TOO BIG TO FAIL BANKS IN THE AGE OF GLOBALIZATION

Toma Sorin-George and Gradinaru Catalin
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Toma Sorin-George: UNIVERSITY OF BUCHAREST
Gradinaru Catalin: UNIVERSITY OF BUCHAREST

Annals - Economy Series, 2018, vol. SPECIAL, 131-136

Abstract: Since the emergence of the 2007-2008 global financial crisis governments and policy makers have understood the need to identify and implement solutions in order to prevent these crises in the age of globalization. As banks have been seen to be systemically important institutions in a market economy, they have become subject to numerous reglementations during the time. In this respect, the Financial Stability Board published for thefirst time a list of largebanks considered as toobig to fail financial institutions in 2011. The aims of our paper are to address the concept of too big to failand to illustrate its application in the case of the global banking system. To such ends, theauthors used a quantitative research method. The paper demonstrated that the too big to fail concept represents an important topic in the banking world. Also, it showed that there are several global systemically important banks located in Europe, North America and Asia. The financial impact of globalization and the global financial crises are among the major factors that led to the emergence of too big to fail banks.

Keywords: too big to fail; global banking system; globally systemically important banks; Financial Stability Board; globalization (search for similar items in EconPapers)
Date: 2018
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