Procyclicality, Bank Lending, and the Macroeconomic Implications of a Revised Basel Accord

Kevin T. Jacques

The Financial Review, 2010, vol. 45, issue 4, 915-930

Abstract: Bank regulators are in the process of implementing revised regulatory capital standards. However, the macroeconomic effects of a revised Basel Accord are uncertain. Examining the various channels through which the revised Accord may influence economic output suggests that making the buffer stock of capital positively related to the business cycle is necessary to reduce procyclicality. This can be accomplished by bank regulators using either enhanced supervisory powers or increased financial disclosure.

Date: 2010
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