Systemic risk capital

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The still unfolding financial crisis has shown the horribly difficult policy dilemma posed by financial institutions that are 'too big to fail'. This is a situation that evolved gradually and was driven by some perfectly sound public policy arguments. The key driver of consolidation in the banking sector has been improved diversification of the balance sheet - banks that are constrained geographically are naturally prone to excessive portfolio concentration. Being especially familiar with their

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