Global Regulatory Changes to the Banking Industry after the Financial Crisis: Basel III
DOI:
https://doi.org/10.1956/jge.v11i2.395Keywords:
Regulation of the banking industry, Basel Agreements, the Financial Crisis of 2007-2009.Abstract
Two global regulatory frameworks for the banking industry (the Basel I and Basel II Agreements) had already been developed and implemented when the Financial Crisis (2007-2009) hit the global economy, and a third version was under development. We center this study’s attention on the structure and functioning of the Basel III Agreement but, in order to set the background, we briefly discuss its previous versions (Basel I and Basel II). Finally, we present some comments on the meaningfulness and impact of the Basel Agreements worldwide, and offer our inferences on what will be the future of the world banking industry under Basel III.
References
- Bank for International Settlements. 2010. Basel III: International framework for liquidity risk measurement, standards and monitoring . Basel, Switzerland: Bank for International Settlements.
- Bank for International Settlements. 2014. A brief history of the Basel Committee. October. http://www.bis.org/bcbs/history.pdf
- Basel III Compliance Professionals Association. 2010. The G-20 leaders officially endorse the Basel III framework. Sourced from http://www.basel-iii-Agreement.com/, in November 4, 2010.
- Basel III Compliance Professionals Association. 2015. The Basel III Accord. Sourced from http://www.basel-iii-accord.com/, in April 4, 2015.
- Cannata, F., & Quagliariello, M. (2009). The role of Basel II in the Subprime Financial Crisis: Guilty or not Guilty? Milan: Center for Applied Research in Finance, Bocconi University, Working Paper 3/09; Electronic copy available at: http://ssrn.com/abstract=1330417.
- Culp, Christopher. “Structured Finance and Insurance: The Art of Managing Capital and Risk†John Wiley and Sons, Inc. 2006.
- Danielsson, J., Embrechts, P., Goodhart, C., Keating, C., Muennich, F., Renault, O., et al. (2001). An Academic Response to Basel II. London: LSE Financial Markets Group.
- Edmonds, Timothy. 2013. The Independent Commission on Banking: The Vickers Report. Standard Note: SNBT 6171, House of Commons Library.
- Feess, E., & Hege, U. (2005). The Basel II Agreement: Internal Rating and Bank Differentiation. HEC School of Management and CEPR.
- Liikanen, Erkki, et. al. 2012. High-Level Expert Group on reforming the structure of the EU banking sector. http://ec.europa.eu/internal_market/bank/docs/high-level_expert_group/report_en.pdf
- Nier, E. W. (2009). Financial Stability Frameworks and the Role of Central Banks: Lessons from the Crisis. The Future of Banking Regulation. Frankfurt am Main: International Monetary Fund, WP/09/70.
- Santillán-Salgado, R. (2014). The Takeover of ABN AMRO and Its Effects on Latin American Banking. Latin American Policy—Volume 4, Number 2—pp. 358–376.
- Bank for International Settlements. 2014. A brief history of the Basel Committee. October. http://www.bis.org/bcbs/history.pdf
- Basel III Compliance Professionals Association. 2010. The G-20 leaders officially endorse the Basel III framework. Sourced from http://www.basel-iii-Agreement.com/, in November 4, 2010.
- Basel III Compliance Professionals Association. 2015. The Basel III Accord. Sourced from http://www.basel-iii-accord.com/, in April 4, 2015.
- Cannata, F., & Quagliariello, M. (2009). The role of Basel II in the Subprime Financial Crisis: Guilty or not Guilty? Milan: Center for Applied Research in Finance, Bocconi University, Working Paper 3/09; Electronic copy available at: http://ssrn.com/abstract=1330417.
- Culp, Christopher. “Structured Finance and Insurance: The Art of Managing Capital and Risk†John Wiley and Sons, Inc. 2006.
- Danielsson, J., Embrechts, P., Goodhart, C., Keating, C., Muennich, F., Renault, O., et al. (2001). An Academic Response to Basel II. London: LSE Financial Markets Group.
- Edmonds, Timothy. 2013. The Independent Commission on Banking: The Vickers Report. Standard Note: SNBT 6171, House of Commons Library.
- Feess, E., & Hege, U. (2005). The Basel II Agreement: Internal Rating and Bank Differentiation. HEC School of Management and CEPR.
- Liikanen, Erkki, et. al. 2012. High-Level Expert Group on reforming the structure of the EU banking sector. http://ec.europa.eu/internal_market/bank/docs/high-level_expert_group/report_en.pdf
- Nier, E. W. (2009). Financial Stability Frameworks and the Role of Central Banks: Lessons from the Crisis. The Future of Banking Regulation. Frankfurt am Main: International Monetary Fund, WP/09/70.
- Santillán-Salgado, R. (2014). The Takeover of ABN AMRO and Its Effects on Latin American Banking. Latin American Policy—Volume 4, Number 2—pp. 358–376.
Downloads
Published
27.06.2015
How to Cite
Santillán-Salgado, R. J. (2015) “Global Regulatory Changes to the Banking Industry after the Financial Crisis: Basel III”, Journal of Global Economy, 11(2), pp. 83–100. doi: 10.1956/jge.v11i2.395.
Issue
Section
Articles
