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On the International Harmonization of Bank Regulation

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  • White, Lawrence J

Abstract

This paper offers a three-way typology of bank regulation and examines the question of international harmonization for each category. For economic regulation, the danger is that harmonization could support and preserve domestic protectionist regulatory regimes, but it could instead be a beneficial guise for lowering protectionist barriers; the latter efforts should be encouraged. For prudential regulation, national regulation should be adequate to handle the extra stresses of international banking. Harmonization efforts (e.g. the Basle accord) may offer only modest help; but the Accord may offer indirect help, by limiting national governments' competitive efforts implicitly to subsidize their banks' risk-taking activities. Finally, for information regulation, national regulation appears to be adequate, and international harmonization does not appear to be necessary. Copyright 1994 by Oxford University Press.

Suggested Citation

  • White, Lawrence J, 1994. "On the International Harmonization of Bank Regulation," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 10(4), pages 94-105, Winter.
    • Handle: RePEc:oup:oxford:v:10:y:1994:i:4:p:94-105
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    Cited by:

    1. McShane, Michael K. & Cox, Larry A. & Butler, Richard J., 2010. "Regulatory competition and forbearance: Evidence from the life insurance industry," Journal of Banking & Finance, Elsevier, vol. 34(3), pages 522-532, March.
    2. Boyer, Pierre C. & Kempf, Hubert, 2020. "Regulatory arbitrage and the efficiency of banking regulation," Journal of Financial Intermediation, Elsevier, vol. 41(C).
    3. Marcelo Rezende, 2011. "How do joint supervisors examine financial institutions? the case of state banks," Finance and Economics Discussion Series 2011-43, Board of Governors of the Federal Reserve System (U.S.).
    4. Marcelo Rezende, 2011. "How Do Joint Supervisors Examine Financial Institutions? The Case of Banks," Chapters, in: Sylvester Eijffinger & Donato Masciandaro (ed.), Handbook of Central Banking, Financial Regulation and Supervision, chapter 18, Edward Elgar Publishing.
    5. Beck, T.H.L. & Todorov, R.I. & Wagner, W.B., 2011. "Bank Supervision Going Global? A Cost-Benefit Analysis (Replaced by CentER DP 2012-059)," Discussion Paper 2011-127, Tilburg University, Center for Economic Research.
    6. Dell'Ariccia, Giovanni & Marquez, Robert, 2006. "Competition among regulators and credit market integration," Journal of Financial Economics, Elsevier, vol. 79(2), pages 401-430, February.
    7. Roman Matousek, 1998. "The Czech Banking System in the Light of Regulation and Supervision: Selected Issues," Archive of Monetary Policy Division Working Papers 1998/05, Czech National Bank.
    8. Beck, T.H.L. & Todorov, R.I. & Wagner, W.B., 2012. "Supervising Cross-Border Banks : Theory, Evidence and Policy (Revised version of EBC Discussion Paper 2011-033)," Other publications TiSEM dfd16cc4-fe7a-4c89-997f-6, Tilburg University, School of Economics and Management.
    9. Michael Abendschein & Harry Gölz, 2021. "International cooperation on financial market regulation," International Economics and Economic Policy, Springer, vol. 18(4), pages 787-824, October.
    10. Beck, T.H.L. & Todorov, R.I. & Wagner, W.B., 2011. "Bank Supervision Going Global? A Cost-Benefit Analysis (Replaced by EBC DP 2012-015)," Other publications TiSEM 2c7d7637-bd3a-4a43-beac-3, Tilburg University, School of Economics and Management.
    11. Beck, T.H.L. & Todorov, R.I. & Wagner, W.B., 2012. "Supervising Cross-Border Banks : Theory, Evidence and Policy (Revised version of CentER Discussion Paper 2011-127)," Other publications TiSEM 1aedf83e-1ca5-44b5-bc6d-d, Tilburg University, School of Economics and Management.

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