Levy, Aviram; Zaghini, Andrea - Banca d'Italia - 2010
We examine the effects of the government guarantee schemes for bank bonds adopted in the aftermath of the Lehman … Brothers demise to help banks retain access to wholesale funding. We describe the evolution and the pattern of bond issuance … new market, namely the significant �tiering� of the spreads paid by banks at issuance, finding that they mainly …