relation: http://eprints.imtlucca.it/2185/
title: Systemic importance of financial institutions: regulations, research, open issues, proposals
creator: Bonollo, Michele
creator: Crimaldi, Irene
creator: Flori, Andrea
creator: Pammolli, Fabio
creator: Riccaboni, Massimo
subject: HB Economic Theory
subject: HD61 Risk Management
subject: HJ Public Finance
description: In the field of risk management, scholars began to bring together the quantitative methodologies with the banking management issues about 30 years ago, with a special focus on market, credit and operational risks. After the systemic effects of banks defaults during the recent financial crisis,  and despite a huge amount of literature in the last years concerning the systemic risk, no standard methodologies have been set up to now. Even the new Basel 3 regulation has adopted a heuristic indicator-based approach, quite far from an effective quantitative tool. In this paper, we refer to the different pieces of the puzzle: definition of systemic risk, a set of coherent and useful measures, the computability of these measures, the data set structure. In this challenging field, we aim to build a comprehensive picture of the state of the art, to illustrate the open issues, and to outline some paths for a more successful future research. This work appropriately integrates other useful surveys and it is directed to both academic researchers and practitioners.
publisher: IMT Institute for Advanced Studies Lucca
date: 2014-03
type: Working Paper
type: NonPeerReviewed
format: application/pdf
language: en
identifier: http://eprints.imtlucca.it/2185/1/EIC_WP_2_2014.pdf
identifier:   Bonollo, Michele and Crimaldi, Irene and Flori, Andrea and Pammolli, Fabio and Riccaboni, Massimo  Systemic importance of financial institutions: regulations, research, open issues, proposals.  EIC working paper series  #2/2014    IMT Institute for Advanced Studies Lucca    ISSN 2279-6894.