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The Economics of Capital Regulation in Financial Conglomerates


Alan D. Morrison


University of Oxford - Said Business School; University of Oxford - Merton College
August 2002

Oxford Financial Research Center Working Paper No. 2002-FE-08

Abstract:     
Financial conglomerates combine banking, insurance and other financial services within a single corporation. In this non-technical paper I consider the rationale for capital regulation in such firms and I examine some current policy questions in the light of this discussion. My first conclusion is that the different institutional structure of bank and insurance companies mitigates against harmonisation of capital requirements across different conglomerate businesses. I also question the received industry view that regulators should account for diversification effects at the holding company level.

Number of Pages in PDF File: 17

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Date posted: October 18, 2002  

Suggested Citation

Morrison, Alan D., The Economics of Capital Regulation in Financial Conglomerates (August 2002). Oxford Financial Research Center Working Paper No. 2002-FE-08. Available at SSRN: http://ssrn.com/abstract=331040 or http://dx.doi.org/10.2139/ssrn.331040

Contact Information

Alan Morrison (Contact Author)
University of Oxford - Said Business School ( email )
Department of Finance
Park End Street
Oxford OX1 1HP
United Kingdom
+44 18 6527 6343 (Phone)
+44 18 6527 6310 (Fax)
University of Oxford - Merton College
Merton Street
Oxford OX1 4JD
United Kingdom
+44 18 6527 6343 (Phone)
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