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Die Vermeidung von Bank Runs und der Erhalt von Marktdisziplin: Das Dilemma der Bankenregulierung?


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  • Günther, Susanne
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    Das Vertrauen privater Einleger in ihre Banken spielt eine wichtige ökonomische und regulatorische Rolle, da sein Verlust Systeminstabilität herbeiführen kann. Die Vermeidung von Bank Runs ist die Intention von Einlagensicherungssystemen. Im deutschen Bankensystem werden Einleger durch zwei unterschiedliche Konzepte abgesichert: Zum einen durch die Einlagen- und zum anderen durch die Institutssicherung. Erstere soll den Erhalt von 100.000 Euro im Falle einer Bankeninsolvenz sicherstellen, während letztere 100 Prozent des bei einer Bank gehaltenen Vermögens sichern und genau genommen den Insolvenzfall selbst vermeiden soll. In der Theorie führt eine solche Absicherung zu einem erheblichen Verlust an Marktdisziplin. Dieses Arbeitspapier identifiziert Unterschiede im Bankkundenverhalten unter Berücksichtigung dieser unterschiedlichen Sicherungskonzepte und unterschiedlicher Fälligkeiten der Bankpassiva, zum einen Sicht- und Spareinlagen und zum anderen Inhaberschuldverschreibungen. Darüber hinaus stellt sich ein begründeter Verdacht heraus, dass sowohl das Geschäftsmodell als auch die Größe einer Bank eine wichtige Vertrauenskomponente darstellen. Diese beruht vermutlich auf der Annahme impliziter Staatsgarantien. -- The trust in banks by private depositors plays an important economic and regulatory role, since they have the power to destabilize financial systems by bank runs. In order to prevent such runs, deposit insurance systems are widely introduced. With regard to the German banking system, deposits, or to be more precise, sight and saving deposits are covered by two different concepts: The deposit and the institute insurance concept. The former one protects 100.000 Euro of each private depositor in case of a bank's liquidation, whereas the latter one is supposed to guarantee 100 percent of private wealth hold at credit institutes. In the strict sense, it is supposed to prevent bankruptcy. In theory, these insurances lead to a deficit in depositors' market discipline. This Working Paper reveals differences between the behaviour of bank clients referring to these diverse systems, and to different maturities, i.e. sight and saving deposits comparing to bearer bonds. Furthermore, there is a reasonable suspicion that a bank's size plays an important role for trust, independent of the insurance concept, probably assuming implicit government guarantees.

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    Paper provided by Westfälsche Wilhelms-Universität Münster (WWU), Institut für Genossenschaftswesen in its series Arbeitspapiere with number 142.

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    Date of creation: 2014
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    Handle: RePEc:zbw:wwuifg:142

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