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  1. The universe of supervisory mandates - total eclipse of the core?
    Autor*in: Kirakul, Sasin; Yong, Jeffery; Zamil, Raihan
    Erschienen: 2021
    Verlag:  Bank for International Settlements, Financial Stability Institute, [Basel]

    Most banking supervisory authorities are charged with multiple mandates in addition to their core responsibility of fostering the safety and soundness (S&S) of banks and the banking system. Some of these mandates may conflict with, or divert scarce... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    Keine Rechte
    Fernleihe:
    keine Fernleihe

     

    Most banking supervisory authorities are charged with multiple mandates in addition to their core responsibility of fostering the safety and soundness (S&S) of banks and the banking system. Some of these mandates may conflict with, or divert scarce supervisory resources away from, the core S&S function. This paper takes stock of supervisory mandates in 27 jurisdictions and explores how banking supervisors interpret and navigate the S&S remit among other objectives. We find that most surveyed authorities have at least 10 or more objectives, accentuating potential tensions with their S&S remit – whose scope and complexity have increased over time. In this context, we outline a range of initiatives that some supervisory authorities take to deliver on their core S&S remit, while minimising potential tensions with other objectives. Nevertheless, the staggering range of objectives imposed on supervisory authorities highlights the extraordinary pressure placed on supervisors to juggle multiple responsibilities and risks diluting their ability to deliver on the core S&S mandate.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789292594565
    Schriftenreihe: FSI insights on policy implementation ; no 30 (March 2021)
    Schlagworte: banking regulation; banking supervision; supervisory independence; supervisory mandates; supervisory objectives
    Umfang: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  2. Uniformity, differentiation, and experimentalism in EU financial regulation
    the single supervisory mechanism in action
    Autor*in: Zeitlin, Jonathan
    Erschienen: [2021]
    Verlag:  Amsterdam Centre for European Studies, Amsterdam

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
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    Schriftenreihe: SSRN research paper ; 2021, 04
    Schlagworte: financial regulation; banking supervision; European Union; European Central Bank; experimentalist governance; differentiated integration; hierarchy; polyarchy
    Umfang: 1 Online-Ressource (circa 46 Seiten), Illustrationen
  3. Measuring the cost of equity of euro area banks
    Autor*in: Altavilla, Carlo; Bochmann, Paul Martin; Ryck, Jeroen De; Dumitru, Ana-Maria; Grodzicki, Maciej; Kick, Heinrich; Fernandes, Cecilia Melo; Mosthaf, Jonas; O'Donnell, Charles; Palligkinis, Spyros
    Erschienen: [January 2021]
    Verlag:  European Central Bank, Frankfurt am Main, Germany

    The cost of equity for banks equates to the compensation that market participants demand for investing in and holding banks’ equity, and has important implications for the transmission of monetary policy and for financial stability. Notwithstanding... mehr

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    Resolving-System (kostenfrei)

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    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Potsdamer Straße
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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 535
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    The cost of equity for banks equates to the compensation that market participants demand for investing in and holding banks’ equity, and has important implications for the transmission of monetary policy and for financial stability. Notwithstanding its importance, the cost of equity is unobservable and therefore needs to be estimated. This occasional paper provides estimates of the cost of equity for listed and unlisted euro area banks using a three-step methodology. In the first step, ten different models are estimated. In the second step, the models' results are combined applying an equal-weighting procedure. In the third step, the combined costs of equity for individual banks are aggregated at the euro area level and according to banks' business models. The results suggest that, since the Great Financial Crisis of 2007-08, the premia that investors demand to compensate them for the risk they bear when financing banks' equity has been persistently higher than the return on equity (ROE) generated by banks. We show that our estimates of cost of equity have plausible relationships to banks' fundamentals. The cost of equity tends to be higher for banks that are riskier (higher non-performing loan ratios), less efficient (higher cost-to-income ratio), and with more unstable funding sources (higher relative reliance on interbank deposits). Finally, we use bank fundamentals to estimate the cost of equity for unlisted banks. In general, unlisted banks are found to have a somewhat lower cost of equity compared to listed banks, with business model characteristics accounting for part of the estimated difference.

     
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    Quelle: Staatsbibliothek zu Berlin
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789289945103
    Weitere Identifier:
    hdl: 10419/234495
    Schriftenreihe: Occasional paper series / European Central Bank ; no 254 (January 2021)
    Schlagworte: : cost of equity; monetary policy; financial stability; banking supervision
    Umfang: 1 Online-Ressource (circa 57 Seiten), Illustrationen
  4. Lessons from the early establishment of banking supervision in Italy (1926-1936)
    Autor*in: Molteni, Marco; Pellegrino, Dario
    Erschienen: [2021]
    Verlag:  Banca d'Italia Eurosistema, [Rom]

