During the 2007–2009 financial crisis, many parties criticized aspects of accounting requirements for banks as undermining financial stability. These criticisms generally reflect the view that these requirements primarily affect stability through their effects on banks’ regulatory capital adequacy. I criti-cally evaluate whether this idea can be sustained on logical and evidential grounds. I explain how accounting requirements typically have quite small effects on banks’ regulatory capital adequacy. I discuss the plausibility of the alternative view that accounting requirements primarily affect stability by improving banks’ understanding of their risks and their transparency to markets and regulators. Because securitization is the setting in which banks’ regulatory capital adequacy is most likely to be significantly affected by accounting requirements, I describe empirical research on significant changes in securitization accounting effective in 2010. I explain how even in this setting regulatory capital ...

中文翻译：

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会计要求对银行监管资本充足率的影响是否会破坏金融稳定性？

在2007年至2009年的金融危机期间，许多政党批评银行会计要求的某些方面损害了金融稳定性。这些批评通常反映了这样一种观点，即这些要求主要通过影响银行监管资本充足率而影响稳定性。我批判性地评估了这个想法是否可以在逻辑和证据的基础上得以维持。我将解释会计要求通常如何对银行的监管资本充足率产生很小的影响。我讨论了另一种观点的合理性，即会计要求主要通过提高银行对风险的认识以及对市场和监管机构的透明度来影响稳定性。