Bakgrund: 1990-talskrisen och dagens finanskris har liknande uppkomst som härleds till alltför generös utlåning. Som följd uppkom stora kreditförluster i majoriteten av bankerna. För att öka riskmedvetenheten hos bankerna samt för att stabilisera den finansiella ekonomin finns myndigheter och kommittéer som övervakar och sätter regler för hur bankverksamheten skall fungera.      Syfte: Syftet med denna studie var att undersöka om, och i så fall hur, kreditgivningsprocessen mot privatpersoner har förändrats genom åren. Vi ville studera om Baselrekommendationerna och andra regelverk har fått en direkt påverkan på bankernas sätt att hantera dessa krediter.  Genomförande: För att uppnå studiens syfte har vi genomfört semistrukturerade intervjuer med anställda på de fyra svenska storbankerna samt med en senior analytiker på Finansinspektionen. Den insamlade empirin analyserades sedan utifrån gällande teori inom området. Resultat: Majoriteten av bankerna har ändrat sin kreditprocess sedan 1990-talet och gått från pantbelåning med säkerheten i fokus, till att använda kassaflödesbelåning. Därför har återbetalningsförmågan blivit allt viktigare. Bankerna menar vidare att de blivit mer restriktiva med beviljning av lån över 85 procent av fastighetens värde till följd av bolånetakets införande. Riskbenägenheten har även den minskat sedan 1990-talet, med undantag för Handelsbanken som redan under 1990-talet fokuserade på krediter med hög kvalité. Kreditprocessen och arbetssätten hos bankerna beskrivs nu som utförda med mer noggrannhet. För privatpersoner har det generellt sett blivit svårare att få en kredit eftersom kreditprocessen är mer utförlig och noggrann nu samtidigt som kraven på högre kontantinsats och amortering har ökat. / Background: The crisis of the 1990s and today’s financial crisis have similar origin, which can be derived from over-generous lending. As a consequence, big credit losses appeared in the majority of the banks. To increase the risk awareness among the banks and to stabilize the financial economy there are authorities and committees that supervise and regulate the activity of the banks.    Aim: The aim of the study was to investigate if, and if so how, the credit process to private individuals has changed over the years. We also wanted to study if the regulations of Basel and other regulations have made an impact on banks’ ways of handling credits. Process: To reach the aim of the study, we have been carrying out semi-structured interviews with employees at the four big Swedish banks and also with one senior analyst at Finansinspektionen. The collected empirical data was then analyzed using existing theory in the subject. Findings: The majority of the banks have changed their credit process since the 1990s and gone from mortgage with focus on pawn to using mortgage with focus on cash flows. Therefore, the ability of repayment has been even more important. The banks applies that they have been more restrictive about granting loans over 85 per cent of the real estate’s value due to the introduction of the “bolånetak”. The risk taking among banks has also changed since the 1990s, with the exception of Handelsbanken who during the 1990s already focused on credits with high quality. The credit process and the banks’ ways of working are now done with more strictness. In general, private individuals have met more difficulty while applying for a credit now since the credit process is more thorough, simultaneously with higher demand for down payment and amortization.

