Beyond the 3rd Pillar of Basel 2: Using Bond Market Signals for Supervisory Purposes

Au-delà du 3e pilier de Bâle 2: l’intégration des signaux de marché dans la supervision bancaire

Adrian Pop ()
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Adrian Pop: Nantes Univ - IAE Nantes - Nantes Université - Institut d'Administration des Entreprises - Nantes - Nantes Université - pôle Sociétés - Nantes Univ - Nantes Université

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Abstract: The logic behind the indirect channel of market discipline presumes that the pricing of bank debt in the secondary market, if accurate, conveys to supervisor and other market participants a reliable signal of bank's financial conditions and default risk. The article presents an overview of the main empirical studies analyzing the disciplinary role of the bank debt market and resumes our own findings on the indirect channel's effectiveness in Europe.

Date: 2007-07
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Published in Bankers, Markets & Investors (ex Banque et Marchés), 2007, 89, pp.16-28

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04212802

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