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A Credible Path for Ending Too Big to Fail

机译:终结失败大局的可靠途径

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摘要

The high degree of concentration in the U.S. financial system has been intensified in the wake of the 2007-09 financial crisis. Implicit government support of banks that are deemed "too big to fail" has resulted in excessive risk taking and a focus on short-term rewards rather than long-term performance. This paper proposes a three-step plan to limit the federal safety net to commercial depository institutions and to restructure institutions so that no one institution poses systemic risk in the event of failure and that the largest banks face the same kind of risks of closure and market risk as the smallest.
机译:在2007-09年金融危机之后,美国金融体系高度集中化。政府对那些被认为“太大而不能倒闭”的银行的隐性支持导致了过度冒险,并把重点放在了短期奖励而非长期绩效上。本文提出了一个三步计划,将联邦安全网限制于商业存款机构并进行机构重组,以使没有一个机构在破产时承担系统性风险,而最大的银行也面临着同类型的关闭和市场风险。风险最小。

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