Andrieş, Alin Marius; Fischer, Andreas M.; Yeşin, Pınar - 2015
This paper investigates the impact of international swap lines on stock returns using data from banks in emerging … markets. The analysis shows that swap lines by the Swiss National Bank (SNB) had a positive impact on bank stocks in Central … strongly to SNB swap lines. This new evidence is consistent with the view that swap lines not only enhanced market liquidity …