publication . Doctoral thesis . 2017

The Legal Structure of Commercial Banks and Financial Regulation : does organizational form matter for the design of bank regulation?

Cedeno-Brea, Enmanuel;
Open Access English
  • Published: 02 Mar 2017
  • Publisher: Erasmus University Rotterdam
  • Country: Netherlands
Abstract
markdownabstractDo the different ways that commercial banks are legally organized matter for the design of financial regulation? It is often assumed that most commercial banks are setup as investor owned business corporations. However, this is not always the case In many jurisdictions, banks are legally organized using a plethora of organizational forms, which include: co-operatives, mutual associations and even nonprofit entities. Thus, some of the distinctive legal attributes and features of these non-corporate banks are not regulated by corporate law – but rather by specialized statutes (e.g. cooperative law, the law of nonprofit entities, etc.). Moreover, ma...
Subjects
free text keywords: Legal forms, financial regulation, bank ring-fencing, asset partitioning
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23 references, page 1 of 2

Regulation? - An Overview of the Thesis .......................................................................1 1. RESEARCH QUESTIONS AND OBJECTIVES ........................................................... 5 2. MOTIVATION ................................................................................................................... 8 3. PLACING THE THESIS WITHIN THE LITERATURE ........................................... 11 4. METHODS........................................................................................................................ 16 5. THESIS STRUCTURE .................................................................................................... 17

Partitioning in the United Kingdom ............................................................................169 1. INTRODUCTION .......................................................................................................... 170 2. SOME ECONOMIC ASPECTS OF BANK RING-FENCING ................................. 177 2.1. What is Bank Ring-Fencing? .................................................................................... 177

Conclusions - the Legal Organization of Banks Matters for Financial Regulation221 1. CONCLUDING REMARKS......................................................................................... 221 2. WHAT HYPOTHESES COULD BE DRAWN FROM THIS THESIS.................... 224 3. SOME LIMITATIONS.................................................................................................. 226 4. WIDER POLICY IMPLICATIONS AND OPPORTUNITIES FOR FUTURE RESEARCH ........................................................................................................................... 227 The Legal Organization of Non-Bank Financial Institutions .............................................. 227 Legal Structure and Regulatory Compliance ...................................................................... 229 The Political Economy of Banking Structural Reforms...................................................... 230 BIBLIOGRAPHY.................................................................................................................. 233 SUMMARY ............................................................................................................................ 266 SAMENVATTING ................................................................................................................ 267

Figure 1. Linkage Between Legal Form and Financial Regulation.....................................8

Figure 2. Liquidation Protection and Creditor Rank .........................................................83

Figure 3. FDIC Bank Claims Priority Structure ..............................................................100

Figure 4. Bank Ownership and Voting Rules....................................................................97

Figure 5. Bank Capital to Total Assets Ratio for Selected Countries .............................117

Figure 6. 8% Total Capital Ratio Under Basel III ...........................................................124

Figure 7. Total Regulatory Capital to RWA Under Basel I and Basel III.......................133

Figure 8. Entity Shielding and MPE Resolution Strategies.............................................165

Figure 9. Subsidiarization as Asset Partitioning..............................................................194

Figure 10. Sibling Structure of a Group Containing a RFB ............................................205

Figure 11. Discouraged Structure I for RFBs..................................................................206

Figure 12. Discouraged Structure II for RFBs ................................................................207

23 references, page 1 of 2
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