The value of being systemically important financial institution

Paola Bongini, Maria Luisa Di Battista, Laura Nieri

Research output: Chapter in Book/Report/Conference proceedingChapter


We investigate whether financial markets reacted to the regulatory change implied by the publication of the SIFIs list and the new rules designed to address the too-big-to fail problem of systemic banks. Using event study methodology applied to a sample of 70 of the world’s largest banks, we assess whether following the methodology used to identify SIFIs and their new capital requirements and the disclosure of the former list of 29 SIFIs stock prices of SIFIs reacted significantly and differently from those of other large banks, not deemed to be systemically important. Overall, we find that financial markets did not strongly react to the new regulation regarding SIFIs.
Original languageEnglish
Title of host publicationLa banca commerciale territoriale nella crisi dei mercati
Number of pages19
Publication statusPublished - 2012
Externally publishedYes


  • Systemic risk
  • event study
  • financial institutions
  • regulatory reforms


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