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Global Governance of Financial SystemsThe International Regulation of Systemic Risk$
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Kern Alexander, Rahul Dhumale, and John Eatwell

Print publication date: 2005

Print ISBN-13: 9780195166989

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780195166989.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 30 October 2020

Reforming the Basel Accord and the Use of Subordinated Debt

Reforming the Basel Accord and the Use of Subordinated Debt

Making Markets Work for the Regulator

(p.227) 9 Reforming the Basel Accord and the Use of Subordinated Debt
Global Governance of Financial Systems

Kern Alexander (Contributor Webpage)

Rahul Dhumale

John Eatwell (Contributor Webpage)

Oxford University Press

This chapter argues that the implementation of subordinated debt and of Basel II could be significant moves toward the goal of enhancing the effectiveness of market discipline. Both proposals would allow for a more accurate pricing risk and an increase in transparency by making more information readily available, and both would also make risk takers more accountable for their activities. The chapter begins by looking at the Basel II and subordinated debt proposals. It then turns to some of the difficulties that have been raised with their implementation, especially on a technical level. The chapter concludes by discussing some of the competitive and coordination issues that underlie many incentive-based approaches to financial regulation.

Keywords:   Basel II, market discipline, financial regulation, pricing risk, debt proposals

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