Type
Article
Titre
Balancing market liquidity: Bank Structural Reform caught between growth and stability
Dans
Journal of Economic Policy Reform
Auteur(s)
ENDREJATA Vanessa - Max Planck Institute for the Study of Societies (MPIfG) (Auteur)
THIEMANN Matthias - Centre d'études européennes et de politique comparée (Auteur)
Éditeur
GB : Routledge
Pages
undefined - Online p.
ISSN
17487870
Mots clés
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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