Skip to main content

Macroprudential Regulation and International Policy Coordination

  • Chapter
  • First Online:
The Industrial Organization of Banking

Part of the book series: Contributions to Finance and Accounting ((CFA))

  • 280 Accesses

Abstract

In the aftermath of the 2007–2009 global financial meltdown and economic downturn and growth slowdown that followed, most nations’ governments mounted substantial efforts to rein in risks of future system-wide crises. One focus of these efforts has been the contemplation of and utilization of the so-called macroprudential policies to contain sources of systemic risk. The other area of emphasis has been consideration of and implementation of broadened forms of international regulatory policy coordination. This chapter considers both of these issues.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 129.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 169.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  • Acharya, Viral, 2003, Is the international convergence of capital adequacy regulation desirable? Journal of Finance, 53, 2745-2781.

    Article  Google Scholar 

  • Acharya, Viral, Lasse Pedersen, Thomas Phillippon, and Matthew Richardson, 2010, Measuring systemic risk, Manuscript, Stern School of Business, New York University, May.

    Google Scholar 

  • Acharya, Viral, Lasse Pedersen, Thomas Phillippon, and Matthew Richardson, 2011, in Viral Acharya and Matthew Ricardson, eds., Regulating Wall Street: The Dodd-Frank Act and the New Architecture of Global Finance, New York: New York University, pp. 87-119.

    Google Scholar 

  • Acharya, Vira, and Tanju Yorulmazer, 2007, Too many to fail—An analysis of time-inconsistency in bank closure policies, Journal of Financial Intermediation 16, 1-31.

    Article  Google Scholar 

  • Acharya, Viral, and Tanju Yorulmazer, 2008, Information contagion and bank herding, Journal of Money, Credit, and Banking 40, 215-231.

    Article  Google Scholar 

  • Agur, Itai, 2014, Bank risk within and across equilibria, Journal of Banking and Finance 48, 322-333.

    Article  Google Scholar 

  • Aikman, David, Piergiorgio Alessandri, Bruno Eklund, Prasanna Gai, Sujit Kapadia, Elizabeth Martin, Nada Mora, Gabriel Sterne, and Matthew Willison, 2009, Funding liquidity risk in a quantitative model of systemic stability, Bank of England Working Paper No. 372, June 2009.

    Google Scholar 

  • Aikman, David, Jonathan Bridges, Anil Kashyap, and Caspar Siegert, 2019, Would macroprudential regulation have prevented the last crisis, Journal of Economic Perspectives 33, 107-130.

    Article  Google Scholar 

  • Akinci, Ozge, and Jane Olmstead-Rumsey, 2018, How effective are macroprudential policies? An empirical investigation, Journal of Financial Intermeidation 33, 33-57.

    Google Scholar 

  • Albertazzi, Ugo, and Leonardo Gambacorta, 2009, Bank profitability and the business cycle 5, 393-409.

    Google Scholar 

  • Aldasoro, Inaki, Bryan Hardy, and Maximilian Jager, 2022, The Janus face of bank geographic complexity 134, 106040.Ai

    Google Scholar 

  • Altunbas, Yener, David Marques-Ibanez, Michiel van Leuvensteijn, and Tianshu Zhau, 2022, Market power and bank systemic risk: Role of securitization and bank capital, Journal of Banking and Finance 138, 106451.

    Article  Google Scholar 

  • Andries, Alin Marius, Simona Nistor, Steven Ongena, and Nicu Springcean, 2020, On becoming and O-SII (“Other Systemically Important Institution”), Journal of Banking and Finance 111, 105723.

    Article  Google Scholar 

  • Anginer, Deniz, Asli Demirgüç-Kunt, and Davide Mare, 2018, Bank capital institutional environment, and systemic stability, Journal of Financial Stability 37, 97-106.

    Article  Google Scholar 

  • Bae, Kee-Hong, G. Andrew Karolyi, and René Stulz, 2003, A new approach to measuring financial contagion, Review of Financial Studies 16, 717-763.

    Article  Google Scholar 

  • Bakkar, Yassine, Olivier De Jonghe, and Amine Tarazi, Forthcoming, Does banks’ systemic importance affect their capital structure and balance sheet adjustment processes? Journal of Banking and Finance.

