The Economics of Capital Regulation in Financial Conglomerates
AbstractFinancial conglomerates combine banking, insurance and other financial services within a single corporation. In this non-technical paper I consider the rationale for capital regulation in such firms and I examine some current policy questions in the light of this discussion. My first conclusion is that the different institutional structure of bank and insurance companies mitigates against harmonisation of capital requirements across different conglomerate businesses. I also question the received industry view that regulators should account for diversification effects at the holding company level.
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Bibliographic InfoPaper provided by Oxford Financial Research Centre in its series OFRC Working Papers Series with number 2002fe08.
Date of creation: 2002
Date of revision:
Other versions of this item:
- Alan D. Morrison, 2003. "The Economics of Capital Regulation in Financial Conglomerates," The Geneva Papers on Risk and Insurance, The International Association for the Study of Insurance Economics, vol. 28(3), pages 521-533, 07.
- NEP-ALL-2003-06-04 (All new papers)
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- Mälkönen , Ville, 2004. "Capital adequacy regulation and financial conglomerates," Research Discussion Papers 10/2004, Bank of Finland.
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