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The China government has worked on economic reformation and opening policy¡@since the end of 1978 in order to follow the trend of international economic development. Economic decides finance, financial reformation, such as setting up central bank system, improving the function of commercial banks, developing financial market, is one of the most important chain in economic reformations. Basically, the main part of this research is review of the reform process of the banking system in China. Because the Chinese economy is in a rapid transition and its banking system has been constantly changing since the late 1970s. The financial system of Mainland China has been improved a lot for more than twenty years. There are still many problems in structure and operation during the procedure of financial development. A lot of bad loans for national banks, unhealthy financial management, immature capital market and the impact as the entry into the WTO, are going to be the tests of banking system of Mainland China. Beside, we use the theory of banking crisis discussing the problem of China¡¦s banking industry. And research an outline of the present situation of banking system in China. Our major discussing are as follows¡G Chapter one of this research is introduction of this research. Chapter two reviews how the current banking system has emerged from the all-inclusive monobank system in the past. Chapter three we review the theory of banking crisis. Chapter four provides an outline of the present situation of banking system in China. In Chapter five we discuss the problems happened and the possible impact to the banking system in China by the entrance of WTO. Chapter six provide a summary of this research.

This paper examines the relation between competition in the banking sector and the financial stability on country level. Compared to previous research, it takes a different approach in that it uses realized systemic risk in the form of systemic banking crises instead of the total systemic risk. Theory provides us with two opposing theories regarding the role of competition on stability. Previous studies presented mixed results which leaves us with unresolved questions which this paper tries to answer. The results show that there is evidence for both views, but without giving an all comprehending answer.

My thesis focuses on three related research themes. First, to provide academic rigour to the assertions of the Nyberg Report (2011) that the Irish banks were characterised by both groupthink and herding in the lead up to the recent financial crisis. The Nyberg Report was commissioned by the Irish government to provide explanations for the causes of the Irish financial crisis. In particular my thesis explores whether the board of Anglo Irish Bank (Anglo) was characterised by groupthink tendencies and whether the other Irish banks looked to emulate Anglo's strategy. Second, my thesis will develop a theoretical model which identifies characteristics associated with the increased vulnerability of a board to a poor decision process . In particular the model will focus on the interplay between normative and informative influences on decision process and how these can and do interact with director skill levels. Five research questions are developed and my theoretical model of VPDP is applied to the Irish bank case study. Information will be gathered through a process of semi-structured interviews and an analysis of existing literature, official reports and annual financial statements. Third, a series of recommendations are made which are derived from the model itself and are intended to reduce the likelihood of boards pursuing a poor decision strategy and in increasing the likelihood of a robust boardroom challenge.

This thesis is about banking system in Ukraine.The aim of the work is to describe the present state of commercial and central banking. The key part of the thesis concentrates on financial crisis that is now in Ukraine.This part describe the influence of crisis on other fields of ukrainian economic.

Japan is currently suffering its third economic downturn of the past decade. While Japan suffers from a variety of structural problems, the most acute is the crushing burden carried by the banks. They still suffer under the weight of thousands of billions of yen of bad loans resulting from the collapse in asset prices a decade ago. Japan's still unsolved banking crisis constitutes a threat to a large component of the global financial system. Some economists believe that these events were avoidable. Better underwriting by Japanese banks and more prudent monetary policies by the Central Bank of Japan could have prevented the subsequent downturn and losses. It may be impossible to prove that sound policies could have avoided the persistent crisis altogether, but it seems unarguable that better professional underwriting by Japanese banks and more prudent monetary policies by the Central Bank could have mitigated the severity of the economic downturns and reduced huge losses. The model I have constructed analyzes whether the events leading Japan into financial crisis could have been anticipated. The model is a simple multivariate econometric equation estimated monthly data between 1980 and 1990. This model appears to explain much of the variation in non-performing loans during this period. The model simulated during the period 1990 to 2001 indicates that the non-performing loans could have been anticipated. This model or one like it could have given bank regulators basic tools to anticipate the incidence of non-performing loans during the 1990s. Had regulators done so, it might have been possible for them to take those remedial actions that would have limited the subsequent numbers of poorly underwritten loans during the 1990s. / Master of Arts

