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Banking's final exam : stress testing and bank-capital reform / Morris Goldstein.
EBSCOhost Academic eBook Collection (North America) Available online
EBSCOhost Academic eBook Collection (North America)- 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.
- Asset-liability management.
- Banking law.
- Physical Description:
- 1 online resource (408 pages) : illustrations, tables.
- Place of Publication:
- Washington, District of Columbia : Peterson Institute for International Economics, 2018.
- Summary:
- Spurred by the success of the first stress test of US banks toward the end of the global economic crisis in 2009, stress testing of large financial institutions has become the cornerstone of banking supervision worldwide. The aim of the tests is to determine which banks are adequately capitalized under severe economic shocks and to order corrective measures for those that are vulnerable. 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 suffer from fundamental weaknesses, leading to a false sense of reassurance about the safety and soundness of the banking system. Some weaknesses can be corrected within the existing bank-capital regime, but others will require bold reforms-including higher minimum capital requirements for the largest and most systemically-important banks. The banking industry is likely to resist these reforms, but this book explains why their objections do not hold water.
- 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 and index.
- Description based on print version record.
- ISBN:
- 9780881327069
- 0881327069
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