    Google Scholar 

  • Balasubramanyan, Lakshmi, and David VanHoose, 2013, Bank balance sheet dynamics under a regulatory liquidity ratio constraint, Journal of Macroeconomics 37, 53-67.

    Article  Google Scholar 

  • Banerjee, Ryan, and Hitoshi Mio, 2018, The impact of liquidity regulation on banks, Journal of Financial Intermediation 35, 30-44.

    Article  Google Scholar 

  • Barrell, Ray, E. Phillip Davis, Dilruba Karim, and Iana Liadze, 2010, Bank regulation, property prices, and early warning systems for banking crises in OECD countries, Journal of Banking and Finance 34, 2255-2264.

    Article  Google Scholar 

  • Barth, James, Daniel Nolle, and Apanard Prabha, 2014, Banking structure and regulation in 1993 and 2013: A Cross-Country Comparison, Milken Institute Research Report, June.

    Google Scholar 

  • Beck, Thorsten, Consuelo Silva-Buston, and Wolf Sagner, Forthcoming, The economics of supranational bank supervision, Journal of Financial and Quantitative Analysis.

    Google Scholar 

  • Beck, Thorsten, Radomir Todorov, and Wolf Wagner, 2013b, Supervising cross-border banks: Theory, evidence, and policy, Economic Policy, 5-44.

    Google Scholar 

  • Beck, Thorsten, and Wolf Wagner, 2018, Supranational supervision: How much and for whom? International Journal of Central Banking 44, 221-268.

    Google Scholar 

  • Behn, Markus, Claudio Daminato, and Carmelo Salleo, 2019, A dynamic model of bank behavior under multiple regulatory constraints, European Central Bank Working Paper No. 2233, January.

    Google Scholar 

  • Bernanke, Ben, 2008, Reducing systemic risk, Speech, Federal Reserve Bank of Kansas City Jackson Hole Conference, August 22.

    Google Scholar 

  • Berrospide, Jose, Ricardo Correa, Linda Goldberg, and Friederike Niepmann, 2016, International banking and cross-border effects of regulation: Lessons from the United States, National Bureau of Economic Research Working Paper No. 22645, September.

    Google Scholar 

  • Billio, Monica, Mila Getmansky, Andrew Lo, and Loriana Pelizzon, 2010, Measuring systemic risk in the finance and insurance sectors, MIT

    Google Scholar 

  • Bliss, Robert, and George Kaufman, 2006, Derivatives and systemic risk: Netting, collateral, and closeout, Journal of Financial Stability 2, 55-70.

    Article  Google Scholar 

  • Borio, Claudio, 2003, Towards a macroprudential framework for financial supervision and regulation? BIS Working Paper No. 128, Bank for International Settlements, February.

    Google Scholar 

  • Borio, Claudio, 2009, The macroprudential approach to regulation and supervision, Vox (http://voxeu.org), April 14.

  • Born, Benjamin, Michael Ehrmann, and Marcel Fratzscher, 2010, Macroprudential policy and central bank communication, Center for Economic Policy Research Paper No. DP8094.

    Google Scholar 

  • Bouwman, Christa, Shuting Sophia Hu, and Shane Johnson, 2018, Differential bank behaviors around the Dodd-Frank Act size thresholds, Journal of Financial Intermediation 34, 47-57.

    Article  Google Scholar 

  • Boyer, Pierre, and Hubert Kempf, 2016, Regulatory arbitrage and efficiency of banking regulation, CESifo Working Paper No. 5878, April.

    Google Scholar 

  • Brownlees, Christian, and Robert Engle, 2010, Volatility, correlation, and tails for systemic risk measurement, Working Paper, New York University, July.

    Google Scholar 

  • Brownlees, Christian, Ben Chabot, Eric Ghysels, and Christopher Kurz, 2020, Back to the future: Backtesting systemic risk measures during historical bank runs and the Great Depression, Journal of Banking and Finance 113, 105736.

