IDEAS home Printed from https://ideas.repec.org/a/ces/ifosdt/v62y2009i15p3-18.html
   My bibliography  Save this article

Drohende Kreditklemme : sollten die Basel-II-Regeln überholt oder zeitweise ausgesetzt werden?

Author

Listed:
  • Martin Hellwig
  • Martin Faust
  • Hans-Peter Burghof
  • Mario Ohoven
  • Christoph Schalast

Abstract

Im Gefolge der Finanzkrise werden Forderungen nach einer Reform oder sogar einer zeitlichen Aussetzung von Basel II laut. Kritisiert wird vor allem die systemimmanente Prozyklizität. Ist dieser Mechanismus mitverantwortlich für die bestehende oder vermeintliche Kreditklemme? Martin Hellwig vermisst bei dem derzeit praktizierten System der Eigenkapitalregulierung von Banken die konzeptionelle Grundlage. Die intendierte Wirkungsweise sei nie dargelegt worden. Tatsächlich habe die Eigenkapitalregulierung in der Krise als »Brandbeschleuniger und nicht als Feuerlöscher« gewirkt und sollte »grundlegend umgebaut oder abmontiert« werden. Für Martin Faust sind Basel I und Basel II nicht die alleinige Ursache für eine Kreditklemme, sie haben jedoch die Entwicklung, die dazu geführt hat, begünstigt. Die Antwort auf die aktuelle Krise solle daher nicht die Aufweichung der Basel-II-Regeln, z.B. bei der Akzeptanz von Eigenkapitalbestandteilen, sein, sondern eine grundlegende Reform. Auch Hans-Peter Burghof sieht viele Gründe, die Baseler Regeln zu überarbeiten. Denn diese Regeln seien »ein höchst unvollkommener Kompromiss zwischen dem aus Sicht der Theorie Erstrebenswerten und dem in der Praxis Machbaren«. Aussetzen solle man die Baseler Normen aber nicht, da eine unzureichende Eigenkapitalregulierung gefährlich sei und Banken ohne ausreichende Eigenkapitalausstattung ein Systemrisiko darstellen. Mario Ohoven führt die Kreditklemme auf ein Regulierungsversagen zurück. Basel II verzerre die Kreditmärkte, weil es Kredite und Verbriefungen ungleich behandle. Das Regelwerk müsse durch Basel III ersetzt werden, damit sich die Kreditversorgung des Mittelstands nicht weiter verschlechtere. Christoph Schalast findet derzeit kaum überzeugende Argumente für ein Aussetzen von Basel II. Vielmehr könnte eine solche Maßnahme das gerade wieder entstehende Vertrauen in die und in der Finanzindustrie erschüttern.

Suggested Citation

  • Martin Hellwig & Martin Faust & Hans-Peter Burghof & Mario Ohoven & Christoph Schalast, 2009. "Drohende Kreditklemme : sollten die Basel-II-Regeln überholt oder zeitweise ausgesetzt werden?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 62(15), pages 3-18, August.
  • Handle: RePEc:ces:ifosdt:v:62:y:2009:i:15:p:3-18
    as