Banker fyller viktiga funktioner i samhället och fungerar som finansiella mellanhänder som tillhandahåller betalningstjänster. Bankers krediter är viktiga för den svenska ekonomins utveckling och progression. Krediter fyller många funktioner och behov i samhället och organisationer och stater är beroende av välfungerande kreditsystem. Banker är speciella aktörer eftersom de regleras starkare än andra företag och förändringar i banksystemen kan tas emot med motstånd. Förändring i detta hänseende är då Baselkommitten skruvar på parametrarna och ökar kapitalkraven för bankerna. Företagskrediter blir av högre omfattning eftersom de oftast har längre löptid än bankernas inlåning vilket kan generera likviditetsbrist. Banker är väldigt känsliga eftersom det rör stora belopp och systemförändringar kan innebära förluster av stora belopp. Störningar i bankers system kan få en spridningseffekt till andra banker vilket hotar hela ekonomin (Lind, 2005). Studiens syfte är därför att bidra med ökad förståelse för vilka effekter kapitalkraven i Basel II medför för svenska storbankers krediter. Studiens teoretiska förhållningssätt utgår från nyinstitutionella teorin genom ett legalt perspektiv som undersöker legala förändringars påverkan på bankers krediter. Teorin omfattar koncept som anknyts till problematiseringen för att kunna möjliggöra en analys. Tidigare forskare som undersökt Basel II regelverket har beaktats till exempel Hakenes och Schnabel, (2011), Wahlström (2009), Repullo och Suarez (2004), Ruthenberg och landskroner (2008) och Rime (2005).  Studien beaktar kvalitativ undersökning, bestående av nio semistrukturerade intervjuer i fyra storbanker. Studien har tillämpat deduktiv ansats och forskningsfilosofin interpretivism för öka förståelsen för hur ökade kapitalkrav påverkat storbankerna.   Studiens resultat visar i likhet med tidigare forskare att storbanker kommer att implementera IRK metoden eftersom denna omfattar differentierad prissättning med större beaktande till riskaspekter.  Studien visar att Basel II har möjliggjort för storbankerna att fokusera på lågriskkunder eftersom det innebär att mindre kapital behöver hållas. Studien visar även att i kontrast mot tidigare forskning så minskar kapitalkraven riskincitamenten för bankerna eftersom kapitalkraven medför en rättvisare bild av riskerna. Studiens resultat är att kapitalkraven har ökat bankernas kapitaltäckningsgrad och utlåningsräntan, men inte kreditvolymerna. / Banks fulfill important functions in society and work as financial intermediaries that provide payment services. Banks loans are important for the Swedish economy's development and progression. Credits fill many functions and the needs of society and organizations and the Member States is dependent on effective credit system. Banks are special operators since they are governed stronger than other companies and changes in banking systems can be received with resistance. Change in this respect is then Basel committee bolts on the parameters and increase capital requirements for banks. Credit will be of greater extent because they usually have a longer duration than bank deposits which can generate liquidity. Banks are very sensitive because the large amount and system changes can mean losses of large amounts. Interference in banks' systems can have a knock-on effect to other banks, which threatens the entire economy (Lind, 2005).   The study theoretical approach deleted from new institutionalism theory through a legal perspective which examines legal changes impact on banks' credits .Theory has focused on concepts that reconnects with problem to be able to provide an analysis. Previous researchers who have examined Basel II regulatory framework has been taken into account for example, Hakenes and Schnabel (2011), Wahlström (2009), Repullo and Suarez (2004), Ruthenberg and Landskroner (2008) and Rime (2005). The study takes into account qualitative study, consisting of nine semi-structured interviews in four major banks. The study has applied deductive approach and the research philosophy hermeneutics to increase the understanding of how increased capital adequacy affected banks.   The study results show in the same way as with previous researchers that banks will implement IRK method because this includes differentiated pricing with greater regard to risk aspects. The study shows that, Basel II has made it possible for banks to focus on low risk customers because it means that less capital need to be kept. The study also shows that, in contrast to previous research, the capital requirements reduce banks risk incentives because capital requirements will result in a fairer picture of the risks. Results of the study are that capital requirements have increased the banks’ capital adequacy ratio and the lending rate, but does not affect the credit volumes.

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.

xi Abstract This thesis aims to provide eclectic legal and economic insight into the history, current principles and possible future development of bank capital adequacy regulation. We have worked with a variety of legal and economic literature and official Basel Committee publications. Our goal was to explore the economic background behind the Basel standards and find its legal ramifications and the incentives they create. In the first chapter, we analyze the economic rationale for banking regulation, explain possible methods of bank capital regulation and juxtapose them with other means of regulatory measures in the field of banking. The first chapter also gives overview of the Basel I framework, its implementation process, describes its utilization of new regulatory techniques, as well as its weaknesses. Second chapter provides overview of Basel II approval process and discusses its transparency and institutionary framework. Problematic issues of CRD directive in the Czech Republic are discussed in contrast with norms of due legislation process. In the next chapter, we describe the mechanics of the Basel II framework. In greater detail, we focus on the issues of securitization, off-balance sheet exposures and methods of "promise-shifting" in the financial system. Examples are used to illustrate the...

