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Die neue Basler Liquiditätsregulierung: Ausgestaltung und Fallstricke

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  • Philipp König
  • David Pothier

Abstract

Following the financial crisis of 2008/09, the Basel Committee on Banking Supervision introduced a new framework for banking regulation, commonly known as Basel III. For the first time since the inception of global bank regulation in 1988, Basel III contains explicit mandatory rules for liquidity regulation. The cornerstones of the new liquidity regulation are two balance sheet ratios that seek to reduce banks’ liquidity transformation. While regulation addressing liquidity risks in the banking sector is clearly desirable, the new rules have several pitfalls. First, two ratios rely on different definitions of liquidity and funding stability which makes the regulatory framework unnecessarily complicated and opaque. Second, it is unclear whether a ratio-based approach is the most effective and efficient way to rectify liquidity problems in the banking sector. Third, it is unclear how the new liquidity rules interact with the existing monetary implementation frameworks of central banks and whether they hamper a smooth steering of policy interest rates. The present report provides an overview of the new liquidity rules and its rationale, and discusses the pitfalls of this new regulation. Nach der Finanzkrise von 2008/2009 erließ der Basler Ausschuss für Bankenaufsicht einen neuen Vorschriftenkatalog zur Bankenregulierung (Basel III). Erstmals seit der Einführung internationaler Standards zur Bankenregulierung im Jahr 1988 werden darin verbindliche Vorgaben zur Liquiditätsregulierung formuliert. Eckpfeiler dieser Regelungen sind zwei Bilanzkennzahlen, mit denen die Liquiditäts- und Fristentransformation der Banken verringert werden soll. Auch wenn eine Regulierung des Liquiditätsrisikos im Bankensektor zu begrüßen ist, so bergen die neuen Vorschriften doch diverse Fallstricke. Erstens beruhen die beiden Kennzahlen auf unterschiedlichen Definitionen von Liquidität und Finanzierungsstabilität; dadurch wird das Regelwerk unnötig kompliziert und intransparent. Zweitens ist fraglich, ob sich Liquiditätsprobleme im Bankensektor mit einem auf Kennzahlen basierenden Ansatz am effektivsten und effizientesten lösen lassen. Drittens können die neuen Liquiditätsvorschriften die Umsetzung der Geldpolitik der Zentralbanken beeinträchtigen und gegebenenfalls einer reibungslosen Steuerung der Leitzinsen im Wege stehen.

Suggested Citation

  • Philipp König & David Pothier, 2016. "Die neue Basler Liquiditätsregulierung: Ausgestaltung und Fallstricke," DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 83(21), pages 475-484.
  • Handle: RePEc:diw:diwwob:83-21-3
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    More about this item

    Keywords

    Liquidity regulation; Basel III; financial intermediation;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • 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

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