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Assignment代写:New changes in British banking

2018-08-08 来源: 51due教员组 类别: 更多范文

下面为大家整理一篇优秀的assignment代写范文- New changes in British banking,供大家参考学习,这篇论文讨论了英国银行业的变革。一直以来,英国银行业的经营管理就存在许多的不足,这些弊端也为英国银行在金融危机之中的糟糕表现埋下了隐患,导致其在危机来临时毫无防备能力。金融危机过后,英国银行业独立委员会为了解决这些弊端,就对英国银行业进行了改革,以创建一个适度隔离商业银行的零售业务,引入更为严格的资本充足率要求,设立债权人损失分担机制,来推动形成高度竞争的银行体系。

British banking,英国银行业变革,assignment代写,paper代写,美国作业代写

For a long time, there are many deficiencies in the management of British banking. For example, the excessive operating leverage of the banking industry, the lack of necessary isolation of different businesses under mixed operation mode, and the weak risk awareness of the management under the anesthesia of high bonus, etc. These abuses have led to the bank's poor performance in the financial crisis, leaving it defenseless

The outbreak and spread of the international financial crisis reflects the insufficiency of the original financial supervision model and highlights the necessity of reforming the financial supervision model. After the outbreak of the international financial crisis, the Basel committee formulated and issued a new generation of capital accord, which set new requirements and methods on strengthening capital regulation and liquidity risk management, and set a detailed timetable for the implementation of the new capital accord. In the United States, the financial regulatory authority promulgated the financial regulatory reform act, which set stricter regulations on the size of individual commercial Banks and limits commercial Banks to engage in high-risk proprietary trading. Many other countries, including China, Switzerland and Italy, have also accelerated the pace of financial regulatory reform in light of their actual conditions.

In this context, the independent commission on banking issued the interim report of the reform proposal, which initially set the direction of the reform of the commercial banking industry in the UK, thus kicking off the curtain on future changes.

The independent commission on banking industry of the United Kingdom has been adhering to the basic functions of improving the robustness of the banking industry and protecting the interests of taxpayers and consumers.

Before the outbreak of the international financial crisis, mixed operation was the mainstream business model of European and American financial institutions. However, after the outbreak of the international financial crisis, many commercial Banks due to loss of asset side position or cash difficult, debt financing source blocked, or suffer great losses, or severe liquidity predicament, retail banking customers so direct damage instead, run to become their most instinctive reaction. In order to maintain the confidence of financial market participants and the stability of financial market, the government was forced to carry out large-scale rescue activities for financial institutions. The cycle is essentially a disguised subsidy to large financial institutions by ordinary taxpayers. In order to change this situation, the independent commission on banking in the UK proposed a modest segregation and protection of the retail banking business of the commercial banking group.

Its main measures are to establish a "firewall" between retail banking and investment banking and wholesale banking, to ban funds deposited in retail banking from other high-risk businesses, and to impose independent and stricter capital requirements on retail Banks. This reform proposal not only protects the interests of ordinary consumers, but also reduces the possibility and necessity of future government rescue of financial institutions in the crisis.

Unlike the "volcker rule" in the us financial regulation act, which severely restricted the proprietary trading of commercial Banks, the UK banking industry is more flexible in its "moderately segregated and differentiated treatment" approach to different types of business. This separation method is a compromise choice between financial mixed operation and separate operation, which can well absorb the advantages of the two operation modes and have relatively little impact on human resources and profitability of commercial Banks.

In the wake of the international financial crisis, some commercial Banks whose capital adequacy ratios have met the Basel committee's minimum capital requirements are also vulnerable, showing that existing capital management is seriously flawed.

In terms of capital adequacy regulation, the independent commission on banking has recommended that 10% tier 1 capital requirements be imposed on major systemically important Banks and institutions engaged in retail banking in the UK. For other types of commercial Banks, 7% tier 1 capital requirements proposed by the Basel committee reform can be adopted. The introduction by the independent commission on banking of differentiated capital adequacy requirements for different types of institutional business is a major initiative in the post-crisis regulatory reform of commercial Banks.

Higher capital adequacy requirements and "exceptional treatment" of retail banking show the determination of the independent commission on banking to improve the robustness of the banking system and strengthen consumer protection for retail banking through capital adequacy management.

The independent commission on banking argues that a more concentrated banking sector limits competition between Banks and is bad for commercial Banks to better serve their customers, especially retail ones. To this end, numerous initiatives to promote competition among commercial Banks are proposed in the interim report of its reform proposals.

One is to suggest that lloyds consider selling more branches on top of the 600 already on the table, reducing its share of the UK retail banking market to increase competition. Second, it is suggested to greatly improve the convenience of customer service in the process of bank transfer. In the process of account transfer, special attention should be paid to customer confidentiality. Customers' free choice of service agencies can promote commercial Banks to improve service level and meet the needs of customers' diversity. Third, the proposed reform of the UK financial regulator should consider whether it can promote effective competition among financial institutions. Fourthly, it is suggested that in terms of banking access, the entry threshold of new banking entrants can be appropriately reduced by encouraging smaller commercial Banks to adopt more advanced risk management technology, sharing management experience with other Banks, and providing necessary support for new entrants.

