Narrow search
Showing 1 - 10 of 100
Cover Image
Are Sovereign Wealth Funds contrarian investors?
Ciarlone, Alessio; Miceli, Valeria - Banca d'Italia - 2014
This paper investigates the determinants of the investment activity of Sovereign Wealth Funds (SWFs) at a macro level, with special emphasis on the possible reaction to a financial crisis in a potential target economy. The analysis relies upon a specially built proprietary database, which...
Persistent link: https://www.econbiz.de/10011099703
Cover Image
The sovereign credit default swap market: price discovery, volumes and links with banks' risk premia
Carboni, Alessandro - Banca d'Italia - 2011
This paper looks into the sovereign credit default swap (CDS) market from two perspectives. First, it analyses the … relation between CDS and bond spreads. The results on a single-entity basis suggest that the CDS market leads the bond market …. An event-study, which compares the reaction of sovereign CDS and bond markets to policy announcements in Europe, suggests …
Persistent link: https://www.econbiz.de/10009320174
Cover Image
Euro Area (cross-border?) banking
Bologna, Pierluigi; Caccavaio, Marianna - Banca d'Italia - 2014
This paper presents stylized facts of the segmentation of the Euro Area (EA) banking system and investigates cross-border banking dynamics. Results show that the determinants of cross-border banking change substantially over-time: (i) in the pre-crisis period of financial integration the...
Persistent link: https://www.econbiz.de/10011100404
Cover Image
Lessons learned from the financial crisis for financial stability and banking supervision
Vincenzo, Alessio De; Freni, Maria Alessandra; … - Banca d'Italia - 2010
The financial crisis that began in 2007 has revealed a need for a new supervisory and regulatory approach aimed at strengthening the system and containing the risk of future financial and economic disruptions. Three ingredients are needed to ensure financial stability: robust analysis, better...
Persistent link: https://www.econbiz.de/10008764794
Cover Image
Countercyclical contingent capital (CCC): possible use and ideal design
Martino, Giuseppe De; Libertucci, Massimo; Marangoni, Mario - Banca d'Italia - 2010
Contingent capital � any debt instrument that converts into equity when a predefined event occurs � has received increasing attention as a viable tool for allowing banks to raise capital when needed at relatively more affordable prices than common equity. While the debate has focused...
Persistent link: https://www.econbiz.de/10008677915
Cover Image
Financial innovation oversight: a policy framework
Carlo, Gola; Antonio, Ilari - Banca d'Italia - 2013
This paper proposes a policy framework for intercepting, monitoring and containing the unintended harmful effects of financial innovation. The current approach, adopted by several authorities, makes extensive use of the tools of transparency and disclosure, mainly for consumer protection. It has...
Persistent link: https://www.econbiz.de/10011099606
Cover Image
An indicator of systemic liquidity risk in the Italian financial markets
Iachini, Eleonora; Nobili, Stefano - Banca d'Italia - 2014
This paper introduces a coincident indicator of systemic liquidity risk in the Italian financial markets. In order to take account of the systemic dimension of liquidity stress, standard portfolio theory is used. Three sub-indices, that reflect liquidity stress in specific market segments, are...
Persistent link: https://www.econbiz.de/10011100385
Cover Image
Connect them where it hurts. The missing piece of the puzzle
Esposito, Lorenzo - Banca d'Italia - 2013
The crisis has shown that banks that are too big to fail are at the core of the international financial system. These institutions are thus at the centre of a powerful wave of re-regulation of the banking system. Overall, the proposals developed to strengthen the capacity of big banks to weather...
Persistent link: https://www.econbiz.de/10011105112
Cover Image
The recent trends in long-term bank funding
Cardillo, Andrea; Zaghini, Andrea - Banca d'Italia - 2012
, when a bank CDS exists the role of the government is significantly reduced with the market giving more weight to the …
Persistent link: https://www.econbiz.de/10011105125
Cover Image
Home bias in interbank lending and banks� resolution regimes
Manna, Michele - Banca d'Italia - 2011
In recent years, banks have become increasingly aware of the credit risk borne in lending in the interbank market and they select their counterparties accordingly. They may also fear that if they come across a bad borrower, rescue plans will be skewed towards domestic creditors; moreover,...
Persistent link: https://www.econbiz.de/10009193015