资源描述：
《Operational Risk Modelling and Management 2》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。
1、Chapter1IntroductiontoOperationalRisk1.1WhyRegulateBanks?Weposethisquestion,obviously,forthesakeofargument.Atthisjuncture,nothingcanendangertheBasel2effort:“riennevaplus,lesjeuxsontfaits.”Really?In2007AmericanregulatorshaveproposedchangesintheirversionofBasel2thatwilldelayitsimplemen
2、tationuntilatleastJanuary2009.Alas,theaccordintendedasasingleworldwidestandardisthreatenedtobedifferentinEuropeandAmerica.Posner(2004,217),anAmericanjudgeandscholar,says:“Astheworld’smostpowerfulnation,theUnitedStatestendstodominateinternationalorganizations,and,whenitdoesnot,itignor
3、esthemwithimpunity.”Thenthereisthecreditcrisisstartingin2008bringingregulationtothelimelight.TheBaselCommitteeonBankingSupervision(BCBS)statedandre-iteratedasobjectives(BCBS,1988,1)thefollowing:TwofundamentalobjectiveslieattheheartoftheCommittee’sworkonregulatoryconvergence.Theseare
4、,firstly,thatthenewframeworkshouldservetostrengthenthesoundnessandstabilityoftheinter-nationalbankingsystem;andsecondlythattheframeworkshouldbeinfairandhaveahighdegreeofconsistencyinitsapplicationtobanksindifferentcountrieswithaviewtodiminishinganexistingsourceofcompetitiveinequalitya
5、monginternationalbanks.Regulationconsistsofrule-makingandenforcement.Economictheoryofferstwocomplementaryrationalesforregulatingfinancialinstitutions.Altruisticpublic-benefitstheoriestreatgovernmentalrulesasinstrumentsforincreasingfairnessandefficiencyacrosssocietyasawhole.Theyassignregu
6、lationtogovernmentalentitieswhosearchformarketfailuresandcorrectthem.Itistakenforgrantedthatgovernmentsarewell-intentionedtoactforthecommongood(Kane,1997).Agencytheoryrecognisesthatincentiveconflictsandcoordinationprob-lemsariseinmulti-partyrelationshipsandthatregulationintroducesopp
7、or-tunitiestoimposerulesthatenhancethewelfareofonesectorofsocietyattheexpenseofanother.Agencytheoriesportrayregulationasawaytoraise1©2011byTaylorandFrancisGroup,LLC2OperationalRiskModellingandManagementthequalityoffinancialservicesbyimprovingincentivestofulfilcontractualobligationsins
8、tressfulsituations.