    Download full text from publisher

    File URL: https://www.ifo.de/DocDL/ifosd_2009_15_1.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Mathias Dewatripont & Jean Tirole, 1994. "The prudential regulation of banks," ULB Institutional Repository 2013/9539, ULB -- Universite Libre de Bruxelles.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Andreas Horsch & Lars Rentsch & Enrico Seidel, 2019. "Supply Chain Finance für KMU," ZfKE – Zeitschrift für KMU und Entrepreneurship, Duncker & Humblot, Berlin, vol. 67(1), pages 81-89.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Harald Benink & Jón Daníelsson & Ásgeir Jónsson, 2008. "On the Role of Regulatory Banking Capital," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 17(1), pages 85-96, February.
    2. Urs W. Birchler & Diana Hancock, 2003. "What does the yield on subordinated bank debt measure?," Finance and Economics Discussion Series 2004-19, Board of Governors of the Federal Reserve System (U.S.).
    3. Stijn Claessens & M. Ayhan Kose, 2013. "Financial Crises: Explanations, Types and Implications," CAMA Working Papers 2013-06, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    4. Fidrmuc, Jarko & Lind, Ronja, 2020. "Macroeconomic impact of Basel III: Evidence from a meta-analysis," Journal of Banking & Finance, Elsevier, vol. 112(C).
    5. Engel, Charles, 2016. "Macroprudential policy under high capital mobility: policy implications from an academic perspective," Journal of the Japanese and International Economies, Elsevier, vol. 42(C), pages 162-172.
    6. Kollmann, Robert & Enders, Zeno & Müller, Gernot J., 2011. "Global banking and international business cycles," European Economic Review, Elsevier, vol. 55(3), pages 407-426, April.
    7. Hajime Tomura, 2010. "Liquidity Transformation and Bank Capital Requirements," Staff Working Papers 10-22, Bank of Canada.
    8. Jean-Charles Rochet, 2003. "Réglementation prudentielle et discipline de marché," Revue d'Économie Financière, Programme National Persée, vol. 73(4), pages 201-212.
    9. Dimson, Elroy & Marsh, Paul, 1997. "Stress tests of capital requirements," Journal of Banking & Finance, Elsevier, vol. 21(11-12), pages 1515-1546, December.
    10. Decamps, Jean-Paul & Rochet, Jean-Charles & Roger, Benoit, 2004. "The three pillars of Basel II: optimizing the mix," Journal of Financial Intermediation, Elsevier, vol. 13(2), pages 132-155, April.
    11. Chau H. A. Le, 2016. "Macro-financial linkages and bank behaviour: evidence from the second-round effects of the global financial crisis on East Asia," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 6(3), pages 365-387, December.
    12. Roland Strausz & Katrin Burkhardt, "undated". "The Effect of Fair vs. Book Value Accounting on the Behavior of Banks," Papers 024, Departmental Working Papers.
    13. Budnik, Katarzyna & Bochmann, Paul, 2017. "Capital and liquidity buffers and the resilience of the banking system in the euro area," Working Paper Series 2120, European Central Bank.
    14. Freixas, Xavier & Rochet, Jean-Charles, 1998. "Fair pricing of deposit insurance. Is it possible? Yes. Is it desirable? No," Research in Economics, Elsevier, vol. 52(3), pages 217-232, September.
    15. Augusto de la Torre & Alain Ize, 2010. "Containing Systemic Risk: Paradigm-Based Perspectives on Regulatory Reform," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Fall 2010), pages 25-64, August.
    16. Saoussen Ben Gamra & Dominique Plihon, 2007. "Qualité Des Institutions, Libéralisation Et Crises Bancaires Le Cas Des Pays Émergents," Working Papers hal-00574136, HAL.
    17. Becht, Marco & Bolton, Patrick & Roell, Ailsa, 2003. "Corporate governance and control," Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 1, pages 1-109, Elsevier.
    18. Correa, Patricia & Brock, Philip, 2005. "Comments," LSE Research Online Documents on Economics 123175, London School of Economics and Political Science, LSE Library.
    19. Miguel Boucinha & Carlo Altavilla & Frank Smets & José-Luis Peydró, 2019. "Banking Supervision, Monetary Policy and Risk-Taking: Big Data Evidence from 15 Credit Registers," Working Papers 1137, Barcelona School of Economics.
    20. Gersbach, Hans, 2003. "The Optimal Capital Structure of an Economy," CEPR Discussion Papers 4016, C.E.P.R. Discussion Papers.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ces:ifosdt:v:62:y:2009:i:15:p:3-18. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Klaus Wohlrabe (email available below). General contact details of provider: https://edirc.repec.org/data/ifooode.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.