Banking-on-the-Average Rules

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2019
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Gersbach, Hans
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CESifo Economic Studies. Oxford University Press (OUP). 2019, 65(2), pp. 131-153. ISSN 1610-241X. eISSN 1612-7501. Available under: doi: 10.1093/cesifo/ify023
Zusammenfassung

In this article, we introduce a new way to determine requirements for bank capital: banking-on-the-average rules. Under these rules, a bank’s required level of equity capital is monotonically increasing in the realized equity capital of its peers. In a simple model, we illustrate the workings of banking-on-the-average rules. We show that in booms, these rules can prevent banks from taking excessive risks. Moreover, they alleviate the socially harmful procyclicality of conventional equity-capital rules, which may induce banks to cut back excessively on lending. Finally, we argue that under these rules, prudent banks can impose prudence on other banks. In addition, banking-on-the-average rules ensure the build-up of bank equity capital in booms and thus avoid excessive leverage.

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ISO 690GERSBACH, Hans, Volker HAHN, 2019. Banking-on-the-Average Rules. In: CESifo Economic Studies. Oxford University Press (OUP). 2019, 65(2), pp. 131-153. ISSN 1610-241X. eISSN 1612-7501. Available under: doi: 10.1093/cesifo/ify023
BibTex
@article{Gersbach2019Banki-24663.2,
  year={2019},
  doi={10.1093/cesifo/ify023},
  title={Banking-on-the-Average Rules},
  number={2},
  volume={65},
  issn={1610-241X},
  journal={CESifo Economic Studies},
  pages={131--153},
  author={Gersbach, Hans and Hahn, Volker}
}
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