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Staaten und Banken – ein konkreter Regulierungsvorschlag

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  • Carl-Christoph Hedrich
  • Dominic Hepp

Abstract

In a monetary union with a single monetary policy and bank supervision but no fiscal union, the interdependence between banks and sovereigns is a sensitive issue. Yet sovereign debt is widely exempt from bank regulation. Many banks in Europe have built up high exposures to EMU member states–which was also in the interest of the governments. The authors present a concrete proposal to break up this nexus. At the core of the approach is a capital adequacy requirement for sovereign debt instruments if certain allowances are exceeded. The authors’ primary objective is not the ultimate calibration of parameters but to provide a basis for discussion about practicable, incentive-compatible regulation. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2015

Suggested Citation

  • Carl-Christoph Hedrich & Dominic Hepp, 2015. "Staaten und Banken – ein konkreter Regulierungsvorschlag," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 95(11), pages 758-765, November.
    • Handle: RePEc:spr:wirtsc:v:95:y:2015:i:11:p:758-765
    DOI: 10.1007/s10273-015-1899-3
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    More about this item

    Keywords

    G21; G28; H63;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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