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 512
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    keine Fernleihe
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    Sprache: Englisch
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    Format: Online
    Schriftenreihe: Quaderni di storia economica ; number 48 (October 2021)
    Schlagworte: banking supervision; capital requirements; banking history; lending of last resort
    Umfang: 1 Online-Ressource (circa 49 Seiten), Illustrationen
  5. Emerging sound practices on supervisory capacity development
    Autor*in: Crisanto, Juan Carlos; Prenio, Jermy; Singh, Manoj; Yong, Jeffery
    Erschienen: November 2022
    Verlag:  Bank for International Settlements, Financial Stability Institute, [Basel]

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789292596118
    Schriftenreihe: FSI insights on policy implementation ; no 46
    Schlagworte: capacity building; capacity development; banking supervision; insurance supervision; learning and development; training
    Umfang: 1 Online-Ressource (circa 40 Seiten), Illustrationen
  6. Evaluating the impact of dividend restrictions on euro area bank market values
    Autor*in: Andreeva, Desislava Č.; Bochmann, Paul; Schneider, Julius
    Erschienen: [2023]
    Verlag:  European Central Bank, Frankfurt am Main, Germany

    This paper evaluates the impact of the March 2020 European Central Bank recommendation that banks do not pay dividends or buy back shares on their market values. It documents a causal negative impact on bank share prices of around 7% during the two... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 534
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    keine Fernleihe

     

    This paper evaluates the impact of the March 2020 European Central Bank recommendation that banks do not pay dividends or buy back shares on their market values. It documents a causal negative impact on bank share prices of around 7% during the two weeks following its announcement. The recommendation affected the market values of banks directly, by delaying investor cash flows and indirectly, by increasing the uncertainty about future distributions and thus banks' equity risk premia. The impact differed across banks depending on their distribution plans and risk-adjusted profitability. Our analysis highlights the importance of managing perceptions about dividend uncertainty through credible communication about the expected duration, frequency and severity of dividend restrictions to limit their unintended side effects.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
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    Format: Online
    ISBN: 9789289959834
    Weitere Identifier:
    hdl: 10419/278363
    Schriftenreihe: Working paper series / European Central Bank ; no 2787 (February 2023)
    Schlagworte: bank dividends; banking supervision; bank capital; COVID-19 pandemic; bank cost of equity
    Umfang: 1 Online-Ressource (circa 42 Seiten), Illustrationen
  7. A risky bet: Should the EU choose a microprudential or a credit guidance approach to climate risk?
    Autor*in: Smoleńska, Agnieszka; Klooster, Jens van 't
    Erschienen: 25/10/2021
    Verlag:  European Banking Institute e.V., Frankfurt am Main, Germany

    Banking regulation and supervision have a key role to play in realising the EU’s climate change objectives. In this article we analyse the EU-level initiatives currently underway to green the banking system, in particular with regard to the... mehr

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    Standort:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Banking regulation and supervision have a key role to play in realising the EU’s climate change objectives. In this article we analyse the EU-level initiatives currently underway to green the banking system, in particular with regard to the microprudential rulebook. We document how regulators work hard to fit climate change concerns into the existing objectives of the microprudential framework. We also assess whether these efforts are likely to be successful by sketching two ways forward, which involve their own distinct hazards. The first is a predominantly microprudential approach which sees policy-makers take action to force banks to develop adequate internal risk management procedures while taking a largely agnostic approach as to what methodologies are appropriate. If this is the way forward, we see a number of risks: banks have a clear incentive to downplay risk, while large financial institutions gain a significant advantage and the distribution of responsibility between banks and supervisors becomes blurred. We also outline a second “credit guidance” approach, in which regulators provide fine-grained guidance on how banks should evaluate climate risk. Although we broadly think this approach is the more effective route to greening EU banking, we also see challenges of an entirely different sort: regulators will unavoidably face political choices and EU lawmakers need to consider issues of legality, legitimacy and accountability. In this regard, we argue, the EU faces a risky bet

     
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    Schriftenreihe: EBI working paper series ; no. 104 (2021)
    Schlagworte: sustainable finance; prudential regulation; banking supervision; European Banking Authority; taxonomy; climate change risk
    Umfang: 1 Online-Ressource (circa 26 Seiten)
  8. Navigating the Legal Landscape of AI-Enhanced Banking Supervision
    Protecting EU Fundamental Rights and Ensuring Good Administration
    Autor*in: Azzutti, Alessio; Batista, Pedro Magalhães; Ringe, Wolf-Georg
    Erschienen: [2023]
    Verlag:  SSRN, [S.l.]

