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Bank Liquidity and the Global Financial Crisis - The Causes and Implications of Regulatory Reform (Hardcover, 1st ed. 2018)
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Bank Liquidity and the Global Financial Crisis - The Causes and Implications of Regulatory Reform (Hardcover, 1st ed. 2018)
Series: Palgrave Macmillan Studies in Banking and Financial Institutions
Expected to ship within 12 - 17 working days
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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.
Universita Cattolica del Sacro Cuore contributed to the funding of
this research project and its publication.
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