The consolidation of prudential policies in Europe in the face of the interdependence of the various banking businesses.

Summary The interdependence between the various banking businesses has increased considerably over the last two decades. Indeed, financial globalization has increased the porosity between the different banking businesses, particularly during shocks which, although initially limited to a segment of the banks' activity, now rapidly contaminate the banks' overall financial health. This state of affairs is supported by the subprime crisis. The failure of banking regulation revealed through the global financial crisis compels us to re-examine the current regulatory regime and to place great importance on regulatory reforms in the banking system. The objective of this thesis is to identify the shortcomings of banking regulation and to analyze avenues of regulatory reform to address these shortcomings of the current regulatory regime. This thesis provides empirical evidence that the joint implementation of a high leverage strategy and a risky liquidity strategy has destabilized banks in recent years. Future regulations should therefore focus on the complementarity between capitalization regulation and liquidity regulation. In line with these empirical results, this dissertation finally proposes a theoretical framework to show that considering liquidity regulation as the complement of capitalization regulation is socially optimal.