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Some Economics of Banking Reform

Author

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  • John Vickers

    () (All Souls College, Oxford University)

Abstract

Where do we stand, five years on from the start of the crisis, on progress towards banking reform? Following a stock-take of current reform initiatives, the paper reviews some economics of public policy towards banks, in particular capital requirements and the role of structural regulation in making banking systems safer. Forms of separation between retail and investment banking are compared, notably ring-fencing and complete separation. The paper concludes with reflections on the wider European policy debate following the Liikanen Report. A central theme is that banking reform needs a welldesigned combination of policies towards loss-absorbency and structural reform

Suggested Citation

  • John Vickers, 2012. "Some Economics of Banking Reform," Rivista di Politica Economica, SIPI Spa, issue 4, pages 11-35, October-D.
  • Handle: RePEc:rpo:ripoec:y:2012:i:4:p:11-35
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    References listed on IDEAS

    as
    1. David Miles & Jing Yang & Gilberto Marcheggiano, 2013. "Optimal Bank Capital," Economic Journal, Royal Economic Society, vol. 123(567), pages 1-37, March.
    2. Douglas W. Diamond & Philip H. Dybvig, 2000. "Bank runs, deposit insurance, and liquidity," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Win, pages 14-23.
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    Citations

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    Cited by:

    1. Leonardo Gambacorta & Adrian van Rixtel, 2013. "Structural bank regulation initiatives: approaches and implications," BANCARIA, Bancaria Editrice, vol. 6, pages 14-27, June.
    2. Malgorzata Pawlowska, 2015. "Changes in the size and structure of the European Union banking sector-the role of competition between banks," NBP Working Papers 205, Narodowy Bank Polski, Economic Research Department.
    3. Tatiana Gaelle Yongoua Tchikanda, 2017. "Systemic risk and individual risk: A trade-off?," EconomiX Working Papers 2017-16, University of Paris Nanterre, EconomiX.
    4. Musgrave, Ralph S., 2014. "Sir John Vickers backs maturity transformation and opposes full reserve banking," MPRA Paper 59600, University Library of Munich, Germany.
    5. Giuseppe Mastromatteo & Giuseppe Mastromatteo, 2016. "Minsky at Basel: A Global Cap to Build an Effective Postcrisis Banking Supervision Framework," Economics Working Paper Archive wp_875, Levy Economics Institute.
    6. repec:eee:joecas:v:14:y:2016:i:pa:p:112-127 is not listed on IDEAS

    More about this item

    Keywords

    banking; bail-outs; capital requirements; deposit guarantees; Glass-Steagall; resolution; ring-fencing; structural reform; Volcker rule;

    JEL classification:

    • 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
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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