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Banking on Basel
The Future of International Financial Regulation
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- Book details for Banking on Basel
- Daniel K. Tarullo (author)
- Paperback, 224 x 152 x 20mm , 256 pp, graphs, charts, index
- 15 Dec 2008
- The Peterson Institute for International Economics
- 088132423X
- 9780881324235
The aftermath of the 2007 subprime mortgage crisis indicates the need for transformation within the financial regulation market. To what extent will the 2004 Revised Framework on International Convergence of Capital Measurement and Capital Standards (Basel II) symbolize a watershed moment in the international effort toward regulatory convergence? "Banking on Basel" provides an assessment of the implications of Basel II and considers how the lack of a single national policy interest will influence the international dimension of these accords.The author offers a three-point analysis that evaluates domestic bank capital regulation - particularly, minimum capital requirements applicable to large banks - analyzes the dynamics of international coordination, and comparatively measures the alternatives and outcomes of implementation. Ultimately, the balance between regulatory models and the operation of the Basel committee will determine the far-reaching ramifications of Basel II. The volume concludes with recommendations concerning the adoption of a new regulatory regime, as well as the need for changes to both substantive capital rules and institutional mechanisms.
Daniel K. Tarullo is Professor of Law at Georgetown University Law Center. He was a visiting Professor of Law at Harvard Law School (2005) and the Frederick H. Schultz Professor of International Economic Policy at Princeton University (2004). Tarullo held several senior positions in the Clinton administration, ultimately as Assistant to the President for International Economic Policy, responsible for coordinating the international economic policy of the administration. He was a principal on the National Economic Council and the National Security Council. Prior to that, he had been Deputy Assistant to the President for Economic Policy, with special responsibility for regulatory and international issues.
1 Introduction; 2 The Role of Capital Regulation; 3 Basel I; 4 Negotiating Basel II; 5 Assessing Basel II as a Regulatory Model; 6 Basel II as an International Arrangement; 7 Alternatives to Basel II; 8 Conclusions and Recommendations.
