CRD IV: An Asset for French and European Banks

Christian Noyer Gouverneur honoraire, Banque de France ; ancien président, Banque des règlements internationaux (BRI). Contact : joelle.mesple-dufour@banque-france.fr.


The CRD IV package, which transposes Basel III in Europe, is an unprecedented effort to foster financial stability within the European banking system. Compared to what is being done in the United States, the implementation of Basel III is broader and more homogeneous. European institutions have already very significantly improved their financial situation. They are often as healthy and efficient as US banks, provided that discrepancies between the accounting and regulatory standards are correctly factored in. Indeed, the differences between the observed leverage ratios of European and American banks come from accounting standards for the most part.


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Footnotes

Gouverneur, Banque de France.

1   Sans tenir compte des excédents dont disposent d'ores et déjà de nombreuses banques.

2   Global systemically important financial institutions.

3   Domestic systemically important financial institutions.

4   La réforme Bâle II avait introduit le concept de trois piliers : pilier 1, exigences minimales de fonds propres ; pilier 2, processus de surveillance prudentielle ; pilier 3, discipline de marché.

5   Voir CSF (2012).

6   Sans tenir compte des excédents dont disposent déjà de nombreuses banques.

7   Voir, par exemple, Le Leslé et Avramova (2012).


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