    Article  Google Scholar 

  • Brunnermeier, Markus, Andrew Crockett, Charles Goodhart, Avinash Persaud, and Hyun Shin, 2009, The Fundamental Principles of Financial Regulation, Geneva Reports on the World Economy, #11, London: Center for Economic Policy Research.

    Google Scholar 

  • Buch, Claudia, Bjorn Hilberg, and Lenga Tonzer, 2016, Taxing banks: An evaluation of the German bank levy, Journal of Banking and Finance 72, 52-66.

    Article  Google Scholar 

  • Caballero, Ricardo, and Alp Simsek, 2013, Fire sales in a model of complexity, Journal of Finance 68, 2549-2587.

    Article  Google Scholar 

  • Capelle-Blancard, Gunther, and Olena Havrylchyk, 2017, Incidence of bank levy and bank market power, Review of Finance, January, 1023-1046.

    Google Scholar 

  • Carletti, Elena, Giovanni Dell’Ariccia, and Robert Marquez, 2021a, Supervisory incentives in a banking union, Management Science 67, 455-470.

    Article  Google Scholar 

  • Carlson, Mark, Burcu Duygan-Bump, and William Nelson, 2015, Why do we need both liquidity regulations and a lender of last resort? A persepective from Federal Reserve lending during the 2007-2009 financial crisis, Bank for International Settlements Working Paper No. 493, February.

    Google Scholar 

  • Castrén, Olli, and Ilja Kristian Kavonius, 2009, Balance sheet interlinkages and macro-financial risk analysis in the euro area, European Central Bank Working Paper No. 1124, December.

    Google Scholar 

  • Celerier, Claire, Thomas Kick, and Steven Ongena, 2019, Taxing bank leverage: The effects on bank portfolio allocation, Working Paper, University of Zurich, October 22.

    Google Scholar 

  • Cetina, Jill, and Katherine Gleason, 2015, The difficult business of measuring banks’ liquidity: Understanding the liquidity coverage ratio, Office of Financial Research Working Paper No. 15-20, U.S. Department of the Treasury, October 7.

    Google Scholar 

  • Chakravorti, Sujit, 2000, Analysis of systemic risk in multilateral net settlement systems, Journal of International Financial Markets, Institutions, and Money 10, 9-30.

    Article  Google Scholar 

  • Chronopoulos, Dimitris, Anna Sobiech, and John Wilson, 2019, The Australian bank levy: Do shareholders pay? Finance Research Letters 28, 412-415.

    Article  Google Scholar 

  • Čihák, Martin, and Klaus Schaeck, 2010, How well do aggregate prudential ratios identify banking system problems? Journal of Financial Stability 6, 130-144.

    Article  Google Scholar 

  • Clement, Piet, 2010, The term ‘macroprudential’: Origins and evolution, BIS Quarterly Review, Bank for International Settlements, March, 59-67.

    Google Scholar 

  • Coase, Ronald, 1960, The problem of social cost, Journal of Law and Economics 3, 1-44.

    Article  Google Scholar 

  • Cocco, João, Francisco Gomes, and Nuno Martins, 2009, Lending relationships in the interbank market, Journal of Financial Intermediation 18, 24-48.

    Article  Google Scholar 

  • Colliard, Jen-Edouard, 2020, Optimal supervisory architecture and financial integration in a banking union, Review of Finance 24, 129-161.

    Google Scholar 

  • Correa, Ricardo, and Linda Goldberg, 2022, Bank complexity, governance, and risk, Journal of Banking and Finance 134, 106013.

    Article  Google Scholar 

  • Cehajic, Aida, and Marko Kosak, 2022, Bank lending and small and medium-sized enterprises’ access to finance—Effects of macroprudential policies, Journal of International Money and Finance 124, 102612.

    Article  Google Scholar 

  • Cornett, Marcia Millon, Kritina Minnick, Patrick Schomo, and Hassan Tehranian, 2020, An examination of bank behavior around Federal Reserve stress tests, Journal of Financial Intermediation 41, 100789.

    Article  Google Scholar 

  • Dalen, Dag Morten, and Trond Olsen, 2003, Regulatory competition and multi-national banking, CESifo Working Paper No. 971, June.

