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1、Chapter18 BankingRegulationPREVIEWAswehaveseeninthepreviouschapters,thefinancialsystemisamongthemostheavilyregulatedsectorsoftheeconomy,andbanksareamongthemostheavilyregulatedoffinancialinstitutions.Inthischapter,wedevelopaneconomicanalysisofwhyregulat
2、ionofbankingtakestheformitdoes.Thereareeightbasiccategoriesofbankingregulation:1.thegovernmentsafetynet,2.restrictionsonbankassetholdings,3.capitalrequirements,4.charteringandbankexamination,5.assessmentofriskmanagement,6.disclosurerequirements,7.consu
3、merprotection,8.restrictionsoncompetition.HowAsymmetricInformation ExplainsBankingRegulationPreventsbankrunsduetoasymmetricinfo:depositorscan'ttellgoodfrombadbanksCreatesmoralhazardincentivesforbankstotakeontoomuchriskCreatesadverseselectionproblemofcr
4、ooks骗子andrisk-takerswantingtocontrolbanksToo-Big-to-FailincreasemoralhazardincentivesforbigbanksandisunfairFinancialconsolidation1.GovernmentSafetyNetandDepositInsuranceasymmetricinformationproblemleadstotworeasonswhythebankingsystemmightnotfunctionwel
5、l.First,abankfailure银行破产meantthatdepositorswouldhavetowaittogettheirdepositfundsuntilthebankwasliquidated清算(untilitsassetshadbeenturnedintocash);atthattime,theywouldbepaidonlyafractionofthevalueoftheirdeposits.Secondisthatdepositors’lackofinformationab
6、outthequalityofbankassetscanleadtobankpanics银行恐慌,which,aswesawinChapter8,canhaveseriousharmfulconsequencesfortheeconomy.“sequentialserviceconstraint”按序服务原则contagioneffect传染效应“sequentialserviceconstraint”按序服务原则contagioneffect传染效应Agovernmentsafetynetford
7、epositorscanshort-circuitrunsonbanksandbankpanics,andbyprovidingprotectionforthedepositor,itcanovercomereluctancetoputfundsinthebankingsystem.Oneformofthesafetynetisdepositinsurance,aguaranteesuchasthatprovidedbytheFederalDepositInsuranceCorporation(FD
8、IC)intheUnitedStatesinwhichdepositorsarepaidoffinfullonthefirst$100,000theyhavedepositedinthebanknomatterwhathappenstothebank.theFDICwasestablishedin1934theFDICwasestablishedin1934TheFDICusestwoprimarymethodstohandleafailedbank.Inthefir
