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Vers une nouvelle doctrine prudentielle

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  • Michel Aglietta
  • Laurence Scialom

Abstract

[eng] Towards a new prudential doctrine. The purpose of this paper is to underline the irrelevance of the neo-classical theory of contracts to treat the control of banking risks in a liberalised and global financing system. Following a theoretical discussion supporting our assertion, we illustrate our point of view by analysing two important and specific problems of prudential regulation. On one side, we study the question of derivative markets and the correlation recognition of bank’s internal control models by the supervisor. On the other side, we emphasize the prudential problems generated by the constitution of financial conglomerates. [fre] Cet article vise à montrer à partir d’arguments théoriques et empiriques l’inadéquation de la théorie néo-classique des contrats à traiter la question du contrôle des risques dans le système bancaire et, plus généralement, dans le système financier, dès lors que l’on passe de systèmes réglementés et segmentés à des systèmes financiers libéralisés. Après un exposé théorique confortant cette assertion, nous illustrons notre propos à partir de deux champs d’application particulièrement sensibles : le contrôle des risques sur les marchés dérivés et la reconnaissance corrélative des modèles de contrôle interne des banques ; et, les problèmes prudentiels posés par la constitution de conglomérats financiers.

Suggested Citation

  • Michel Aglietta & Laurence Scialom, 1998. "Vers une nouvelle doctrine prudentielle," Revue d'Économie Financière, Programme National Persée, vol. 48(4), pages 47-73.
    • Handle: RePEc:prs:recofi:ecofi_0987-3368_1998_num_48_4_4584
    DOI: 10.3406/ecofi.1998.4584
    Note: DOI:10.3406/ecofi.1998.4584
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    References listed on IDEAS

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    1. Paul H. Kupiec & James M. O'Brien, 1995. "The use of bank trading risk models for regulatory capital purposes," Finance and Economics Discussion Series 95-11, Board of Governors of the Federal Reserve System (U.S.).
    2. John H. Boyd & Mark Gertler, 1994. "Are banks dead?," The Region, Federal Reserve Bank of Minneapolis, vol. 8(Sep), pages 22-26.
    3. Michel Dietsch & Claude Jessua, 1996. "Efficience et prise de risque dans les banques en France," Revue Économique, Programme National Persée, vol. 47(3), pages 745-754.
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    1. Michel Aglietta & Laurence Scialom & Thierry Sessin, 2000. "Pour une politique prudentielle européenne," Revue d'Économie Financière, Programme National Persée, vol. 60(5), pages 59-84.
    2. Michel Aglietta & Laurence Scialom & Thierry Sessin, 2000. "The Development of a European Prudential System," Revue d'Économie Financière, Programme National Persée, vol. 60(5), pages 59-83.

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