tailieunhanh - THE EUROPEAN CENTRAL BANK: HISTORY, ROLE AND FUNCTIONS

Alternatively, banks may be optimising their capital structure, possibly much like non- financial firms, which would relegate capital requirements to second order importance. Flannery (1994), Myers and Rajan (1998), Diamond and Rajan (2000) and Allen et al. (2009) develop theories of optimal bank capital structure, in which capital requirements are not necessarily binding. Non-binding capital requirements are also explored in the market discipline literature. 4 While the literature on bank market discipline is primarily concerned with banks’ risk taking, it also has implications for banks’ capital structures. Based on the market view, banks’ capital structures are the. | EUROPEAN CENTRAL BANK EUROSYSTEM HISTORY ROLE AND FUNCTIONS BY HANSPETER K. SCHELLER SECOND REVISED EDITION 2006 EUROPEAN CENTRAL BANK EUROSYSTEM THE EUROPEAN CENTRAL BANK HISTORY ROLE AND FUNCTIONS BY HANSPETER K. SCHELLER SECOND REVISED EDITION 2006 European Central Bank 2006 Address Kaiserstrasse 29 60311 Frankfurt am Main Germany Postal address Postfach 16 03 19 60066 Frankfurt am Main Germany Telephone 49 69 1344 0 Internet http Fax 49 69 1344 6000 Telex 411 144 ecb d All rights reserved. Reproduction for educational and non-commercial purposes is permitted provided that the source is acknowledged. Photographs Claudio Hiỉs Martin Joppen Robert Metsch and Martin Starl European Community European Parliament International Monetary Fund. The cut-off date for the data included in this book was 30 September 2006. ISBN 92-899-0022-9 print ISBN 92-899-0027-X online

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