Syftet med studien var att undersöka vilken inverkan den senaste finanskrisen och de internationella ramverken har haft på de svenska respektive danska bankernas bolåneräntor. Studien eftersträvade även att undersöka vilka likheter och skillnader som finns mellan olika typer av banker samt mellan de korta respektive de långa bolåneräntorna. Författarna valde att använda sig av en kvalitativ metod med en deduktiv ansats som tillvägagångssätt. Det genomfördes kvalitativa intervjuer med personer vid ett antal noga utvalda banker för att ge en så bra och detaljerad bild som möjligt av problemområdet. Respondenterna fick stort utrymme att föra sina egna diskussioner för att vidare mynna ut i väldefinierade resultat. Resultatet av denna studie visar att svenska och danska banker är positivt inställda till införandet av de nya bestämmelserna och tror att det kommer bidra till en stabilare marknad. Finanskrisen har lett till att bankernas finansieringskostnader har ökat liksom användandet av ränteswappar. Bankerna finansierar även sin verksamhet på längre sikt vilket gör att den blir dyrare att bedriva.

Diplomová práce se zabývá vývojem a současným stavem pravidel kapitálové přiměřenosti se zaměřením na Novou basilejskou kapitálovou dohodu z roku 2004 (Basel II). Vysvětluje problematiku kapitálové přiměřenosti a její úpravu v České republice. Věnuje se Basilejské kapitálové dohodě (Basel I), podrobně rozebírá pravidla Basel II, zabývá se jejich porovnáním a implementací nových pravidel v Evropě, Spojených státech amerických a České republice. Další část popisuje kvantitativní studie dopadů, nedostatky a kritické připomínky zavádění nového konceptu včetně nastínění možných dopadů v budoucnosti. Poslední kapitola se zabývá pravidly Solvency II pro pojišťovny a jejich porovnáním s pravidly Basel II.

In the first chapter the paper is focused on sovereign rating, it describes the history and explains the basic characteristics in the context of its usual usage. In the second chapter the basics behind the Arrangement on Officially Supported Export Credits are explained. Because the main purpose of this paper is to compare sovereign rating and the country risk classification based on the Arrangement, the chapter focuses especially on the Knaepen Package that introduced country risk classification to the Arrangement. In the chapter there is also the introduction to the Malzkuhn-Drysdale Package. In the third and fourth chapter sovereign ratings and county risk classifications are compared on theoretical basis. There were used several different criteria, e.g. methodology of rating/classifying, time necessary for adjustment and criteria for evaluation. The fifth chapter is focused on Basel I-III, the connection between Basel capital adequacy and both credit risk evaluation systems is explained. In the following chapter, the question of guilt of rating agencies and their role in the outbreak of financial crisis is discussed. The last chapter is based on the case study that describes the difference between development of financial crisis in Italy and Greece and its impact on rating grades and country risk classification.

This thesis deals with the regulatory rules issued by the so-called. Basel Committee on Banking Supervision. It is an informal organization without legal personality, which operates at the Bank for International Settlements, and her published documents lack legally binding. This work has focused on two areas of activity of the Basel Committee - capital adequacy and corporate governance in the banking sector. Basel Committee on Banking Supervision is a leading authority in the field of banking regulation, which dates back to the mid-70s of the 20th century. The Basel Committee is composed of the governors of the central banks of the member states and organizations and currently represents a major authority in the banking, because the content of the documents of the Basel Committee incorporated into their legal systems for more than 100 countries worldwide. Basel Committee began issuing complex documents capital adequacy in July 1988, when the first document was posted under the abbreviated name of Basel I. Although it was a very imperfect adjustment and largely based on compromises rather than deeper analysis, Basel I meant the first major step towards supranational control of the capital adequacy of banks in order to eliminate the risks arising from their activities. Although, as with other...