A solidez do sistema bancário é fundamental para a estabilidade financeira e econômica, razão por que é preciso desenvolver mecanismos que diminuam a probabilidade de crises. Neste contexto, instituíram-se redes de segurança e exigência de capital para cobertura de exposições a riscos. Na última década, iniciou-se ativamente a discussão sobre o fortalecimento de um mecanismo complementar, denominado disciplina de mercado: a influência que investidores podem exercer sobre os bancos, encorajando-os a comportarem-se consistentemente com sua solvência. O Novo Acordo de Capital de Basiléia inclui a disciplina de mercado em seu Pilar 3, ratificando sua relevância. A literatura sobre a atuação dos investidores como elementos que contribuem para a disciplina das instituições bancárias concentra-se em três mercados de produtos de captação: dos depósitos, dos títulos em geral e do interbancário. O objetivo desta tese é investigar empiricamente se o depositante brasileiro não segurado pelo Fundo Garantidor de Crédito responde a variações do risco a que os bancos estão expostos. Esta verificação pioneira no Brasil é a principal contribuição do trabalho. A amostra compõe-se de dados de 54 bancos, observados entre 1999 e 2006. A hipótese de existência de disciplina de mercado é testada estimando-se modelos econométricos que associam taxas de juros e variações de quantidade dos depósitos a variáveis indicadoras de risco das instituições, abrangendo as perspectivas de rentabilidade, liquidez, adequação de capital à estrutura de riscos e qualidade dos ativos e da administração. Os parâmetros dos modelos foram estimados utilizando-se diferentes métodos: mínimos quadrados ordinário, efeitos aleatórios, efeitos fixos e método generalizado dos momentos sistêmicos (GMM Sistêmico). As análises de diagnóstico destacaram este último como o mais adequado, face à necessidade de controle dos problemas de endogeneidade dos regressores. Os dados mostram algumas evidências favoráveis à hipótese de existência de disciplina do depositante no Brasil. Verifica-se uma associação entre o aumento do risco, medido por indicadores da qualidade de administração e da adequação de capital, e uma variação negativa dos volumes de depósitos. Todavia, o sinal negativo e significante do coeficiente da variável indicadora de liquidez não permite confirmar de maneira inequívoca a presença da disciplina de mercado. Encontra-se também uma relação entre taxas de juros mais altas e um aumento de risco, identificado pela variável indicadora da qualidade dos ativos. Porém, observa-se um relacionamento negativo e significante entre a taxa de juros e a variável de tamanho do banco, o que pode significar uma percepção, pelos depositantes, de políticas voltadas para a preservação dos bancos de maior porte. Adicionalmente, há indícios de que os depositantes de bancos privados têm uma atuação disciplinadora mais intensa, enquanto aqueles que destinam seus recursos aos bancos públicos são mais sensíveis ao tamanho do banco. A conjugação dos resultados sugere a necessidade de criar-se uma estrutura para a expansão da disciplina dos depositantes no Brasil. É preciso melhorar a transparência e a divulgação de informações sobre a situação financeira dos bancos e desestimular a aparente confiança no salvamento de bancos grandes e/ou públicos. / Safe banking system is an important factor to economic and financial stability, which is the reason why it is necessary to develop tools to diminish the probability of crisis. In this context safety nets and risk-based capital requirements have been created. Since the 1990s, there have been growing discussions on a complementary mechanism to enhance the soundness of the financial system, called market discipline: the influence investors may exert on banks, encouraging them to behave in a manner consistent with their solvency. The New Basel Capital Accord includes market discipline as its third pillar, ratifying its relevance. Empirical literature on investors’ ability to discipline banks concentrates on three markets: depositors, bondholders and interbank lending market. The main goal of this dissertation is to empirically examine whether uninsured depositors respond to bank risk. This original investigation with Brazilian data is the main contribution of this work. The sample consists of data from 54 commercial banks, from 1999 to 2006. The hypothesis of the existence of discipline is tested through the estimation of econometric models which relate interest rates and change in deposits to measurements of bank risk, concerning capital adequacy, asset quality, management, earnings and liquidity. Several methods are applied to estimate the parameters of the empirical models: ordinary least squares, random effects, fixed effects and system generalized method of moments (System GMM). Diagnostic tests indicate the latter as the most appropriate one, due to the need to control for endogeneity of the explanatory variables. The data provide a few evidences favorable to the hypotheses of the presence of depositor discipline. There is an association between risk increase, measured by proxies of capital adequacy and management quality, and a negative variation of deposits. On the other hand, the negative and significant sign of the coefficient of the liquidity indicator does not allow an unequivocal confirmation that discipline is at work. There is also a relation between higher interest rates and risk increases, measured by one indicator of the quality of assets. However, a negative and significant relationship between interest rate and the size of the bank is found, which could mean that depositors conceive policies to protect larger banks. Additionally, there are indications that private bank depositors exert enhanced discipline, while those who invest their funds in public bank are more concerned about the size of the bank. The combination of these results suggests the need to create an environment in Brazil, where depositor discipline could be expanded. It is critical to eliminate any vestige of beliefs in too big to fail policies as well as on the rescue of public banks. It is also important to improve disclosure policies on banks financial conditions.