    Google Scholar 

  • Daly, Kevin, Jonathan Batten, Anil Mishra, and Tonmoy Choudhury, 2019, Contagion risk in global banking sector, Journal of International Financial Markets, Institutions, and Money 63, 101136.

    Article  Google Scholar 

  • Daníelsson, Jón, 2008, Blame the models, Journal of Financial Stability 4, 321-328.

    Article  Google Scholar 

  • Daníelsson, Jón, Kevin James, Marcela Valenzuela, and Ilknur Zer, 2016, Can we prove a bank guilty of creating systemic risk? A minority report, Journal of Money, Credit, and Banking 48, 795-812.

    Article  Google Scholar 

  • Davis, E. Phillip, and Dilruba Karim, 2009, Macroprudential regulation—The missing policy pillar, Euroframe Conference on Economic Policy Issues in the European Monetary Union, June 12.

    Google Scholar 

  • Davis, E. Phillip, and Dilruba Karim, 2008, Comparing early warning systems for banking crises, Journal of Financial Stability 4, 89-120.

    Article  Google Scholar 

  • Devereux, Michael, Niels Johannesen, and John Vella, 2019, Can taxes tame the banks? Evidence from the European bank levies, Economic Journal 129, 3058-3091.

    Article  Google Scholar 

  • Davydov, Denis, Sami Vahamaa, and Sara Yasar, 2021, Bank liquidity creation and system risk, Journal of Banking and Finance 123, 106031.

    Article  Google Scholar 

  • De Jonghe, Olivier, 2010, Back to basics in banking? A micro-analysis of banking system stability, Journal of Financial Intermediation 19, 387-417.

    Article  Google Scholar 

  • Dell’Ariccia, Giovanni, and Robert Marquez, 2006a, Competition among regulators and credit market integration, Journal of Financial Economics 79, 401-430.

    Article  Google Scholar 

  • De Nicolo, Gianni, and Myron Kwast, 2002, Systemic risk and financial consolidation: Are they related? Journal of Banking and Finance 26, 861-880.

    Article  Google Scholar 

  • De Schryder, Selien, and Frederic Opitz, 2021, Macroprudential policy and its impact on the credit cycle, Journal of Financial Stability 53, 100818.

    Article  Google Scholar 

  • Devereux, Michael, 2014, New bank taxes: Why and what will be the effects, in Taxation and Regulation of the Financial Sector, ed. Ruud de Mooij and Gaëtan Nicodème, MIT Press, Cambridge, MA, pp. 25-54.

    Google Scholar 

  • D’Hulster, Katia, 2012, Cross-border banking supervision: Incentive conflicts in supervisory information sharing between home and host supervisors, Journal of Banking Regulation 13, 300-319.

    Article  Google Scholar 

  • Dia, Enzo, and David VanHoose, 2018b, Bank taxes and loan monitoring: A cautionary tale, Manchester School 86, 1-20.

    Article  Google Scholar 

  • Diamond, Douglas, and Phillip Dybvig, 1983, Bank runs, deposit insurance, and liquidity, Journal of Political Economy 91, 401-419.

    Article  Google Scholar 

  • Distinguin, Isabelle, Caroline Roulet, and Amine Tarazi, 2013, Bank regulatory capital and liquidity: Evidence from U.S. and European publicly traded banks, Journal of Banking and Finance 37, 3295-3317.

    Article  Google Scholar 

  • Eisenberg, Larry, and Thomas Noe, 2001, Systemic risk in financial systems, Management Science 47, 236-249.

    Article  Google Scholar 

  • Eldridge, Damien, Heajin Ryoo, and Axel Wieneke, 2015, Bank capital regulation with asymmetric countries, Economic Record 91, 79-90.

    Article  Google Scholar 

  • Elsinger, Helmut, Alfred Lehar, and Martin Summer, 2006a, Systemically important banks: An analysis for the European banking system, International Economics and Economic policy 3, 73-89.

    Article  Google Scholar 

  • Elsinger, Helmut, Alfred Lehar, and Martin Summer, 2006b, Risk assessment for banking systems, Management Science 52, 1301-1314.

    Article  Google Scholar 

  • Engineer, Merwan, Paul Schure, and Mark Gillis, 2013, A positive analysis of deposit insurance provision: Regulatory competition among European Union countries, Journal of Financial Stability 9, 530-544.