1999年國際清算銀行巴塞爾銀行監督管理委員會發布了新巴塞爾資本協定架構，歷經多次討論修改後，於2004年6月公告新版巴塞爾資本協定(Basel Accord II)，並將於2006年底開始施行。我國金管會於93年9月亦發函銀行業者並公佈因應新制協定相關措施，期能在2006年底與國際同步正式實施,這不僅是國際金融史上重要的大事,也是我國金融史上重要的里程碑,因為它的象徵意義顯示出我國金融業風險管理制度的提升跨向國際同步的企圖心。 本研究從探討新舊版巴塞爾資本協定內涵的差異到我國金管會與銀行業者 因應新制的準備概況,繼而以C銀行為例說明,並聚焦在執行信用風險管理內部 評等模型法(IRB法)之前與之後銀行對服務業的中型與中小型企業授信融資之影響進行實證研究,本研究隨機抽取96家企業授信案件並假設了11項參考變數 分別為: 信評等級、額度、期間、授信產品項目數、擔保比率、風險成本率、台幣放款利率、權限核章人數、申貸流程所需天數、授信主力銀行、授信控管條件項目數等,作為銀行執行新舊不同信用風險評等模型制度對企業授信融資的差異 研究重點。 實證研究結果:(1)各假設變數中僅風險成本率與授信產品項目數兩項在新 舊不同制度中具顯著差異的。(2)較佳的信評等級所具有的融資優勢程度在新制度執行後更顯相對重要。(3)面對中、小型企業,銀行徵提擔保品、增加擔保率是最快速有效降低風險成本率的方法。(4)新制施行初期難敵市場壓力反應成本利率價格。(5)從有無內外帳企業的信評等級結果發現其對融資條件的影響有顯著差異。(6)是否為家族企業，不因新制施行受到差別影響。 本研究並提出建議:(1)政府應繼續並擴大對於中小企業信用基金保證規模 ,尤其應考慮修改服務業產業之中小型企業規模定義。(2)銀行應審慎面對信用評等與融資報價條件之間的兩難。(3)中小企業應加強經營制度透明化,尤其在財務會計制度方面。(4)銀行應加強對企業之產業瞭解深度以利授信金融商品創新與包裝架構。(5)銀行應重新審視績效考核管理機制。(6)銀行實施新制後應每年檢核模型歷史資料,把景氣變動因子列入修正參考。

Η πολύπλοκη μορφή που απέκτησαν οι χρηματοοικονομικές αγορές κατά τη διάρκεια των δύο τελευταίων δεκαετιών, είχε ως αποτέλεσμα την απώλεια πολύ υψηλών κεφαλαίων από τις επιχειρήσεις και από τις τράπεζες. Η ανάγκη για συστηματική μέτρηση του χρηματοοικονομικού κινδύνου οδήγησε στην επινόηση του μεγέθους της αξίας σε κίνδυνο (Value-at-Risk, VaR). Η μέθοδος αυτή παρέχει στον ενδιαφερόμενο έναν αριθμό που εκφράζει τη μέγιστη αναμενόμενη ζημία μίας επένδυσης για δεδομένη χρονική περίοδο και δεδομένο επίπεδο εμπιστοσύνης. Παρά το γεγονός ότι η VaR έχει κάποιους περιορισμούς που απαιτούν τη χρήση stress test και scenario test, συνολικά, η VaR είναι η καλύτερη ανεξάρτητη τεχνική μέτρησης των κινδύνων που είναι διαθέσιμη. Στόχος της παρούσας διπλωματικής εργασίας είναι η μέτρηση της VaR ενός χαρτοφυλακίου. Επιπλέον, μέσα από αυτήν την εργασία θα γίνει κατανοητό τι είναι η VaR, πώς μπορεί να υπολογιστεί, ποια είναι τα κύρια χαρακτηριστικά της και ποια είναι τα πλεονεκτήματα και τα μειονεκτήματά της. Τέλος, ιδιαίτερη έμφαση δίνεται στην παρουσίαση των μεθόδων υπολογισμού της VaR. / The inextricable form of the financial markets during the last two decades result in the loss of high capital from the businesses and banks. The need of a systemic measurement of the financial risk leads to the invention of the Value-at-Risk method. This method provides the interested person with a number which expresses the potential maximum loss of an investment for a given period of time and a given confidence level. Despite the fact that VaR has some restrictions demanding the use of stress test and scenario test, altogether, VaR is the best independent measuring technique of the risks that it is available. The aim of this dissertation is to measure the VaR of a portfolio. Moreover, it will be registered what VaR is, how it can be measured, which are its main characteristics, its advantages and disadvantages. Lastly, more emphasis is given to the presentation of the measuring methods of VaR.