A solidez do sistema bancário é fundamental para a estabilidade financeira e econômica, razão por que é preciso desenvolver mecanismos que diminuam a probabilidade de crises. Neste contexto, instituíram-se redes de segurança e exigência de capital para cobertura de exposições a riscos. Na última década, iniciou-se ativamente a discussão sobre o fortalecimento de um mecanismo complementar, denominado disciplina de mercado: a influência que investidores podem exercer sobre os bancos, encorajando-os a comportarem-se consistentemente com sua solvência. O Novo Acordo de Capital de Basiléia inclui a disciplina de mercado em seu Pilar 3, ratificando sua relevância. A literatura sobre a atuação dos investidores como elementos que contribuem para a disciplina das instituições bancárias concentra-se em três mercados de produtos de captação: dos depósitos, dos títulos em geral e do interbancário. O objetivo desta tese é investigar empiricamente se o depositante brasileiro não segurado pelo Fundo Garantidor de Crédito responde a variações do risco a que os bancos estão expostos. Esta verificação pioneira no Brasil é a principal contribuição do trabalho. A amostra compõe-se de dados de 54 bancos, observados entre 1999 e 2006. A hipótese de existência de disciplina de mercado é testada estimando-se modelos econométricos que associam taxas de juros e variações de quantidade dos depósitos a variáveis indicadoras de risco das instituições, abrangendo as perspectivas de rentabilidade, liquidez, adequação de capital à estrutura de riscos e qualidade dos ativos e da administração. Os parâmetros dos modelos foram estimados utilizando-se diferentes métodos: mínimos quadrados ordinário, efeitos aleatórios, efeitos fixos e método generalizado dos momentos sistêmicos (GMM Sistêmico). As análises de diagnóstico destacaram este último como o mais adequado, face à necessidade de controle dos problemas de endogeneidade dos regressores. Os dados mostram algumas evidências favoráveis à hipótese de existência de disciplina do depositante no Brasil. Verifica-se uma associação entre o aumento do risco, medido por indicadores da qualidade de administração e da adequação de capital, e uma variação negativa dos volumes de depósitos. Todavia, o sinal negativo e significante do coeficiente da variável indicadora de liquidez não permite confirmar de maneira inequívoca a presença da disciplina de mercado. Encontra-se também uma relação entre taxas de juros mais altas e um aumento de risco, identificado pela variável indicadora da qualidade dos ativos. Porém, observa-se um relacionamento negativo e significante entre a taxa de juros e a variável de tamanho do banco, o que pode significar uma percepção, pelos depositantes, de políticas voltadas para a preservação dos bancos de maior porte. Adicionalmente, há indícios de que os depositantes de bancos privados têm uma atuação disciplinadora mais intensa, enquanto aqueles que destinam seus recursos aos bancos públicos são mais sensíveis ao tamanho do banco. A conjugação dos resultados sugere a necessidade de criar-se uma estrutura para a expansão da disciplina dos depositantes no Brasil. É preciso melhorar a transparência e a divulgação de informações sobre a situação financeira dos bancos e desestimular a aparente confiança no salvamento de bancos grandes e/ou públicos. / Safe banking system is an important factor to economic and financial stability, which is the reason why it is necessary to develop tools to diminish the probability of crisis. In this context safety nets and risk-based capital requirements have been created. Since the 1990s, there have been growing discussions on a complementary mechanism to enhance the soundness of the financial system, called market discipline: the influence investors may exert on banks, encouraging them to behave in a manner consistent with their solvency. The New Basel Capital Accord includes market discipline as its third pillar, ratifying its relevance. Empirical literature on investors’ ability to discipline banks concentrates on three markets: depositors, bondholders and interbank lending market. The main goal of this dissertation is to empirically examine whether uninsured depositors respond to bank risk. This original investigation with Brazilian data is the main contribution of this work. The sample consists of data from 54 commercial banks, from 1999 to 2006. The hypothesis of the existence of discipline is tested through the estimation of econometric models which relate interest rates and change in deposits to measurements of bank risk, concerning capital adequacy, asset quality, management, earnings and liquidity. Several methods are applied to estimate the parameters of the empirical models: ordinary least squares, random effects, fixed effects and system generalized method of moments (System GMM). Diagnostic tests indicate the latter as the most appropriate one, due to the need to control for endogeneity of the explanatory variables. The data provide a few evidences favorable to the hypotheses of the presence of depositor discipline. There is an association between risk increase, measured by proxies of capital adequacy and management quality, and a negative variation of deposits. On the other hand, the negative and significant sign of the coefficient of the liquidity indicator does not allow an unequivocal confirmation that discipline is at work. There is also a relation between higher interest rates and risk increases, measured by one indicator of the quality of assets. However, a negative and significant relationship between interest rate and the size of the bank is found, which could mean that depositors conceive policies to protect larger banks. Additionally, there are indications that private bank depositors exert enhanced discipline, while those who invest their funds in public bank are more concerned about the size of the bank. The combination of these results suggests the need to create an environment in Brazil, where depositor discipline could be expanded. It is critical to eliminate any vestige of beliefs in too big to fail policies as well as on the rescue of public banks. It is also important to improve disclosure policies on banks financial conditions.

