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Banking's final exam : stress testing and bank-capital reform / Morris Goldstein, Peterson Institute for International Economics, Washington, DC.
- Format:
- Book
- Author/Creator:
- Goldstein, Morris, 1944- author.
- Series:
- Policy analyses in international economics ; 106.
- Policy analyses in international economics ; 106
- Language:
- English
- Subjects (All):
- Financial services industry--Risk management.
- Financial services industry.
- Asset-liability management.
- Banking law.
- Risk management.
- Physical Description:
- xix, 382 pages ; 24 cm.
- Place of Publication:
- Washington, DC : Peterson Institute for International Economics, 2016.
- Summary:
- In the wake of the global economic and financial crisis, bank supervisors in the United States and the European Union carried out a set of "stress tests" over the 2009-15 period. The objective was to determine which banks could survive severely adverse economic scenarios and to order corrective measures for vulnerable institutions. How effective was this exercise? In Banking's Final Exam, one of the world's leading experts on banking regulation concludes that the tests administered on both sides of the Atlantic suffered from several fundamental weaknesses that, unless corrected, can produce a false reassurance about the safety and soundness of the banking system. The author recommends a number of important steps for the future design and conduct of these tests, arguing that they are needed if stress testing is to become the central pillar of bank supervision worldwide.
- Contents:
- Introduction
- Why didn't the EU-wide stress tests receive a better reaction?
- Operational features and evolution of the US and EU-wide tests
- Criticisms of stress-testing methodology and of the measurement of bank capital
- Criticism of the height of the target capital ratio in stress tests
- Lessons and a plan
- References.
- Notes:
- Includes bibliographical references.
- Local Notes:
- Acquired for the Penn Libraries with assistance from the John Lammey Stewart Memorial Library Fund.
- Other Format:
- Online version: Goldstein, Morris, 1944- Banking's final exam.
- ISBN:
- 9780881327052
- 0881327050
- OCLC:
- 945571333
- Publisher Number:
- 99982766325
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