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Countercyclical Capital and Currency Dependence

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  • Jón Daníelsson
  • Ásgeir Jónsson

Abstract

The introduction of risk sensitive bank capital charges into currency dependent economies exasperates the inherent procyclicality of banking regulations and frustrates the conduct of monetary policy. The authors argue that, by requiring capital charges resulting from foreign currency lending to be denominated in the same foreign currency, the capital charge becomes countercyclical.

Suggested Citation

  • Jón Daníelsson & Ásgeir Jónsson, 2005. "Countercyclical Capital and Currency Dependence," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 14(5), pages 329-348, December.
    • Handle: RePEc:wly:finmar:v:14:y:2005:i:5:p:329-348
    DOI: 10.1111/j.0963-8008.2005.00110.x
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