Capital adequacy regulation and financial conglomerates

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Title: Capital adequacy regulation and financial conglomerates
ISBN: 952-462-134-7
Author: Mälkönen, Ville
Organization: Suomen Pankki
Series: Suomen Pankin keskustelualoitteita
ISSN: 0785-3572
Series year: 2004
Series number: 10/2004
Year of publication: 2004
Publication date: 3.6.2004
Published in: Published in Journal of International Banking Regulation, Vol. 6, No. 1, 2004: 1-20
DOI: 10.1016/j.jfs.2008.05.001
Pages: 29 s.
Keywords: pankkitoiminta; pääoma; sääntely; vakavaraisuus; valvonta; vakuutuslaitokset; pääomavaatimus;
JEL: G21; G22; G28
Abstract: A topical concern in public-policy debate is that the current capital adequacy regulation designed for stand-alone financial institutions exhibits several weaknesses due to the emergence of large financial institutions combining several activities under common control.This paper addresses these concerns using a theoretical framework derived from the economic literature.I will first describe the possible causes of the emergence of financial conglomerates, proceed to consider the theoretical background for the regulation of financial institutions, especially insurance and banking companies, and, finally, examine the limitations of the current regulatory framework in controlling the risks in financial conglomerates.My conclusions provide little support for the view that the regulatory approach should be modified towards a more consolidated one (ie harmonization).Key words: banking, capital adequacy regulation, insurance, financial conglomerates JEL classification numbers: G21, G22, G28
Note: Ilmestynyt myös Journal of International Banking Regulation 2004 ; 6 ; 1 sekä hieman eri nimellä uudempi versio v. 2009 Journal of financial stability 5 ; 2.
Rights: https://helda.helsinki.fi/bof/copyright


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