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Karl Whelan



financial institutions law and legislation europe financial institutions management european risk europe systemic implementation financial crises prevention central banks

Containing systemic risk (2009)

Abstract Systemic risk refers to the risk of financial system breakdown due to linkagesbetween institutions. This risk cannot be assessed by looking at how individualinstitutions manage risks but instead requires a full understanding of how thesystem as a whole operates. At present, the data available to central banks andfinancial regulators are not at all adequate for the task of assessing systemicrisk and the new European Systemic Risk Board needs to address this issue.There is a lot of exciting ongoing research devoted to measuring systemic riskand providing signals to regulators as to when and where they should intervene.However, the tools being developed are still limited in their usefulness. Perhapsmore pressing than the development of these tools is the implementation ofpolicy measures to make the financial system more robust. These measuresshould include higher capital ratios, limits on non-core funding and redesigningfinancial systems to be less complex.
Collections Ireland -> University College Dublin -> School of Economics
Ireland -> University College Dublin -> College of Social Sciences and Law
Ireland -> University College Dublin -> Economics Research Collection

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Karl Whelan

Experts in our system

Karl Whelan
University College Dublin
Total Publications: 70