摘要：The Basel Committee promulgates bank regulatory standards,
including capital surcharges for global systemically
important banks (G-SIBs). Our analysis suggests that the
Basel III capital surcharge framework underestimates the probability
of bank failure, wrongly disregards short-term funding,
and excludes too many banks; our baseline estimate suggests
surcharges should increase 3.00 to 8.25 percentage points and
that even higher surcharges should apply to G-SIBs that rely
on short-term funding. Our findings, which do not account for
Basel III beyond the capital surcharges, may differ from the
findings of a comprehensive analysis of Basel III.
