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Bank Resolution and the Structure of Global Banks
| Content Provider | Semantic Scholar |
|---|---|
| Author | Bolton, Patrick Oehmke, Martin |
| Copyright Year | 2015 |
| Abstract | We study the efficient resolution of global banks in the presence of national regulators. Single-point-of-entry (SPOE) resolution, where loss-absorbing capacity is shared across jurisdictions, is efficient but may not be implementable. First, when expected cross-jurisdiction transfers are too asymmetric, national regulators will not agree to set up an efficient SPOE resolution regime ex ante. Second, when ex-post required transfers across jurisdictions are too large, national regulators choose to ring-fence local banking assets, leading to a breakdown of a planned SPOE resolution. In this case, constrained efficient resolution is achieved through multiple-point-of-entry (MPOE) resolution, where some loss-absorbing capacity is assigned ex ante to national holding companies in each jurisdiction. Our analysis highlights a complementarity between bank resolution and the organizational structure of global banks—the more decentralized a global bank’s operations, the greater the relative efficiency of MPOE |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | https://economics.stanford.edu/sites/default/files/fin_05_17_oehmke.pdf |
| Alternate Webpage(s) | https://www0.gsb.columbia.edu/mygsb/faculty/research/pubfiles/23362/010aSPOE.pdf |
| Alternate Webpage(s) | https://www0.gsb.columbia.edu/faculty/moehmke/papers/BoltonOehmke_BankResolution.pdf |
| Alternate Webpage(s) | http://som.yale.edu/sites/default/files/files/BoltonOehmke_BankResolution.pdf |
| Alternate Webpage(s) | https://www.gsb.stanford.edu/sites/gsb/files/fin_05_17_oehmke.pdf |
| Alternate Webpage(s) | https://workspace.imperial.ac.uk/business-school/Public/research/f_agroup/Oehmke%20abstract.pdf |
| Language | English |
| Access Restriction | Open |
| Subject Keyword | Bank (environment) Complementarity theory Demarcation point Disintegration (morphologic abnormality) Entity Name Part Qualifier - adopted Flow HL7PublishingSubSection |
| Content Type | Text |
| Resource Type | Article |
