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dc.contributor.authorAllen, Franklinen
dc.contributor.authorCarletti, Elenaen
dc.contributor.authorMarquez, Roberten
dc.date.accessioned2006-08-07-
dc.date.accessioned2009-07-24T13:47:13Z-
dc.date.available2009-07-24T13:47:13Z-
dc.date.issued2005-
dc.identifier.piurn:nbn:de:hebis:30-18130en
dc.identifier.urihttp://hdl.handle.net/10419/25422-
dc.description.abstractMarket discipline for financial institutions can be imposed not only from the liability side, as has often been stressed in the literature on the use of subordinated debt, but also from the asset side. This will be particularly true if good lending opportunities are in short supply, so that banks have to compete for projects. In such a setting, borrowers may demand that banks commit to monitoring by requiring that they use some of their own capital in lending, thus creating an asset market-based incentive for banks to hold capital. Borrowers can also provide banks with incentives to monitor by allowing them to reap some of the benefits from the loans, which accrue only if the loans are in fact paid o.. Since borrowers do not fully internalize the cost of raising capital to the banks, the level of capital demanded by market participants may be above the one chosen by a regulator, even when capital is a relatively costly source of funds. This implies that capital requirements may not be binding, as recent evidence seems to indicate.en
dc.language.isoengen
dc.publisher|aGoethe University Frankfurt, Center for Financial Studies (CFS) |cFrankfurt a. M.en
dc.relation.ispartofseries|aCFS Working Paper |x2005/23en
dc.subject.jelG21en
dc.subject.jelG38en
dc.subject.ddc330en
dc.subject.keywordBankingen
dc.subject.keywordCostly Capitalen
dc.subject.keywordAsset Side Market Disciplineen
dc.subject.stwKreditmarkten
dc.subject.stwWettbewerben
dc.subject.stwMoral Hazarden
dc.subject.stwEigenkapitalvorschriftenen
dc.subject.stwEinlagensicherungen
dc.subject.stwTheorieen
dc.titleCredit market competition and capital regulation-
dc.typeWorking Paperen
dc.identifier.ppn504023489en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:cfswop:200523en

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