07571oam 22015254 450 991080909210332120240402045628.01-4755-1198-11-4755-1197-3(CKB)2670000000332688(EBL)1607005(SSID)ssj0001176401(PQKBManifestationID)11720807(PQKBTitleCode)TC0001176401(PQKBWorkID)11138183(PQKB)11184974(Au-PeEL)EBL1607005(CaPaEBR)ebr10629465(OCoLC)811153512(IMF)WPIEE2012233(IMF)WPIEA2012233(MiAaPQ)EBC1607005(EXLCZ)99267000000033268820020129d2012 uf 0engurcnu||||||||txtccrAssessing the Cost of Financial Regulation /Douglas Elliott, Andre Santos1st ed.Washington, D.C. :International Monetary Fund,2012.1 online resource (83 p.)IMF Working PapersDescription based upon print version of record.1-4755-1199-X 1-4755-1083-7 Includes bibliographical references.Cover; Contents; Executive Summary; Introduction; I. Literature Review; II. Qualitative Assessments of the Cost Impact of Regulatory Changes; Tables; 1. Basel III Impact on Credit and GDP Growth; 2. Major Regulatory Initiatives; 3. Impact of Major Regulatory Initiatives on U.S. Financial Institutions; III. Quantitative Analysis of Stand-Alone Reforms; A. Choice of Baseline Scenario; B. Translating Cost Changes to Credit Impacts; C. Estimating Changes to Lending rates; D. Capital Requirements; 4. Pro-forma Basel III Common Equity Tier 1 Capital Ratios by Region, End-2010; Figures1. Effect of Basel III Changes on Common Equity Tier 1 Capital Ratios 5. Planned Mitigating Actions by U.S., European, and Japanese Banks; 6. Pro-forma Basel III Common Equity Tier 1 Capital Ratios by Bank Business; 2. Effect of Basel 2.5 and III on Common Equity Tier Capital Ratios; 7. Effects of Higher Capital Levels on Lending Rates; E. Liquidity Requirements; 8. Pro-forma Basel III Liquidity Ratios, End-2010; 9. Estimated Effects of Liquidity Changes on Lending Rates; F. Derivatives Requirements; 10. Effects of Derivatives Reforms on Banks per Year; G. Securitization Requirements11. Estimated Effects of Derivatives Changes on Lending RatesH. Taxes and Fees; I. Integrated Effects on Credit Provision; 12. Annual Fees and Taxes on European and U.S. Banks; 13. Estimated Effects of Tax and Fee Changes on Lending Rates; 14. Cumulative Impact of Regulatory Reforms on Lending rates; 3. Effects of Changes in Key Parameter Assumptions on Lending Rates; IV. Uncertainties and Areas for Further Research; V. Conclusion; Appendix I. Supplementary Tables; Appendixes; I. Supplementary Tables; 16. European, Japanese, and U.S. Banks in the Sample17. Planned De-Risking Measures, End-2010 Appendix II. Assumptions for the Credit Pricing Equation; II. Assumptions for the Credit Pricing Equation; ReferencesThis study assesses the overall impact on credit of the financial regulatory reforms in Europe, Japan, and the United States. Long-term cost estimates are provided for Basel III capital and liquidity requirements, derivatives reforms, and higher taxes and fees. Overall, average lending rates in the base case would rise by 18 bps in Europe, 8 bps in Japan, and 28 bps in the United States. These results are similar to the official BIS assessments of Basel III and an OECD analysis, but lower as a result of including expense cuts and reductions in the returns required by investors. As a result, they are markedly lower than those of the IIF.IMF Working Papers; Working Paper ;No. 2012/233Financial institutionsLaw and legislationBank capitalLaw and legislationBank loansBanks and BankingimfFinance: GeneralimfMoney and Monetary PolicyimfFinancial Risk ManagementimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfInvestment BankingimfVenture CapitalimfBrokerageimfRatings and Ratings AgenciesimfFinancial Institutions and Services: Government Policy and RegulationimfFinancing PolicyimfFinancial Risk and Risk ManagementimfCapital and Ownership StructureimfValue of FirmsimfGoodwillimfGeneral Financial Markets: Government Policy and RegulationimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfFinancial CrisesimfFinancial services law & regulationimfBankingimfMonetary economicsimfEconomic & financial crises & disastersimfLiquidity requirementsimfBasel IIIimfCreditimfCapital adequacy requirementsimfFinancial regulation and supervisionimfMoneyimfFinancial crisesimfBanks and bankingimfState supervisionimfAsset requirementsimfUnited StatesimfFinancial institutionsLaw and legislation.Bank capitalLaw and legislation.Bank loans.Banks and BankingFinance: GeneralMoney and Monetary PolicyFinancial Risk ManagementBanksDepository InstitutionsMicro Finance InstitutionsMortgagesInvestment BankingVenture CapitalBrokerageRatings and Ratings AgenciesFinancial Institutions and Services: Government Policy and RegulationFinancing PolicyFinancial Risk and Risk ManagementCapital and Ownership StructureValue of FirmsGoodwillGeneral Financial Markets: Government Policy and RegulationMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralFinancial CrisesFinancial services law & regulationBankingMonetary economicsEconomic & financial crises & disastersLiquidity requirementsBasel IIICreditCapital adequacy requirementsFinancial regulation and supervisionMoneyFinancial crisesBanks and bankingState supervisionAsset requirements346.436082Elliott Douglas1684435Santos Andre1617703International Monetary Fund.DcWaIMFBOOK9910809092103321Assessing the Cost of Financial Regulation4055931UNINA