which was enacted in 2004 and required group of 10 countries to implement it in 2006, was delayed in the United States, leading European Union Banks to express their strong dissatisfaction that the extra preparation time given to the United States is not conducive to fair competition and will undermine international cooperation in banking regulation. The impact of the us move on the eu has proved to be far more than worsening the competitive environment for the banking sector.

After the disintegration of bretton woods system in the 1970s, financial innovation business emerged endlessly, and financial institutions became increasingly internationalized, leading to increased risks in the financial system. A series of bank failures, including herstatt bank of Germany, led to a serious banking crisis. To build new banking business environment, under the control of the banking internationalization leads to new risks, formulate unified international banking supervision principle, in February 1975, Belgium, Canada, France, Germany, Britain, Japan, Italy, Luxembourg, the Netherlands, Switzerland, Sweden and the United States held a meeting in Basel, Switzerland, the meeting decided, establish a supervision of international banking activities coordination commission, this is the Basel committee. The first Basel accord was introduced in September 1975. The core content of this agreement is: aiming at the problem of the absence of regulatory bodies after the internationalization of the bank, this agreement stipulates that no foreign institution of any bank can evade regulation, and the home country and the host country should share the responsibility of supervision. In 1983, the Basel committee revised the agreement to further clarify the regulatory responsibility of home and host countries, but the agreement only proposed the regulatory principles and the distribution of responsibilities, but still failed to propose specific and feasible regulatory standards.

It was first proposed to use capital regulation for bank risk control in 1987. In 1988, the committee published the Basel capital accord, which had far-reaching effects and changed the world banking regulatory structure. The agreement has so far been adopted by more than 100 countries, and an 8 per cent core capital ratio has become a common standard for international Banks.

The core of Basel capital accord is the minimum capital requirement, while asset securitization can make Banks achieve the goal of improving capital adequacy ratio through the "denominator strategy", thus promoting the rapid development of asset securitization. To restrict Banks using asset securitization to capital arbitrage, "the new Basel capital accord" in June 2004, a new protocol for the old structure of the three pillars, the asset securitization risk for the first time into the first category, to advocate the irb in terms of risk measurement, to strengthen the information disclosure, make towards improvement of international banking regulation.

The new agreement puts forward the "asset securitization framework" for the first time. When determining the capital needed for the risk exposure of asset securitization, it must be based on the economic connotation rather than the legal form. This regulation ADAPTS to the development trend of various forms of asset securitization and gives regulators considerable flexibility. The new agreement has good operability in the international scope. If it can be widely used in the international scope, it will help to form a relatively fair environment for competition and development. In addition to measuring credit risk, improvements have been made in terms of operational risk, market discipline, supervision and inspection, and information disclosure.

The new agreement is more sensitive than the old one in terms of risk measurement and can restrain the regulatory capital arbitrage more effectively, which is conducive to guiding the sound operation of Banks. In terms of risk measurement, the new agreement proposes three methods: standard method, internal rating primary method and internal rating advanced method. Banks and regulators can choose on their own merits. The aim of the IRB method is to reflect the relationship between capital and bank risk more accurately. Bank by using this method, to estimate the borrower default probability, default loss rate and default risk exposure estimate is converted into corresponding risk-weighted assets, and according to the provisions of this part calculates the regulatory minimum capital, to strengthen the risk sensitivity, for regulatory capital arbitrage problems of the regulation of the old agreement has made the improvement.

It has high flexibility in risk measurement and introduces the concept of incentive compatible regulation. The new agreement also allows for the use of standard and internal rating methods to promote the construction and application of Banks' internal rating systems, and encourages qualified Banks to accelerate the implementation of internal rating laws. The adoption of "incentive-compatible supervision" in the assessment of asset securitization risk and regulatory capital requirements is conducive to accelerating the development of bank risk measurement technology.

The new agreement, which takes market discipline as one of the three pillars, plays the role of market mechanisms, stipulating that regulators must develop an effective information disclosure system, requiring Banks to release information in a timely and comprehensive manner, and enabling market traders to make timely judgments and respond.

From the perspective of the development process of Basel capital accord, it has been passively adapting to the development process of bank internationalization and financial innovation. The scope of international banking risk supervision has been expanding, and more and more attention has been paid to financial innovation tools. The supervision of financial derivatives will become the focus of international banking supervision in the future. In addition, the implementation of internal rating law also indicates that the trend of future supervision is the combination of internal and external supervision of Banks.