    Article  Google Scholar 

  • Evans, Owen, Alfredo Leone, Mahinder Gill, Paul Hilbers, Winfrid Blaschke, Russell Krueger, Marina Moretti, Jun Nagayasu, Mark O’Brien, Joy ten Berge, and DeLisle Worrell, 2000, Macroprudential indicators of financial system soundness, Occasional Paper No. 192, International Monetary Fund, April.

    Google Scholar 

  • Fecht, Falko, and Hans Peter Grüner, 2007, Financial integration and systemic risk, Unpublished Working Paper, Deutsche Bundesbank and University of Mannheim, January 22.

    Google Scholar 

  • Folkerts-Landau, David, 1990, The case for international coordination of financial policy, in William Branson, Jacob Frenkel, and Morris Goldsten, eds., International Policy Coordination and Exchange Rate Fluctuations, Chicago: University of Chicago Press, pp. 279-306.

    Google Scholar 

  • Franch, Fabio, Luca Nocciola, and Dawid Zochowski, 2021, Cross-border effects of prudential regulation: Evidence from the euro area, Journal of Financial Stability 53, 100820.

    Article  Google Scholar 

  • Freixas, Xavier, Bruno Parigi, and Jean-Charles Rochet, 2000, Systemic risk, interbank relations, and liquidity provision by the central bank, Journal of Money, Credit, and Banking 32, 611-638.

    Article  Google Scholar 

  • Furfine, Craig, 2003, Interbank exposures: Quantifying the risk of contagion, Journal of Money, Credit, and Banking 35, 111-128.

    Article  Google Scholar 

  • Gaspar, Vitor, and Garry Schinasi, 2010, Financial stability and policy cooperation, Occasional paper 1/2010, Bank of Portugal, July.

    Google Scholar 

  • Gauthier, Céline, Alfred Lehar, and Moez Mouissi, 2010, Macroprudential capital requirements and systemic risk, Manuscript, Bank of Canada and University Calgary, July.

    Book  Google Scholar 

  • Gonzalez, Francisco, 2022, Macroprudential policies and bank competition: International bank-level evidence, Journal of Financial Stability 58, 100967.

    Article  Google Scholar 

  • Hanson, Samuel, Anil Kashyap, and Jeremy Stein, 2011, A macroprudential approach to financial regulation, Journal of Economic Perspectives 25, 3-28.

    Article  Google Scholar 

  • Haufler, Andreas, 2021, Regulatory and bailout decisions in a banking union, Journal of Banking and Finance 133, 106300.

    Article  Google Scholar 

  • Haufler, Andreas, and Ulf Maier, 2019, Regulatory competition in capital standards: A ‘race to the top’ result, Journal of Banking and Finance 106, 180-194.

    Article  Google Scholar 

  • Holthausen, Cornelia, and Thomas Rønde, 2004, Cooperation in international banking supervision, European Central Bank Working Paper No. 316, March.

    Google Scholar 

  • Houston, Joel, Chen Lin, and Yue Ma, 2012, Regulatory arbitrage and international bank flows, Journal of Finance 67, 1845-1895.

    Article  Google Scholar 

  • Hryckiewicz, Aneta, Piotr Mielus, Karolina Skorulska, and Malgorzta Snarska, 2018, Does a bank levy increase frictions in the interbank market? Economic Institute for Empirical Analysis, Center for Analysis of Financial Systems Working Paper.

    Google Scholar 

  • Huang, Xin, Hao Zhou, and Haibin Zhu, 2010, Systemic risk contributions, Working Paper, University of Oklahoma, Board of Governors of the Federal Reserve System, and Bank for International Settlements, August.

    Google Scholar 

  • Huang, Xin, Hao Zhou, and Haibin Zhu, 2009, A framework for assessing the systemic risk of major financial institutions, Journal of Banking and Finance 33, 2036-3049.

    Article  Google Scholar 

  • Iori, Giulia, Saqib Jafarey, and Francisco Padilla, 2006, Systemic risk on the interbank market, Journal of Economic Behavior and Organization 61, 525-542.

