Governance of International Banking : The Financial Trilemma

La 4e de couverture indique : "In the aftermath of the financial crisis, the business model of international banks is under pressure. Regulators across the world are retrenching to national lines by applying restrictions on cross-border banking. Applying game theory, this book develops a model of the financial trilemma to understand the co-ordination failure among regulators. It also provides governance solutions to overcome this co-ordination failure. The goal is to offer a long-term perspective on international banking for regulators and academics. The book combines academic insights and policy issues." Cover 1 Contents 6 List of Figures 8 List of Tables 10 Preface 12 Acknowledgments 14 Abbreviations 16 Introduction 18 1. Governance Challenges for Global Finance 26 1.1. Governance Challenges 28 1.2. International Policy Proposals 32 1.3. Conclusion 41 2. The Financial Trilemma: Theory 43 2.1. Policy Coordination 45 2.2. Modeling the Financial Trilemma 49 2.3. Conclusion 57 3. The Rise of International Banking 59 3.1. Strategy and Business Models 61 3.2. Empirical Evidence on International Banking 71 3.3. Financial Safety Net 90 3.4. Conclusion 92 4. Failing the Financial Trilemma 93 4.1. Potential for Conflicts of Interests 94 4.2. Case Studies of International Bank Failures 97 4.3. Conclusion 112 5. Solving the Financial Trilemma 115 5.1. International Coordination 118 5.2. Comparing Coordination Mechanisms 128 5.3. Containing Moral Hazard 133 5.4. No Coordination 136 5.5. Conclusion 138 6. Political Economy 140 6.1. Key Role of Politicians 141 6.2. Position of Supervisors and Banks 145 6.3. Countries Take Different Approaches 147 6.4. Conclusion 153 Appendix: Burden Sharing after a Nuclear Incident 153 7. Global Governance 155 7.1. Framework for Governance 157 7.2. European Governance 163 7.3. Global Governance 169 7.4. Conclusion 176 Summary and Conclusions 178 Bibliography 184 Index 192 A 192 B 192 C 193 D 194 E 195 F 196 G 197 H 198 I 198 J 199 K 199 L 200 M 200 N 201 O 201 P 201 Q 201 R 201 S 202 T 202 U 203 V 203 W 203 Global governance of international banks is breaking down after the Great Financial Crisis, as national regulators are withdrawing on their home turf. New evidence presented illustrates that the global systemically important banks underpin the global financial system. This book offers solutions for the effective governance of global banks.