The Risky Business of Ring-Fencing

Ervin, D. Wilson

doi:10.2139/ssrn.3085649

SSRN Journal

2017

DOI: 10.2139/ssrn.3085649

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The Risky Business of Ring-Fencing

D. Wilson Ervin

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2018

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Bank Resolution and the Structure of Global Banks

Bolton

Oehmke

2018

SSRN Journal

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We study the resolution of global banks by national regulators. Single-point-of-entry (SPOE) resolution, where loss-absorbing capital is shared across jurisdictions, is efficient but faces implementation constraints. First, when expected transfers across jurisdictions are too asymmetric, national regulators fail to set up SPOE resolution ex ante. Second, when required ex post transfers are too large, national regulators ring-fence assets instead of cooperating in SPOE resolution. In this case, a multiple-point-of-entry (MPOE) resolution, where loss-absorbing capital is preassigned, is more robust. Our analysis highlights a fundamental link between efficient bank resolution, the operational structures, risks, and incentives of global banks. (JEL G21, G28, G33)

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Bank Resolution and the Structure of Global Banks

Bolton

Oehmke

2018

SSRN Journal

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The Economic Consequences of Regulatory Protection & Extraterritorial Reach

Thakor

2018

SSRN Journal

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The Risky Business of Ring-Fencing

Cited by 2 publications

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Bank Resolution and the Structure of Global Banks

Bank Resolution and the Structure of Global Banks

The Economic Consequences of Regulatory Protection & Extraterritorial Reach

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