BASEL III: SOME ECONOMIC AND LEGAL ASPECTS OF COUNTERCYCLICALCAPITAL BUFFERREGULATION
Journal Title: Юридичний науковий електронний журнал - Year 2017, Vol 4, Issue
Abstract
The article is devoted to current economic and legal problems of regulation of the countercyclical capital buffer in the recommendations of the Basel Committee on Banking Supervision. The author carried out an analysis of the specifics of the implementation of the countercyclical buffer, the regulatory intervention on the banking sector in order to reduce the negative consequences of economic cycles and possible problems in the application of a countercyclical buffer. History of Basel regulatory framework, peculiarities of banking supervision and role of the authorities in the macroprudential regulation of financial and banking markets is analyzed. Particular attention is devoted to the regulatory choice of automatic rules versus discretion of the regulators, possible mistakes in the implementation of the countercyclical buffer. Besides, procyclicality of regulatory intervention is evaluated. Possible reasons why regulators fail to address current problems with economic downturns and booms are described. The author suggests how states can mitigate such risks. The main part of the article is the analysis of how countercyclical buffer works: why states intervene, possible size of the buffer, how is it changed, how it affects banks capital and why banks fail to implement countercyclical buffer without state regulation, even though it is beneficial for the well-being of bank. Such analysis is conducted in respect of Ukrainian policy aimed at implementation of Basel III norms, in particular, countercyclical buffer. The author makes own conclusions concerning countercyclical buffer implementation.
Authors and Affiliations
В. Л. , Комзюк
Keywords
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