    Article  Google Scholar 

  • Jacob, Punnoose, and Anella Munro, 2016, A macroprudential stable funding requirement and monetary policy in a small open economy, Crawford School of Public Policy Centre for Applied Macroeconomic Analysis Working Paper 23/2016, May.

    Google Scholar 

  • Jorion, Philippe, and Gaiyan Zhang, 2009, Credit contagion from counterparty risk, Journal of Finance 64, 2053-2087.

    Article  Google Scholar 

  • Kane, Edward, 2010b, Redefining and containing systemic risk, Atlantic Economic Journal 38, 251-264.

    Article  Google Scholar 

  • Kashyap, Anil, Richard Berner, and Charles Goodhart, 2010, The Macroprudential Toolkit, Chicago Booth Initiative on Global Markets Working Paper No. 60, December.

    Google Scholar 

  • Kogler, Michael, 2019, On the incidence of bank levies: theory and evidence, International Tax and Public Finance 26, 677-718.

    Article  Google Scholar 

  • Kopecky, Kenneth, and David VanHoose, 2012, Can capital requirements induce private monitoring that is socially optimal? Journal of Financial Stability 8, 252-262.

    Article  Google Scholar 

  • Kretzschmar, Gavin, Alexander McNeil, and Axel Kirchner, 2010, Integrated models of capital adequacy—Why banks are undercapitalized, Journal of Banking and Finance 34, 2838-2850.

    Article  Google Scholar 

  • Lehar, Alfred, 2005, Measuring systemic risk: A risk management perspective, Journal of Banking and Finance 29, 2577-2603.

    Article  Google Scholar 

  • Liebmann, Eva, and Joe Peek, 2015, Global standards for liquidity regulation, Current Policy Perspectives, Federal Reserve Bank of Boston, July.

    Google Scholar 

  • Macchiavelli, Marco, and Luke Pettit, 2021, Liquidity regulation and financial intermediaries, Journal of Financial and Quantitative Analysis 56, 2237-2271.

    Article  Google Scholar 

  • Montagna, Mattia, Gabriele Torri, and Giovanni Covi, 2021, On the origin of systemic risk, Bank of England Staff Working Paper No. 906.

    Google Scholar 

  • Moratis, Georgios, and Plutarchos Sakellaris, 2021, Measuring the systemic importance of banks, Journal of Financial Stability 54, 100878.

    Article  Google Scholar 

  • Morrison, Alan, and Lucy White, 2009, Level playing fields in international financial regulation, Journal of Finance 64, 1099-1142.

    Article  Google Scholar 

  • Olszak, Malgorzata, and Iwona Kowalska, 2022, Does bank competition matter for the effects of macroprudential policy on the procyclicality of lending, Journal of International Financial Markets, Institutions, and Money 76, 101484.

    Article  Google Scholar 

  • Ongena, Steven, Alexander Popov, and Gregory Udell, 2013, “When the cat’s away the mice will play”: Does regulation at home affect bank risk-taking abroad? Journal of Financial Economics 108, 727-750.

    Article  Google Scholar 

  • Persaud, Avinash, 2009, Macro-prudential regulation, Crisis Response #6, World Bank, July.

    Google Scholar 

  • Pulawska, Karolina, 2022, Effects of the bank levy on the interbank market, International Journal of Finance and Economics 27, 844-864.

    Article  Google Scholar 

  • Pulawska, Karolina, 2021, The Effect of bank levy on commercial banks in Europe, Journal of Risk and Financial Management 14, 278-304.

    Article  Google Scholar 

  • Reiter, Franz, 2018, Taxing the Financial Sector: Micro-Level Evidence on Banks’ Reactions, Ph.D. Dissertation, University of Munich.

    Google Scholar 

  • Reiter, Dominika Langenmayr, and Svea Holtmann, 2021, Avoiding taxes: Banks’ use of international debt, International Tax and Public Finance

    Google Scholar 

  • Rochet, Jean-Charles, 2010, Systemic risk: Changing the regulatory perspective, International Journal of Central Banking 6, 259-276.

    Google Scholar 

  • Rochet, Jean-Charles, and Jean Tirole, 2006, Two-sided markets: A progress report, Rand Journal of Economics 37, 645-667.

