期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2014
出版社：European Central Bank
摘要：We find that the increased use of securitization activity in the banking sector prior to the 2007-2009 crisis augmented the effect of competition on realized bank risk (i.e. more intensecompetition and greater use of securitization is correlated with higher levels of realized risk)during the crisis. In contrast, higher levels of capital did not buffer the impact of competition onrealized risk. It follows that cooperation between supervisory and competition authorities iswarranted to account for the stability implications of financial innovation and capital regulation
