Les fonds propres bancaires au cœur de la crise financière

The subprime crisis revealed grave deficiencies in the prudential regulation of banks. This crisis underlines the need for strengthening the equity of stockholders for banks. The increase of systemic risk necessitates a macrosupervision that must be complemented by a microsupervision of these banks as well as the stockholders. However, strengthening the equity can result in increasing dependence on foreign capital. The reaction to these challenges requires not only new regulations for shareholders? equity but also a greater integral role by the State and supervisors in a new style of bank governance.