The New Basel Capital Accord Standardised Approach …：巴塞尔新资本协议标准法….pptVIP

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2018-06-24 发布于四川
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The New Basel Capital Accord Standardised Approach …：巴塞尔新资本协议标准法….ppt

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The New Basel Capital Accord Standardised Approach …：巴塞尔新资本协议标准法…

WHAT CAN FINANCIAL REGULATION DO TO ENSURE STABLE CREDIT IN EMERGING COUNTRIES: Alicia Garcia Herrero BIS, Representative Office for Asia and the Pacific Financial Reforms in China an Latin America Beijing June 7, 2007 ROADMAP TO PRESENTATION 1. Evolution of financial regulation and impact Before Basel I, regulation was heterogeneous across countries Basel I was an improvement: Equal treatment of banks in terms of capital requirements Reversing ongoing trend towards reduction in capital But still not perfect Not much account of risk Its impact on granting credit is controversial Chiuri et al (2002) show a reduction while Barajas, Chami and Cosimano (2005)do not find such evidence 2. Basel II and stable credit Basel II should bring about a number of improvements, such as: Better risk measurement and risk management The number of firms with a credit rating should increase (specially for standard approach) Better understanding of risk: concept of economic capital and risk adjusted return on capital 2. Basel II and stable credit? (cont’) Improvements in the banks’ balance sheet A larger range of assets can be used as collateral (credit derivatives to some extent and Treats securitization of riskier assets better than Basel II (i.e.more demand for emerging countries’ assets) Less incentives to provide short-term lending The Asian crisis shows that excessive short-term lending can be a big drawback See Basel Committee Working Paper No.2 June 1999 2. Basel II and stable credit (con’t) Better ex-ante measurement of credit quality Not only status but also evolution of credit quality Important to limit unwarranted growth in credit 2. Basel II and stable credit (cont’) Increased prociclicality may be an issue (IMF, 2005 and Persaud, 2000) The final version of the Accord has addressed this concern but hard to tell whether it is enough In any event, not an issue if regulatory capital not binding as is the case in many emerging countries 2. Basel II and stable c