Cross-Border Banking: Regulatory Challenges

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Cross-Border banking, while having the potential for a more efficient financial sector, also creates potential challenges for bank supervisors and regulators. It requires cooperation by regulatory authorities across jurisdictions and a clear delineation of authority and responsibility. That delineation is typically not present and regulatory authorities often have significantly different incentives to respond when cross-border-active banks encounter difficulties. Most of these issues have only begun to be seriously evaluated.

This volume, one of the first attempts to address these issues, brings together experts and regulators from different countries. The wide range of topics discussed include: the current landscape of cross-border bank activity, the resulting competitive implications, emerging challenges for prudential regulation, safety net concerns, failure resolution issues, and the potential future evolution of international banking.

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Product Details

Table of Contents

Acknowledgements     v
Preface     vii
Special Addresses
Cross-Border Banking: Forces Driving Change and Resulting Regulatory Challenges   Michael H. Moskow     3
Cross-Border Banking and the Challenges Faced by Host Country Authorities   Guillermo Ortiz     11
Remarks on Cross Border Banking: Regulatory Challenges   Eugene A. Ludwig     21
Regulatory Challenges: The Road Ahead   Nicholas Le Pan     29
Comments on Cross-Border Banking: Regulatory Challenges   Howard Davies     39
Survey of the Current Landscape
European Banking Integration and the Societas Europaea: From Host-Country to Home-Country Control   Jean Dermine     49
Risks in U.S. Bank International Exposures   Nicola Cetorelli   Linda S. Goldberg     65
Cross-Border Banking in Asia: Basel II and Other Prudential Issues   Stefan Hohl   Patrick McGuire   Eli Remolona     87
Discussion of the Session "Survey of the Current Landscape"   Philipp Hartmann     109
Competitive Implications
Why is Foreign Bank Penetration So Low in Developed Nations?   Allen N. Berger     125
Competitive Implications of Cross-Border Banking   Stijn Claessens     151
BankConcentration and Credit Volatility   Alejandro Micco   Ugo Panizza     183
Cross-Border Banking - Regulatory Challenges: Comments   John H. Boyd     199
Prudential Regulation Issues
Home and Host Supervisors' Relations from a Host Supervisor's Perspective   Piotr Bednarski   Grzegorz Bielicki     211
Basel II Home Host Issues   Patricia Jackson     231
Basel II and Home versus Host Regulation   Giovanni Majnoni   Andrew Powell     241
Comments on Jackson, Bielicki and Bednarski, and Majnoni and Powell   Joao A. C. Santos     259
Market Discipline Issues
Confronting Divergent Interests in Cross-Country Regulatory Arrangements   Edward J. Kane     265
Market Discipline Issues and Cross-Border Banking: A Nordic Perspective   Thorvald Grung Moe     287
Cross-Border Banking, Market Discipline and the Ability to Stand Alone   Juan Pablo Graf   Pascual O'Dogherty     307
Market Discipline Issues Associated with Cross-Border Banking   Douglas D. Evanoff     323
Safety Net Issues
Challenges for Deposit Insurance and Financial Stability in Cross-Border Banking Environments with Emphasis on the European Union   Robert A. Eisenbeis   George G. Kaufman     331
The Lender of Last Resort in the European Single Financial Market   Garry J. Schinasi   Pedro Gustavo Teixeira     349
Payment Systems and the Safety Net: The Role of Central Bank Money and Oversight   Jeff Stehm     373
Designing a Bank Safety Net: Regulatory Challenges for Cross-Border Banking   Asli Demirguc-Kunt     389
Insolvency Resolution Issues
Banking in a Changing World: Issues and Questions in the Resolution of Cross-Border Banks   Michael Krimminger     401
Bank Insolvency Procedures as Foundation for Market Discipline   Apanard Angkinand   Clas Wihlborg     423
Policy Panel: Where to from Here?
Comments on Cross-Border Banking: Regulatory Challenges   Cesare Calari     447
Where to from Here?: Comments   Christine Cumming     453
Designing the Home-Host Relationship to Support in Good Times and Bad: Trans-Tasman Developments   Adrian Orr     461
An Overview of Cross-Border Bank Policy Issues   Eric Rosengren     465
Index     473
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