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Back to the Future : the Nature of Regulatory Capital Requirements

Author: Ralph Chami; Thomas F Cosimano; Emanuel Kopp; Celine Rochon
Publisher: Washington, D.C. : International Monetary Fund, 2017.
Series: IMF Working Papers; Working Paper, no. 17/181.
Edition/Format:   eBook : Document : International government publication : EnglishView all editions and formats
Summary:
This paper compares the current regulatory capital requirements under the Dodd-Frank Act (DFA) and the 10-percent leverage ratio, as proposed by the U.S. Treasury and the U.S. House of Representatives' Financial CHOICE Act (FCA). We find that the majority of U.S. banks would not qualify for an "off-ramp"option-where regulatory relief is offered to FCA qualifying banks (QBOs)-unless considerable amounts of capital  Read more...
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Additional Physical Format: Print Version:
Chami, Ralph.
Back to the Future: The Nature of Regulatory Capital Requirements.
Washington, D.C. : International Monetary Fund,2017
Material Type: Document, Government publication, International government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Ralph Chami; Thomas F Cosimano; Emanuel Kopp; Celine Rochon
ISBN: 148431381X 9781484313817
OCLC Number: 1043666599
Description: 1 online resource (20 pages).
Series Title: IMF Working Papers; Working Paper, no. 17/181.
Responsibility: Ralph Chami.

Abstract:

This paper compares the current regulatory capital requirements under the Dodd-Frank Act (DFA) and the 10-percent leverage ratio, as proposed by the U.S. Treasury and the U.S. House of Representatives' Financial CHOICE Act (FCA). We find that the majority of U.S. banks would not qualify for an "off-ramp"option-where regulatory relief is offered to FCA qualifying banks (QBOs)-unless considerable amounts of capital are added, and that large banks are much closer to the proposed leverage threshold and, therefore, are more likely to stand to gain from regulatory relief. The paper identifies an important moral hazard problem that arises due to the QBO optionality, where banks are likely to increase the riskiness of their asset portfolio and qualify for the FCA 'off-ramp' relief with unintended effects on financial stability.

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