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The New Basel Capital Accord (Basel II) from a Macroeconomic Point of View

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Listed author(s):
  • Franz R. Hahn

    (WIFO)

Abstract

The current capital accord ("Basel I") has been found inadequate in strengthening the stability of the international banking system. Its undifferentiated and inexact registration of credit risks and the breakneck pace of introducing innovative financial tools have greatly impaired its effectiveness. The new capital proposals prepared by the Basel Committee on Banking Supervision ("Basel II") provide, i.a., for improved methods of risk evaluation, which, however, may trigger undesirable effects at a macroeconomic level. Such effects may reach dimensions that could well endanger the aim of achieving a sustained strengthening of the international financial system.

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Article provided by WIFO in its journal Quarterly.

Volume (Year): 8 (2003)
Issue (Month): 2 (June)
Pages: 51-63

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Handle: RePEc:wfo:wquart:y:2003:i:2:p:51-63
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Keywords: Basel Capital Accord; Supervision; Capital requirement; Austria;

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  1. Heinemann, Friedrich & Schüler, Martin, 2002. "A Stigler View on Banking Supervision," ZEW Discussion Papers 02-66, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  2. Hancock, Diana & Wilcox, James A., 1998. "The "credit crunch" and the availability of credit to small business," Journal of Banking & Finance, Elsevier, vol. 22(6-8), pages 983-1014, August.
  3. Franz R. Hahn, 2002. "The Effects of Bank Capital on Bank Credit Creation. Panel Evidence from Austria," WIFO Working Papers 188, WIFO.
  4. John, Kose & Saunders, Anthony & Senbet, Lemma W, 2000. "A Theory of Bank Regulation and Management Compensation," Review of Financial Studies, Society for Financial Studies, vol. 13(1), pages 95-125.
  5. Maximilian J.B. Hall, 2001. "The basle Committee's proposals for a new capital adequacy assessment framework: a critique," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 54(217), pages 111-179.
  6. Peek, Joe & Rosengren, Eric, 1995. "The Capital Crunch: Neither a Borrower nor a Lender Be," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(3), pages 625-638, August.
  7. Shleifer, Andrei, 2000. "Inefficient Markets: An Introduction to Behavioral Finance," OUP Catalogue, Oxford University Press, number 9780198292272, April.
  8. João A. C. Santos, 2000. "Bank capital regulation in contemporary banking theory: a review of the literature," BIS Working Papers 90, Bank for International Settlements.
  9. Frederic S. Mishkin, 2001. "Prudential Supervision: Why Is It Important and What Are the Issues?," NBER Chapters,in: Prudential Supervision: What Works and What Doesn't, pages 1-30 National Bureau of Economic Research, Inc.
  10. Misa Tanaka, 2002. "How Do Bank Capital and Capital Adequacy Regulation Affect the Monetary Transmission Mechanism?," CESifo Working Paper Series 799, CESifo Group Munich.
  11. Philip Lowe, 2002. "Credit risk measurement and procyclicality," BIS Working Papers 116, Bank for International Settlements.
  12. Yuzo Honda, 2002. "The effects of the Basle accord on bank credit: the case of Japan," Applied Economics, Taylor & Francis Journals, vol. 34(10), pages 1233-1239.
  13. Franz R. Hahn, "undated". "Risk-taking and Solvency Regulation in Banking – A Comment," WIFO Working Papers 157, WIFO.
  14. Con Keating & Hyun Song Shin & Charles Goodhart & Jon Danielsson, 2001. "An Academic Response to Basel II," FMG Special Papers sp130, Financial Markets Group.
  15. Franz R. Hahn, "undated". "Macroprudential Financial Regulation and Monetary Policy," WIFO Working Papers 154, WIFO.
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Cited by:

  1. Michael Böheim, 2011. "Competition policy: ten lessons learnt from the financial crisis," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 38(3), pages 315-330, July.
  2. Franz R. Hahn & Werner Hölzl, 2012. "Effects of the New Capital Requirements of Basel III on the Financing of Small and Medium-sized Enterprises in Austria," Austrian Economic Quarterly, WIFO, vol. 17(3), pages 168-186, August.
  3. Thomas Url, 2010. "Financial Market Crisis: Origin, Short-Term Reaction and Long-Term Adjustment Requirements," Austrian Economic Quarterly, WIFO, vol. 15(1), pages 54-77, April.

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