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Corporate Structures, Transparency and Resolvability of Global Systemically Important Banks

Author

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  • Carmassi, Jacopo

    (University LUISS Guido Carli)

  • Herring, Richard J.

    (University of PA)

Abstract

Before the global 2008 financial crisis, most officials appeared not to have anticipated the problems that would need to be addressed if a large cross-border bank should need to be resolved. During and after the financial crisis, this issue surged to the top of the policy agenda. Events made clear that several institutions had become too big and too complex to fail: new rules were needed to make resolution of global banks possible, without cost to taxpayers or damaging spillovers to the economy. After the crisis, the G-20 gave the Financial Stability Board (FSB) a mandate to identify Global Systemically Important Banks (G-SIBs) and to ensure that each had a credible recovery and resolution plan. This study investigates the complexity of the 29 institutions that have been designated as G-SIBs in 2013.

Suggested Citation

  • Carmassi, Jacopo & Herring, Richard J., 2015. "Corporate Structures, Transparency and Resolvability of Global Systemically Important Banks," Working Papers 15-10, University of Pennsylvania, Wharton School, Weiss Center.
    • Handle: RePEc:ecl:upafin:15-10
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    File URL: http://fic.wharton.upenn.edu/fic/papers/15/p1510.html
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    Cited by:

    1. Luciano, Elisa & Wihlborg, Clas, 2018. "Financial synergies and systemic risk in the organization of bank affiliates," Journal of Banking & Finance, Elsevier, vol. 88(C), pages 208-224.
    2. Herring, Richard J., 2018. "The Evolving Complexity of Capital Regulation," Working Papers 18-01, University of Pennsylvania, Wharton School, Weiss Center.
    3. Nicola Cetorelli & Linda S. Goldberg, 2016. "Organizational Complexity and Balance Sheet Management in Global Banks," NBER Working Papers 22169, National Bureau of Economic Research, Inc.
    4. Aldasoro, Iñaki & Hardy, Bryan & Jager, Maximilian, 2022. "The Janus face of bank geographic complexity," Journal of Banking & Finance, Elsevier, vol. 134(C).
    5. Carmassi, Jacopo & Herring, Richard, 2016. "The Corporate Complexity of Global Systemically Important Banks," Working Papers 16-09, University of Pennsylvania, Wharton School, Weiss Center.
    6. Herring, Richard J., 2016. "Less Really Can Be More: Why Simplicity and Comparability Should be Regulatory Objectives," Working Papers 16-08, University of Pennsylvania, Wharton School, Weiss Center.
    7. Jacopo Carmassi & Richard Herring, 2016. "The Corporate Complexity of Global Systemically Important Banks," Journal of Financial Services Research, Springer;Western Finance Association, vol. 49(2), pages 175-201, June.
    8. Richard J. Herring, 2016. "Less Really Can be More: Why Simplicity & Comparability Should be Regulatory Objectives," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 44(1), pages 33-50, March.

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