    Banking supervisors worldwide recognise the pressing need to harness frontier technologies such as artificial intelligence (AI), particularly machine learning (ML), to enhance their efficiency and analytical capabilities. The European Central Bank... mehr

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Banking supervisors worldwide recognise the pressing need to harness frontier technologies such as artificial intelligence (AI), particularly machine learning (ML), to enhance their efficiency and analytical capabilities. The European Central Bank (ECB) has similarly acknowledged the opportunities offered by supervisory technology (SupTech) and established a dedicated Suptech Hub. However, the adoption of automated technologies in banking supervision raises complex questions of legality, transparency, and accountability, particularly for the ECB, as a public institution within the EU’s democratic order founded on the rule of law.This study investigates how the use of AI systems to augment supervisory decision-making may impact EU fundamental rights, particularly the right to good administration. To this end, we first define the notion of good administration in the context of banking supervision, and explore what it entails for the ECB from legal and ethical perspectives. We then analyse the potential implications of AI-enhanced banking supervision for good administration and examine how the latter may inform the integration of AI/ML into supervisory processes and procedures.Drawing inspiration from the proposed EU AI Act, we develop a normative framework for regulating AI systems based on specific risks to good administration associated with different applications. Our framework prioritises transparency, auditability and accountability requirements to ensure that future AI-driven banking supervision is aligned with the principles of good administration. Overall, this study contributes to the growing literature on the legal implications of AI and ML adoption by financial supervisors, underscoring the importance of a balanced approach that upholds fundamental rights while harnessing the benefits of technological progress

     
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    Schriftenreihe: European Banking Institute Working Paper Series 2023 - ; no. 140
    Schlagworte: artificial intelligence; machine learning; banking supervision; ECB; EU administrative law; good administration; fundamental rights; judicial review
    Weitere Schlagworte: Array
    Umfang: 1 Online-Ressource (70 p)
    Bemerkung(en):

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 27, 2023 erstellt
  9. Measuring the cost of equity of euro area banks
    Autor*in: Altavilla, Carlo; Bochmann, Paul Martin; Ryck, Jeroen De; Dumitru, Ana-Maria; Grodzicki, Maciej; Kick, Heinrich; Fernandes, Cecilia Melo; Mosthaf, Jonas; O'Donnell, Charles; Palligkinis, Spyros
    Erschienen: [January 2021]
    Verlag:  European Central Bank, Frankfurt am Main, Germany

    The cost of equity for banks equates to the compensation that market participants demand for investing in and holding banks’ equity, and has important implications for the transmission of monetary policy and for financial stability. Notwithstanding... mehr

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
    Fernleihe:
    uneingeschränkte Fernleihe, Kopie und Ausleihe

     

    The cost of equity for banks equates to the compensation that market participants demand for investing in and holding banks’ equity, and has important implications for the transmission of monetary policy and for financial stability. Notwithstanding its importance, the cost of equity is unobservable and therefore needs to be estimated. This occasional paper provides estimates of the cost of equity for listed and unlisted euro area banks using a three-step methodology. In the first step, ten different models are estimated. In the second step, the models' results are combined applying an equal-weighting procedure. In the third step, the combined costs of equity for individual banks are aggregated at the euro area level and according to banks' business models. The results suggest that, since the Great Financial Crisis of 2007-08, the premia that investors demand to compensate them for the risk they bear when financing banks' equity has been persistently higher than the return on equity (ROE) generated by banks. We show that our estimates of cost of equity have plausible relationships to banks' fundamentals. The cost of equity tends to be higher for banks that are riskier (higher non-performing loan ratios), less efficient (higher cost-to-income ratio), and with more unstable funding sources (higher relative reliance on interbank deposits). Finally, we use bank fundamentals to estimate the cost of equity for unlisted banks. In general, unlisted banks are found to have a somewhat lower cost of equity compared to listed banks, with business model characteristics accounting for part of the estimated difference.

     
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Staatsbibliothek zu Berlin
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789289945103
    Weitere Identifier:
    hdl: 10419/234495
    Schriftenreihe: Occasional paper series / European Central Bank ; no 254 (January 2021)
    Schlagworte: : cost of equity; monetary policy; financial stability; banking supervision
    Umfang: 1 Online-Ressource (circa 57 Seiten), Illustrationen
  10. The reverse revolving door in the supervision of European banks
    Autor*in: Colonnello, Stefano; Koetter, Michael; Sclip, Alex; Wagner, Konstantin
    Erschienen: December 2023
    Verlag:  Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, Halle (Saale), Germany

    We show that around one third of executive directors on the boards of national supervisory authorities (NSA) in European banking have an employment history in the financial industry. The appointment of executives without a finance background... mehr

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    Universitäts- und Landesbibliothek Sachsen-Anhalt / Zentrale
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    eBook
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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 13
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    We show that around one third of executive directors on the boards of national supervisory authorities (NSA) in European banking have an employment history in the financial industry. The appointment of executives without a finance background associates with negative valuation effects. Appointments of former bankers, in turn, spark positive stock market reactions. This „proximity premium“ of supervised banks is a more likely driver of positive valuation effects than superior financial expertise or intrinsic skills of former executives from the financial industry. Prior to the inception of the European Single Supervisory Mechanism, the presence of former financial industry executives on the board of NSA associates with lower regulatory capital and faster growth of banks, pointing to a more lenient supervisory style.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
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    Weitere Identifier:
    hdl: 10419/281191
    Schriftenreihe: IWH discussion papers ; 2023, no. 25 (December 2023)
    Schlagworte: banking supervision; conflicts of interest; revolving door
    Umfang: 1 Online-Ressource (III, 70 Seiten, 1,15 MB), Diagramme
    Bemerkung(en):

    Literaturverzeichnis: Seite 30-32