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From the magazine SZW-RSDA 6/2018 | S. 588-597 The following page is 588

Ursachen der Finanzkrise und seitherige Regulierungsentwicklung

A number of causes have triggered the crisis such as subprime mortgage loans in the US, the lack of regulation of derivatives and also remuneration systems which set wrong incentives. The crisis lead to the abolishment of the banking secrecy at the international level. It was replaced by the automatic exchange of information in tax matters which is now the standard. The crisis initiated the discussion about «too big to fail». Although the rescue of UBS was a success, more regulation regarding this subject is to be expected. System-relevance and protection of the financial system are the key objects. Furthermore, the crisis has enlarged the area of activity of central banks. Today, the goal is no longer simply to protect creditors but to protect the system as a whole. Still, sufficient equity capital in relation to the risk weighted assets of a bank are indispensable to protect the creditors and the activitites with systematic-relevance. In addition, the demand of sufficient liquidity…

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