How Technological Innovation Will Reshape Financial Regulation

Carmelo Salleo

Chapter 20 in Achieving Financial Stability:Challenges to Prudential Regulation, 2017, pp 279-291 from World Scientific Publishing Co. Pte. Ltd.

Abstract: After the wave of innovation of the Nineties brought about by progress in IT and financial modeling, many think that we are on the verge of another wave of transformational innovation (see e.g., Brainard, 2016). The subprime crisis, which was spurred by, among many factors, developments in securitization not matched by analogous progress with regulation, left a bad taste for many. However, we should also recognize that over the same time period, innovation was also beneficial for many consumers: for example, securitizations in Europe were made mostly with loans extended to prime borrowers had very low default rates and seemingly did not induce risk-shifting behavior by banks (Albertazzi et al., 2015)…

Keywords: Money and Banking; International Banking; Financial Instititions; Banks; Regulations; Compliance; Financial Crisis; Great Financial Crisis 2008; Microprudential; Macroprudential; Financial Stability (search for similar items in EconPapers)
JEL-codes: E50 (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789813223400_0020 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789813223400_0020 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789813223400_0020

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().