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Risks in Financial Group Structures

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  • Stephen Lumpkin

    (OECD)

Abstract

This article looks at the types of risks that may be associated with complex financial groups and then sifts through the weight of the evidence in favour of, and against, the various alternatives used to address those risks. The conclusion drawn is that there is no magic bullet among the available policy options that is sufficient on its own to satisfy the three core policy objectives (i.e. safety and soundness, systemic stability, and conduct of business). Rather, this article argues that the greater financial and economic impacts associated with problems at larger institutions requires a holistic approach that combines transparency, governance, regulation and supervision. JEL Classification: G01, G18, G02, G03, G28, G32. Keywords: financial groups, safety and soundness, systemic stability, contagion, governance, supervision and regulation, market discipline.

Suggested Citation

  • Stephen Lumpkin, 2011. "Risks in Financial Group Structures," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2010(2), pages 105-136.
    • Handle: RePEc:oec:dafkad:5kggc0z2f0g0
    DOI: 10.1787/fmt-2010-5kggc0z2f0g0
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    Citations

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    Cited by:

    1. George Economides & Apostolis Philippopoulos & Petros Varthalitis, 2016. "Monetary Union, Even Higher Integration, or Back to National Currencies?," CESifo Economic Studies, CESifo Group, vol. 62(2), pages 232-255.
    2. Abedifar, Pejman & Hasan, Iftekhar & Tarazi, Amine, 2016. "Finance-growth nexus and dual-banking systems: Relative importance of Islamic banks," Journal of Economic Behavior & Organization, Elsevier, vol. 132(S), pages 198-215.
    3. Maghyereh Aktham Issa & Awartani Basel, 2012. "Modeling and Forecasting Value-at-Risk in the UAE Stock Markets: The Role of Long Memory, Fat Tails and Asymmetries in Return Innovations," Review of Middle East Economics and Finance, De Gruyter, vol. 8(1), pages 1-22, August.
    4. Grozdana Belopavlovic & Mihajlo Djukic, 2011. "Development of Serbian banking Sector: a Comparision With the Western Balkan Countries," Book Chapters, in: Stefan Bogdan Salej & Dejan Eric & Srdjan Redzepagic & Ivan Stosic (ed.), Contemporary Issues in the Integration Processes of Western Balkan Countries in the European Union, chapter 29, pages 478-494, Institute of Economic Sciences.

    More about this item

    Keywords

    financial groups; safety and soundness; systemic stability; contagion; governance; supervision and regulation; market discipline.;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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