An important lesson of the global financial crisis was that the Basel II microprudential capital requirements did not ensure financial stability. Another significant lesson was that they even had destabilizing effects by increasing procyclical lending and regulatory arbitrage. These unwanted side-effects include some affecting lending to small and medium enterprises (SMEs), which are particularly important for Europe. Since European economic recovery depends significantly on SMEs performance, this volume tries to analyse the possible economic effects of the Basel III provisions on the stability of their financing. The collected papers highlight the significant improvements introduced in Basel III with respect to the Basel II standard, but it also brings to the fore the weaknesses which continue to characterise the new capital regulatory framework.

Introduzione

Guida R;
2014-01-01

Abstract

An important lesson of the global financial crisis was that the Basel II microprudential capital requirements did not ensure financial stability. Another significant lesson was that they even had destabilizing effects by increasing procyclical lending and regulatory arbitrage. These unwanted side-effects include some affecting lending to small and medium enterprises (SMEs), which are particularly important for Europe. Since European economic recovery depends significantly on SMEs performance, this volume tries to analyse the possible economic effects of the Basel III provisions on the stability of their financing. The collected papers highlight the significant improvements introduced in Basel III with respect to the Basel II standard, but it also brings to the fore the weaknesses which continue to characterise the new capital regulatory framework.
2014
978-88-15-25316-3
Basel rules; SME financing; Bank-firm relationship
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/20.500.12610/16069
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