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Balancing market liquidity: Bank Structural Reform caught between growth and stability

 

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Type:   Article
 
Titre:   Balancing market liquidity: Bank Structural Reform caught between growth and stability
 
Auteur(s):   Endrejata, Vanessa (Auteur)
Thiemann, Matthias - Centre d'études européennes et de politique comparée (Auteur)
 
In:   Journal of Economic Policy Reform
 
Date de publication:   2018-08
 
Éditeur:   ROYAUME-UNI  :  Routledge
 
ISSN:   17487870
 
Mots-clés:   [en] Bank Structural Reform; market-making; market liquidity
 
Résumé:   [en] The European Commission’s proposal for a Bank Structural Reform (BSR) aimed at increasing banks’ resolvability through separating risky trading activities from deposit-taking institutions. In contrast to initial plans, the final proposal exempted market-making activities of banks. This exemption, we argue, was brought about by the Commission’s discursive framing of the BSR as a balancing act between stability and growth. Coupled with the incapacity to unambiguously measure the effects of the reform on market liquidity and on growth, this pushed the assessment of market-making from the technical to the political realm, leading to a reproduction of the prevalent market-based banking system.
 
 

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