    Article  Google Scholar 

  • Rochet, Jean-Charles, and Jean Tirole, 2009, Why Are There So Many Banking Crises? Princeton: Princeton University Press.

    Book  Google Scholar 

  • Schoenmaker, Dirk, 2011, The financial trilemma, Economics Letters 111, 57-59.

    Article  Google Scholar 

  • Segoviano, Miguel, and Charles Goodhart, 2009, Banking stability measures, International Monetary Fund Working Paper WP/09/04, January.

    Google Scholar 

  • Sinn, Hans-Werner, 2001, Risk taking, limited liability, and the competition of bank regulators, NBER Working Paper 8669, December.

    Google Scholar 

  • Tarashev, Nikola, Claudio Borio, and Kostas Tsatsaronis, 2010, Attributing systemic risk to individual institutions, Bank for International Settlements Working Paper No. 308, May.

    Google Scholar 

  • Temesvary, Judit, 2018, The role of regulatory arbitrage in U.S. banks’ international lending flows: Bank-level evidence, Economic Inquiry 56, 2077-2098.

    Article  Google Scholar 

  • VanHoose, David, 2013c, Evaluating the centralized-layers approach to U.S. federal financial regulation, Mercatus Center, George Mason University, July 15.

    Google Scholar 

  • VanHoose, David, 2011, Systemic risk and macroprudential bank regulation: A critical appraisal, Journal of Financial Transformation 33, 45-60.

    Google Scholar 

  • Varotto, Simone, and Lei Zhao, 2018, Systemic risk and bank size, Journal of International Money and Finance 82, 45-70.

    Article  Google Scholar 

  • Veljanovski, Cento, 2010, Economic approaches to regulation, In Robert Baldwin, Martin Cave, and Martin Lodge, eds., The Oxford Handbook of Regulation, Oxford: Oxford University Press.

    Google Scholar 

  • von Peter, Goetz, 2009, Asset prices and banking distress: A macroeconomic approach, Journal of Financial Stability 5, 298-319.

    Article  Google Scholar 

  • Wagner, Wolf, 2010, Diversification at financial institutions and systemic crises, Journal of Financial Intermediation 19, 373-386.

    Article  Google Scholar 

  • Wagner, Wolf, 2009, In the quest of systemic externalities: A review of the literature, Working Paper, Tilburg University, February.

    Google Scholar 

  • Wagner, Wolf, 2008, The homogenization of the financial system and financial crises, Journal of Financial Intermediation, 17, 330-356.

    Article  Google Scholar 

  • Weinberg, John, 2002, Competition among bank regulators, Federal Reserve Bank of Richmond Quarterly 88, Fall, 19-36.

    Google Scholar 

  • White, Lawrence J., 1994, On the international harmonization of bank regulation, Oxford Review of Economic Policy 10, 94-105.

    Article  Google Scholar 

  • White, William, 2008, Past financial crises, the current financial turmoil, and the need for a new macrofinancial stability framework, Journal of Financial Stability 4, 307-312.

    Article  Google Scholar 

  • Wu, Ji, Minghua Chen, Bang Nam Jeon, and Rui Wang, 2017, Does foreign bank penetration affect the risk of domestic banks? Evidence from emerging economies, Journal of Financial Stability 31, 45-61.

    Article  Google Scholar 

  • Wyplosz, Charles, 2009, The ICMB-CEPR Geneva Report: ‘The Future of Financial Regulation,’ Vox, January 27 (http://www.voxeu.org/index.php?q=node/2872).

  • Zhou, Chen, 2010, Are banks too big to fail? Measuring systemic importance of financial institutions, International Journal of Central Banking 6, 205-250.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Rights and permissions

Reprints and permissions

Copyright information

© 2022 The Author(s), under exclusive license to Springer Nature Switzerland AG

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

VanHoose, D. (2022). Macroprudential Regulation and International Policy Coordination. In: The Industrial Organization of Banking. Contributions to Finance and Accounting. Springer, Cham. https://doi.org/10.1007/978-3-031-16241-1_10

Download citation

Publish with us

Policies and ethics