Au cours des siècles passés, la plupart des pays émergents, ont connu de graves crises bancaires. Depuis lors, ces pays nécessitent pour tant une attention particulière étant donné qu’ils sont caractérises par des marches financiers sous développes, une opacité accrue au sein de systèmes bancaires fragiles, un volume important de créances douteuses et litigieuses et parfois un environnement légal, institutionnel et réglementaire inadéquat. De là s'est posée la question sur le rôle de la réglementation bancaire comme un mécanisme indispensable pour prévenir le risque systémique, pour éviter les conséquences négatives de paniques et au maintien de la stabilité financière. Ce qui nous amène dans un premier temps, à étudier les causes et les facteurs explicatifs de la fragilité du système bancaire dans les pays émergents. Ensuite, nous citons une revue de la littérature théorique sur les fondements de la crise bancaire. Dans un second temps, nous présentons les fondements théoriques de la réglementation bancaire et son évolution. Suit à l’étude des aspects théoriques sur les fondements de la réglementation bancaire, nous allons étudier les effets de cadre réglementaire et du supervisons sur la probabilité d’occurrence des crises bancaires dans les pays émergents. Ensuite, nous effectuons une analyse descriptive des spécificités réglementaires et de supervision des secteurs bancaires dans les pays émergents, sur 21 pays d’Asie de l’Est, d’Europe et Asie centrale, et de Moyen orient et Afrique de Nord. Afin de compléter cette étude, nous réalisons un modèle Logit pour déterminer les variables explicatives de supervision et de réglementation qui expliquent le plus les crises bancaires. / Most of the emerging countries have experienced severe banking crises over the centuries which require them now to pay more attention. These countries are characterized by underdeveloped financial markets, increased opacity in fragile banking systems, a huge amount of bad and doubtful debts, and sometimes an inadequate legal, institutional and regulatory environment. This rises up the question of the role of banking regulation as an essential mechanism needed to prevent systemic risk, and to avoid the negative consequences of maintaining a financial stability. Seeking the answer for the latter question, we study here the causes and factors that explain well the fragility of the banking system in emerging countries, including a literature study on the theoretical foundations of the banking crisis, and the evolution of banking regulation. Moreover, a study on the effects of regulatory framework, and oversee of the banking crises probability in emerging markets is presented. Later, we perform a descriptive analysis of the specific regulatory and supervision of banking systems in emerging countries. This includes 21 countries from Europe East and Central, South Asia, and North Africa. Finally, we introduce a new logit model to determine the predictions of supervision and regulation that explain most of the banking crises in the presented countries.

Made available in DSpace on 2016-04-26T20:48:37Z (GMT). No. of bitstreams: 1 Fernando Dimas Lucarini.pdf: 1476810 bytes, checksum: 54a90ebc635fd18218038489a367aef7 (MD5) Previous issue date: 2012-10-18 / The international insertion of banking systems comprises two streams the entry of foreign banks into the domestic markets and the expansion of domestic banks to foreign markets. This paper analyzes the latest internationalization process of the Brazilian banking sector in the perspective of the expansion of domestic banks abroad, focusing on the deepening of this phenomenon in the post-2008 crisis, being the crisis itself one of its determinants. Besides the crisis, the concentration of the domestic banking sector and the expansion of Brazilian companies abroad are identified as factors that corroborate this process. We also present a history of the internationalization of the Brazilian banking system from the 1970s, as well as the risks and opportunities that arise with such movements / A inserção externa dos sistemas bancários contempla dois fluxos, um de ingresso de bancos estrangeiros nos mercados domésticos e outro de saída de bancos nacionais para mercados estrangeiros. Este trabalho analisa o processo mais recente de internacionalização do setor bancário brasileiro em sua perspectiva de saída de bancos domésticos, focando o aprofundamento deste fenômeno no pós-crise de 2008, sendo que a própria crise é um de seus determinantes. Além da crise, são identificadas a concentração do setor bancário nacional e a existência de multinacionais brasileiras como determinantes que explicam este processo. Apresentaremos também um histórico da internacionalização do setor bancário brasileiro a partir dos anos 1970, bem como os riscos e oportunidades que surgem com estes movimentos