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Too connected to fail : ウィキペディア英語版 | Too connected to fail The “too connected to fail” (TCTF) concept refers to a financial institution which is so connected to other institutions that its failure would probably lead to a huge turnover in the whole system.〔Haldane, A.G. & May R. M. (2011). Systemic Risk in Banking Ecosystems. ''Nature''. 2011 Jan 20;469(7330):351-5. doi: 10.1038/nature09659.〕 Contrary to the “too big to fail” theory, this approach takes into consideration the highly connected network feature of the financial system rather than the absolute size of one particular institution. == Relevance of TCTF: systemic risk ==
The 2007/2008 financial crisis highlighted that a small turmoil can cause a big fallback in the financial system – mainly because financial institutions form a highly interconnected network. From a network science point of view this means that some nodes (institutions) have very high degree, i.e. they are linked to many other nodes. As a consequence, they play a central role in the system, which can be highly important in the case of disturbances.〔Chan-Lau, J. A. (2010). Balance Sheet Network Analysis of Too-Connected-to-Fail Risk in Global and Domestic Banking Systems. ''IMF Working Paper''. WP/10/107. April 2010.〕 Recognition of this effect led to the revival of macroprudential regulation.
抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)』 ■ウィキペディアで「Too connected to fail」の詳細全文を読む
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