Junge Georg, Kugler Peter
Risk Consulting and Partner, Arabienstrasse 28, CH-4059 Basel, Switzerland.
2Faculty of Business and Economics, University of Basel, Peter Merian-Weg 6, CH-4002 Basel, Switzerland.
Swiss J Econ Stat. 2018;154(1):22. doi: 10.1186/s41937-018-0025-z. Epub 2018 Aug 22.
Ten years after the worst financial crisis of the post-war period, Switzerland has established a Too-Big-To-Fail (TBTF) framework. Under this framework, the two large Swiss banks are subject to substantial capital requirements. It is not obvious whether the TBTF capital requirements are sufficient to prevent banks from plunging the country into a financial crisis once again. We estimate the social costs and benefits of higher capital requirements for the two large Swiss banks and derive socially optimal capital ratios from the cost-benefit trade-off. Our results show that Swiss TBTF capital requirements still fall short of socially optimal capital ratios.
在战后最严重的金融危机爆发十年后，瑞士建立了“大而不能倒”（TBTF）框架。在该框架下，两家瑞士大型银行需遵守大幅提高的资本要求。目前尚不清楚“大而不能倒”的资本要求是否足以防止银行再次使该国陷入金融危机。我们估算了提高两家瑞士大型银行资本要求的社会成本与收益，并通过成本效益权衡得出了社会最优资本比率。我们的结果表明，瑞士的“大而不能倒”资本要求仍未达到社会最优资本比率。
