Overview
One of the lessons learned from the Global Financial Crisis of 2007–9 is that minimum capital requirements are a necessary but inadequate safeguard for the stability of an intermediary. Despite the high levels of capitalization of many banks before the crisis, they too experienced serious difficulties due to insufficient liquidity buffers. Thus, for the first time, after the GFC regulators realized that liquidity risk can jeopardize the orderly functioning of a bank and, in some cases, its survival. Previously, the risk did not receive the same attention by regulators at the international level as other types of risk including credit, market, and operational risks. The GFC promoted liquidity risk to a significant place in regulatory reform, introducing uniform international rules and best practices. The literature has studied the potential effects of the new liquidity rules on the behaviour of banks, the financial system, and the economy as a whole. This book provides a comprehensive understanding of the bank liquidity crisis that occurred during the GFC, of the liquidity regulatory reform introduced by the Basel Committee with the Basel III Accord, and its implications both at the micro and macroeconomic levels. Università Cattolica del Sacro Cuore contributed to the funding of this research project and its publication.
Full Product Details
Author: Laura Chiaramonte
Publisher: Springer Nature Switzerland AG
Imprint: Springer Nature Switzerland AG
Edition: Softcover reprint of the original 1st ed. 2018
Dimensions:
Width: 14.80cm
, Height: 1.20cm
, Length: 21.00cm
Weight: 0.454kg
ISBN: 9783030068448
ISBN 10: 3030068447
Pages: 200
Publication Date: 03 January 2019
Audience:
Professional and scholarly
,
Professional & Vocational
Format: Paperback
Publisher's Status: Active
Availability: Manufactured on demand
We will order this item for you from a manufactured on demand supplier.
Author Information
Laura Chiaramonte is Associate Professor in Banking and Finance at Università Cattolica del Sacro Cuore of Milan, Italy. She gained her Bachelor’s in Business Economics and PhD in Business Administration from the University of Verona, Italy. She has been working as a visiting researcher at the Cass Business School, City University of London, UK since 2010. Her main research includes the role of bank credit default swaps (CDSs) in the financial crisis of 2007-9, the role of cooperative banks in promoting bank stability, the reliability of the Z-score in predicting bank failure, and the role of the Basel III capital and liquidity ratios in reducing bank distress phenomena. Her research has been published in journals, such as The European Journal of Finance, The British Accounting Review, European Financial Management, and Financial Markets, Institutions and Instruments.
