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Corporate Structures, Transparency and Resolvability of Global Systemically Important Banks

Jacopo Carmassi and Richard J. Herring
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Jacopo Carmassi: University LUISS Guido Carli
Richard J. Herring: University of PA

Working Papers from University of Pennsylvania, Wharton School, Weiss Center

Abstract: Before the global 2008 financial crisis, most officials appeared not to have anticipated the problems that would need to be addressed if a large cross-border bank should need to be resolved. During and after the financial crisis, this issue surged to the top of the policy agenda. Events made clear that several institutions had become too big and too complex to fail: new rules were needed to make resolution of global banks possible, without cost to taxpayers or damaging spillovers to the economy. After the crisis, the G-20 gave the Financial Stability Board (FSB) a mandate to identify Global Systemically Important Banks (G-SIBs) and to ensure that each had a credible recovery and resolution plan. This study investigates the complexity of the 29 institutions that have been designated as G-SIBs in 2013.

New Economics Papers: this item is included in nep-cba and nep-ger
Date: 2015-06
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