Policy Responses during the Depth of the 2007- 09 Financial Crisis: Instrument Innovations, Executive Reconfigurations, and Legacies for U.S. Governance
|Year of publication:||
|Authors:||Furstenberg, George M. von|
|Institutions:||Center for Applied Economics and Policy Research (CAEPR), Department of Economics|
The failure of large, complex and interconnected banks has severe consequences to the real economy. To address the challenges posed by globally systemically important banks (G-SIBs), the Basel Committee on Banking Supervision recommended an “additional loss absorbency requirement” for these institutions. Motivated by this instrument of macroprudential regulation, which reflects concern over ...
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