Bailing out the Banks: Reconciling Stability and Competition
Thorsten Beck, Diane Coyle, Paul Seabright, Xavier Freixas, 18 February 2010
This report assesses two related aspects of the policy response to the unprecedented financial crisis: competition policy and financial regulation. It addresses both the effectiveness of the response to the current crisis, and the lessons that can be drawn in order to reduce the likelihood of future crises.
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Table of Contents
1. Why are banks special?
2. Bank competition and financial stability
3. Origins and initial impact of the banking crisis
4. Bank bailouts: their purpose, risks and implications for burden sharing
5. Competition implications of bailouts
6. An evaluation of DG Competition's strategy
7. Preventing future crises: reforming prudential regulation