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The Systemic Risk Buffer for UK Banks: A Response to the Bank of England’s Consultation Paper

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  • John Vickers

Abstract

The article responds to the Bank of England’s (BoE) consultation paper of January 2016 on the systemic risk buffer for UK ring-fenced banks. It argues that, contrary to its proposed policy, the BoE should apply the highest permitted buffer rate—3 per cent of risk-weighted assets of common equity—to all large ring-fenced banks. The BoE’s reasons for lowering its estimate of optimal equity capital requirements are assessed critically.

Suggested Citation

  • John Vickers, 2016. "The Systemic Risk Buffer for UK Banks: A Response to the Bank of England’s Consultation Paper," Journal of Financial Regulation, Oxford University Press, vol. 2(2), pages 264-282.
    • Handle: RePEc:oup:refreg:v:2:y:2016:i:2:p:264-282.
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    File URL: http://hdl.handle.net/10.1093/jfr/fjw011
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    Cited by:

    1. Natasha Sarin & Lawrence H. Summers, 2016. "Understanding Bank Risk through Market Measures," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 47(2 (Fall)), pages 57-127.
    2. John Vickers, 2019. "Safer, but Not Safe Enough," JRFM, MDPI, vol. 12(3), pages 1-9, September.
    3. Natasha Sarin & Lawrence H. Summers, 2016. "Understanding Bank Risk through Market Measures," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 47(2 (Fall)), pages 57-127.
    4. Martin Birn & Olivier de Bandt & Simon Firestone & Matías Gutiérrez Girault & Diana Hancock & Tord Krogh & Hitoshi Mio & Donald P. Morgan & Ajay Palvia & Valerio Scalone & Michael Straughan & Arzu Ulu, 2020. "The Costs and Benefits of Bank Capital—A Review of the Literature," JRFM, MDPI, vol. 13(4), pages 1-25, April.

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