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Forschungsstelle für Genossenschaftswesen

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Browsing Forschungsstelle für Genossenschaftswesen by Subject "Institutional protection scheme"

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    Eigenkapitalmanagement in Genossenschaftsbanken vor dem Hintergrund von Basel III
    (2018) Reifschneider, Annika; Doluschitz, Reiner
    How will German cooperative banks face the dare of the new Basel III framework now and in the future? This cumulative doctoral dissertation should provide an insight into the results to this question. The sequencing as the methodical concept was choosen to establish a profound impression of the possible concequences of the increased worldwide acknowledged requirements within the supervision system of the banking sector. The combination of methods, the sequencing, seemed to be applicative, due to the fact that there is only very limited availability of appropriate literature when analysing specific consequences and impacts of new established standards. During the conception of the questionnaire for the broadly based online survey the choosen methodical approach and the implementation of two consecutive empirical studies enables to fall back to the results of the guided interviews with finance experts. At last case analyses were carried out, refering to the findings of the online survey. Diverse and meaningful results were obtained through the analysis of the availiable data – the results of the interviews and the evaluation of the available secondary literature. The following section will provide a brief résumé of the achived results: The cooperative banks with their unique company culture is based on a specific governance structure and the guidance on values of the traditional legal status registered governance. Certain principals and values were identified as reasons for the efficiently overall system. Of particular interest are the self-help principle and the principle of democracy as well as certain values such as the cooperative mission of promoting the members, transparency and a high equity capital ratio. In addition the cooperative institution guarantee provides more than the legal regulations of deposit protection. It ensures both the bankruptcy protection within the affiliated companies of the FinanzGruppe and the comprehensive protection of all bank client deposits. Certain experts have raised critical objections such as the danger of a Moral Hazards. Those critics can be encountered by indicating to the reduction of the asymmetrie of information, which is based on the transparent corporate management. The communication contributes sharing the important cooperative values and general principles of the executive board as well as it supports a long-term membership and customer loyalty. The co-operative objective to advance and support their members is even fixed in §1 German Cooperatives Act (§1 GenG). At the same time the memberhip itself is an important and reliable aspect regarding the generation of equity capital which plays a central role concerning the introduciton of basel III. Within this context there are for sure common equity instruments like creation of deposit money and interest income. Furthermore the payings of the members are a possibiliy to rise equity capital. With regards to this it has to be noted that the cooperative shares can not be freely transferred, they do belong to a defined person. So if a person quits the cooperative the share capital of the Cooperative will be reduced. Cooperatives are not forced to hold a certain amount of capital stock. The share capital of each member builts the actually available liquid funds of the institutions. In addition the explained combined system with the DZ BankAG as highly quoted credit institution does a significant bit for the generation of equity capital. For instance an important aspect is the sourcing of mezzanine capital at the capital markets which is realized through the DZ BankAG. Within the following years it is recommanded to closely monitor the actual impacts and effects resulting from Basel III. According to this empirical research in general the cooperative banks should be able to cope with the challenges and consequences. Of course adaptions and changes are inevitable in some areas. But concerning to the fact the cooperative banks have quite strengthened during the recent times of crisis it should be safe to say that the cooperative banking group is going to stay a competitive structure within the credit intitutions in Germany. The recent banking crisis has shown that in opposite to many of the global Systemically Important Banks the co-operative banks with their regionwide branch network of often small structured primary banks overcame this challenge very well. This fact should be noticed by establishing the new regulatory framework Basel III.