The concept of “banking as a public utility” only makes sense when contemplating the traditional commercial and retail banking services for the public, such as operating deposit accounts, executing payment services or providing loans. In the early stages of banking, when interest charged on loans and deposits was merely symbolic - largely due to the religious restrictions on usury -, banking practices were seen as serving a low-return public utility.
In this research paper, I addressed the question of whether large banks, forced to reduce leverage and strengthen liquidity in light of rigorous capital adequacy requirements, will restrict their business in the near future by getting rid of non-core activities, only to permanently turn to low-risk and limited profitability basic banking activities, serving a public role similar to that of public utilities such as gas, water or electric companies.
Inhaltsverzeichnis
CONTENTS
A BANKING UTILITY
HISTORY OF BANKING
BANKING REGULATION
MACROPRUDENTIAL TOOLS & CAPITAL ADEQUACY
THE GLOBAL FINANCIAL CRISIS
REGULATORY RESPONSES
BIS, Basel Committee and the Accords
Basel III
BANCO ESPÍRITO SANTO
NOVO BANCO
“BEFORE AND AFTER”
BACK TO THE DRAWING BOARD?
BIBLIOGRAPHY
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