Based on a sample of 63 listed European banks, this paper investigates the relationship of capital and asset quality, in terms of provisioning and coverage policies, with bank risk and performance during the period 2005Q1-2018Q4. Our results point out different relationships between risk-based and non-risk-based measures of capital with bank risk and performance profiles. In particular, the information content of the leverage ratio appears to be merely related to the bank dimensional feature, whereas the total capital ratio shows a positive and statistically significant relationship with bank stability and is also negatively related to insolvency risk, thereby suggesting a crucial role for capital for the overall bank resilience. In addition, more capitalized banks are associated with higher bank performance. Regarding asset quality, hefty coverage and provisioning policies are generally associated with both lower bank resilience and performance. These results are relevant for disentangling the implications that the regulatory overhaul set out to address the NPLs issue is having on banking activity.

本文以 63 家欧洲上市银行为样本，研究了 2005 年第一季度至 2018 年第四季度期间资本和资产质量在拨备和覆盖政策方面与银行风险和业绩的关系。我们的结果指出了基于风险和非基于风险的资本计量与银行风险和绩效概况之间的不同关系。特别是，杠杆率的信息内容似乎仅与银行维度特征有关，而总资本比率与银行稳定性呈正相关且具有统计学意义，与破产风险也呈负相关，从而暗示了至关重要的作用。为银行的整体弹性提供资金。此外，资本充足的银行与更高的银行业绩相关。关于资产质量，高覆盖率和拨备政策通常与较低的银行弹性和绩效有关。这些结果有助于理清为解决不良贷款问题而进行的监管改革对银行活动的影响。