This report examines the interplay between banking competition and financial stability, taking into account the experiences in the recent global crisis and the policy response to it. The report has been prepared by members of the Directorate of Financial and Enterprise Affairs at the OECD in Paris for the G20 Workshop “The New Financial Landscape."
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Abbreviations and acronyms Introduction Chapter 1.Competition in retail banking and financial stability -1.1 Overview -1.2. Measuring competition and market structure -1.3. Improving competition in retail banking without worsening stability -1.4. Recommendations -1.5. Intervention and exit strategies -1.6. Prudential regulation -1.7. Concluding remarks Chapter 2.Competition in derivative markets and financial stability -2.1. Overview -2.2. Derivative markets -2.3. Concentration trends in derivative markets -2.4. Derivatives and regulatory reform -2.5. High leverage in the increasingly concentrated GSIFIs -2.6. Rising interconnectedness risk as the derivatives market becomes more concentrated -2.7. Policy options Chapter 3.Bank competition and government guarantees -3.1. Motivation -3.2. The policy response to this crisis -3.3. A somewhat more entrenched perception of implicit government support? Bibliography