The new agreement requires financial institutions to adopt the same approach for risk measurement and treatment, and institutions adopt similar methods for risk measurement and allocation of corresponding regulatory capital and impairment provision

Financial assets are initially measured and subsequently measured in accordance with fair value. No matter they are collateral or securitized products, when the market is in a boom cycle, the value tends to be consistent, and various market participants tend to have the same understanding of risk, which weakens the role of market diversification risk and easily leads to pro-cyclical effect.

Because the new agreement regulates the credit risk in too much detail, the cost of establishing a new enforcement system is too high, and the proposed new rules are too detailed. A system riddled with red tape is bound to be leaky and could be exploited by Banks. If implemented, these provisions could worsen the economic cycle by encouraging Banks to lend in good times and lending sparingly in bad times.

The complexity of the risk measurement model of the new agreement's internal rating method determines the relatively narrow range of Banks it covers. In fact, only big Banks can have the resources and expertise to establish and maintain complex risk management systems and adopt advanced credit risk measurement methods with the new framework, and only transnational Banks can have the capital and human resources to implement the IRB method. However, in order to implement it, small and medium-sized Banks must spend a lot of time and cost to accumulate the professional skills of risk management and establish information technology system. It is estimated that the average bank could incur an additional cost of $500,000 to $15m a year to measure credit risk using this method.

Although the capital regulatory framework of asset securitization under the new agreement provides a relatively consistent guideline for the risk measurement of commercial Banks' asset securitization, the new agreement still does not pay enough attention to the market risk and operational risk of securitization. In the measurement method, there is no explanation of market risk or operational risk.

The third pillar of the New Deal is market discipline, which is designed to make market forces more binding by requiring Banks to disclose information. According to the importance of the information, the new agreement requires the bank to disclose the scope of application, capital composition, risk exposure and capital adequacy ratio of the new capital agreement. Core disclosure applies to all Banks, while Banks using the internal rating method must disclose other relevant information. It is difficult for Banks to find the right balance between the cost of transparency and the cost of providing it.

The original intention of the framework of asset securitization under the new agreement is to limit capital arbitrage, but the market is always ahead of the supervision. As for the risk measurement of asset securitization, standard method, internal rating method and senior method can be adopted, and there are still capital arbitrage opportunities in different risk treatment methods. The new agreement, for example, encourages Banks to adopt advanced internal rating methods to improve their risk management, which would require less regulatory capital than would otherwise be required, creating new opportunities for regulatory arbitrage. Banks can also reduce regulatory capital requirements by designing synthetic securitization products suitable for internal rating. Even if we try to improve the regulatory framework now, the arbitrage opportunity will always exist under the developing financial innovation, which makes it impossible to eliminate the capital arbitrage through the asset securitization framework.

Due to the high requirements of internal rating technology and data, small and medium-sized Banks are restricted by conditions and difficult to meet the requirements, thus putting them at a disadvantage in the competition. As mentioned earlier in incentive-compatible regulation, the use of the internal rating method is more advantageous than the use of the standard method, and the use of the higher method has lower capital requirements than the use of the primary method, with the goal of facilitating Banks to improve their internal risk management techniques. However, due to the complicated technology of internal rating method, many small and medium-sized Banks do not have corresponding technical level. From the perspective of scale effect, the cost and benefit ratio of big Banks to adopt advanced risk measurement method is lower than that of small and medium-sized Banks, which will be unfavorable to the development of small and medium-sized Banks and worsen the competitive environment of Banks.

In addition, if the new agreement is implemented worldwide, developing countries will also be at a competitive disadvantage since developed countries also have better technologies in risk measurement and management than developing countries.

51due留学教育原创版权郑重声明:原创paper代写范文源自编辑创作,未经官方许可,网站谢绝转载。对于侵权行为,未经同意的情况下,51Due有权追究法律责任。主要业务有essay代写、assignment代写、paper代写服务。

51due为留学生提供最好的paper代写服务,亲们可以进入主页了解和获取更多paper代写范文 提供作业代写服务,详情可以咨询我们的客服QQ:800020041。

上一篇:Market constraints on commerci 下一篇:Marketing by multinational com