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The Zero Risk Fallacy? Banks' Sovereign Exposure and Sovereign Risk Spillovers

Kirschenmann, Karolin - 2018

European banks are exposed to a substantial amount of risky sovereign debt. The “missing bank capital” resulting from the zero-risk weight exemption for European banks for European sovereign debt amplifies the co-movement between sovereign CDS spreads and facilitates cross-border...

Persistent link: https://www.econbiz.de/10012931492

The SSM at 1

Laeven, Luc; Draghi, Mario; Dombret, Andreas R.; … - SUERF - The European Money and Finance Forum; Deutsche …; … - 2016

On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...

Persistent link: https://www.econbiz.de/10011557140

A zero-risk weight channel of sovereign risk spillovers

Kirschenmann, Karolin; Korte, Josef; Steffen, Sascha - In: Journal of financial stability 51 (2020), pp. 1-15

Persistent link: https://www.econbiz.de/10012431750

Inter-temporal savings, current account dynamics and asymmetric shocks in a heterogeneous European Monetary Union

Schnabl, Gunther; Zemanek, Holger - 2010

In the current debate on the reasons and implications of the Greek and Irish euro crisis, the intra-European current … imbalances since the euro introduction and thereby the current European debt crisis. Based on this finding we argue that an … imbalances ; inter-temporal savings ; financial crisis ; euro crisis ; European debt crisis ; theory of optimum currency areas …

Persistent link: https://www.econbiz.de/10008798227

Public interventions in the European banking sector : implications for financial stability and the real economy

Borchert, Lea - 2018

Persistent link: https://www.econbiz.de/10012012954

Government guarantees and bank risk taking incentives

Fischer, Markus; Hainz, Christa; Rocholl, Jörg; … - 2014

This paper analyzes the effect of the removal of government guarantees on bank risk taking. We exploit the removal of guarantees for German Landesbanken which results in lower credit ratings, higher funding costs, and a loss in franchise value. This removal was announced in 2001, but...

Persistent link: https://www.econbiz.de/10010257239

Government guarantees and bank risk taking incentives

Fischer, Markus; Hainz, Christa; Rocholl, Jörg; … - 2014

Persistent link: https://www.econbiz.de/10010258417

Inter-temporal savings, current account dynamics and asymmetric shocks in a heterogeneous European monetary union

Schnabl, Gunther; Zemanek, Holger - 2011

Persistent link: https://www.econbiz.de/10009356814

Lender of last resort versus buyer of last resort : the impact of the European Central Bank actions on the bank-sovereign nexus

Acharya, Viral V.; Pierret, Diane; Steffen, Sascha - 2016 - This version: February 29, 2016

In summer 2011, elevated sovereign risk in Eurozone peripheral countries increased the solvency risk of Eurozone banks, precipitating a run on their short-term debt. We assess the effectiveness of different European Central Bank (ECB) interventions that followed – lender of last resort vs....

Persistent link: https://www.econbiz.de/10011436391

The Macroeconomic Policy Challenges of Balance Sheet Recession : Lessons from Japan for the European Crisis

Schnabl, Gunther - 2013

The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary monetary and fiscal policies is the hysteresis of...

Persistent link: https://www.econbiz.de/10013081055