Promote greater competition system of commercial bank is the banking reform and other countries and international financial regulatory reform in comparison is more unique and novel content, it has to do with Britain's banking industry structure and the difference between other countries have a direct relationship, also reflected the basic starting point Britain's independent commission on banking to protect the interests of the consumer.

In the opinion of the independent commission on banking in the UK, it is a more reasonable and desirable loss sharing mechanism for creditors to bear the losses of commercial Banks when necessary, rather than taxpayers or depositors, and it can strengthen the supervision and restriction that creditors should have on the operation and management of commercial Banks. The independent commission on banking therefore recommended that commercial bank debt could be used as an contingent capital, maintaining commercial Banks' capital adequacy by writing off debt or initiating a "debt-to-equity" process when their level of tier-one or total capital was below a certain threshold. In addition, the independent commission on banking also recommends the introduction of "rescue bond", which means to optimize the capital structure of commercial Banks by writing off bonds or "debt-for-equity swap", so as to guarantee the sustainable operation of commercial Banks, before commercial Banks are unable to operate but will not go bankrupt.

The proposals on creditor loss sharing mechanism all reduce the possibility of commercial Banks' crisis by sacrificing part of the interests of creditors and reduce the impact, reflecting the principle of the independent commission on banking to protect the interests of depositors and taxpayers as the core of the reform. However, because such bonds may lack effective market demand, the effective implementation of the loan-sharing mechanism for creditors still has major obstacles.

As for the creditor loss sharing mechanism, it is also reflected in the regulatory reform of the Basel committee and the us financial regulatory authority. It can be seen that the international financial circle is gradually reaching a consensus on this reform orientation.

The independent commission on banking's proposals on banking reform could have a number of important implications because of their wider implications.

First, commercial Banks' operating and management costs will rise. In terms of capital adequacy regulation, although big global commercial Banks such as HSBC and standard chartered currently have a tier 1 capital level of more than 10%, which is less directly affected by the new reform policy, the capital adequacy ratio of domestic commercial Banks in the UK has not yet met the minimum requirements. This means that most British commercial Banks need to go through the financing process of equity capital, and the competition for capital will increase the financing cost of commercial Banks. In terms of isolating retail banking business, it is inevitable for commercial banking groups to make necessary organizational structure changes and establish effective firewalls to meet the regulatory requirements, which will directly increase the compliance costs of commercial Banks.

Second, commercial Banks' profitability will decline. Under higher capital adequacy requirements, commercial Banks are likely to be forced to voluntarily shrink the capital - consuming businesses, which are often more profitable. Because of the isolation of retail banking, investment banking and wholesale banking have lost their relatively cheap sources of funding, and the proportion of the two kinds of businesses with higher levels of profitability is likely to decline relatively, reducing the profitability of commercial Banks as a whole. In addition, the increased competition in the market of retail banking may force commercial Banks to lower the price of services to attract and win customers, which will further reduce the profitability of commercial Banks.

Third, commercial Banks may increase financial innovation. Historical experience shows that financial regulation is the catalyst of financial innovation, and every reform of financial regulation will induce large-scale financial innovation. There is no doubt that the independent commission on banking reform will also provide commercial Banks with more room for innovation. How to recombine retail banking with other banking businesses on the premise of meeting the regulatory requirements, how to play the role of debt instruments in capital management, etc., are all likely to become important areas for British commercial Banks to carry out a new round of financial innovation.

The proposal of the independent commission on banking reform in the UK will bring some negative impacts while making higher demands on financial regulation.

First, it will be harder and more expensive for UK banking regulators to regulate. Taking the retail banking as an example, how to define the retail banking business accurately, how to build the firewall, how to evaluate the effectiveness of the firewall, and so on will be the problem that the regulator needs to make great efforts to solve. Strict supervision inevitably requires the reform of the existing supervision system and the enrichment of the manpower of the supervision department, and the cost of supervision will naturally increase accordingly.

Second, differences in national regulatory requirements will induce regulatory arbitrage. Different countries have different regulatory requirements for systemically important Banks, such as different minimum capital requirements and different regulatory methods for commercial Banks to participate in investment banking business. Undoubtedly, these differences will certainly induce the regulatory arbitrage behavior of commercial Banks, which may avoid the adverse regulation by changing the domicile and setting up subsidiaries of different business sectors in different countries or regions.

As one of the most important global international financial centers, London still maintains such important advantages as macroeconomic financial and political stability, sound laws and regulatory and tax systems, deep and liquid markets, and large Numbers of financial talents. The independent commission on banking's recommendations on banking reform have not shaken the foundations of the London international financial centre, and the new banking reforms will help to gradually improve the stability of the UK financial system and may in the long term become a driving force for strengthening London's position as an international financial centre.

However, in the short term, some commercial Banks in the UK will inevitably be impacted by the new changes, which may lead them to adjust some businesses and streamline related personnel. Some financial institutions have even relocated their headquarters. This situation is likely to lead to the contraction of some financial services in London, the loss of financial talents and the reduction of financial institutions, thus causing a certain negative impact on London's status as an international financial center. In competing with other international financial centres, London's influence and position may undergo a process of relative weakening in the short term.

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