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Regulatory Reform After the Crisis: Opportunities and Pitfalls
Beck, Thorsten - C.E.P.R. Discussion Papers - 2010
The recent crisis has led to a thriving academic and policy debate on the future regulation of financial institutions … market-restricting approach to regulation; it would imply price-based capital and liquidity regulation, rather than …
Persistent link: https://www.econbiz.de/10008468512
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Accounting discretion of banks during a financial crisis
Huizinga, Harry; Laeven, Luc - C.E.P.R. Discussion Papers - 2009
This paper presents evidence of banks using accounting discretion to overstate the value of distressed assets. In … favorably to recent changes in accounting rules that relax fair value accounting. Banks with large exposures to mortgage … recent changes that relax fair value accounting may further distort this picture. …
Persistent link: https://www.econbiz.de/10004973976
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Information Management in Banking Crises
Shapiro, Joel; Skeie, David - C.E.P.R. Discussion Papers - 2013
A regulator resolving a bank faces two audiences: depositors, who may run if they believe the regulator will not provide capital, and banks, which may take excess risk if they believe the regulator will provide capital. When the regulator's cost of injecting capital is private information, it...
Persistent link: https://www.econbiz.de/10011084160
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Multinational Banking in Europe: Financial Stability and Regulatory Implications Lessons from the Financial Crisis
Barba Navaretti, Giorgio; Calzolari, Giacomo; Levi, Micol; … - C.E.P.R. Discussion Papers - 2010
This paper examines whether multinational banks have a stabilising or a destabilising role during times of financial distress. With a focus on Europe, it looks at how these banks’ foreign affiliates have been faring during the recent financial crisis. It finds that retail and corporate lending...
Persistent link: https://www.econbiz.de/10008468703
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Arbitrage with Inelastic Liquidity Demand and Financial Constraints
Attari, Mukarram; Mello, Antonio S - C.E.P.R. Discussion Papers - 2001
dynamics of prices on which minimum capital requirements are based raises important implications for the regulation of …
Persistent link: https://www.econbiz.de/10005136768
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Weathering the crisis and beyond: Perspectives for the Euro Area
Schmidt, Christoph M; Weigert, Benjamin - C.E.P.R. Discussion Papers - 2013
The euro area is experiencing a severe and highly complex crisis. It comprises three problem areas, the difficulties of some highly indebted European sovereigns to ascertain funding at palatable cost, the disconcerting fragility of the European banking system and disappointing growth prospects...
Persistent link: https://www.econbiz.de/10011083564
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Business Groups in the United States: A Revised History of Corporate Ownership, Pyramids and Regulation, 1930-1950
Kandel, Eugene; Kosenko, Konstantin; Morck, Randall; … - C.E.P.R. Discussion Papers - 2013
The extent to which business groups ever existed in the United States and, if they did exist, the reasons for their disappearance are poorly understood. In this paper we use hitherto unexplored historical sources to construct a comprehensive data set to address this issue. We find that (1)...
Persistent link: https://www.econbiz.de/10011083947
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Complementing Bagehot: Illiquidity and insolvency resolution
Eijffinger, Sylvester C W; Nijskens, Rob - C.E.P.R. Discussion Papers - 2011
During the recent financial crisis, central banks have provided liquidity and governments have set up rescue programmes to restore confidence and stability, often against the LLR principle advocated by Bagehot. Using a model of a systemic bank suffering from liquidity shocks, we find that the...
Persistent link: https://www.econbiz.de/10009320403
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A primer on unconventional monetary policy
Bofinger, Peter; Debes, Sebastian - C.E.P.R. Discussion Papers - 2010
Due to the severity of the financial market crisis most central banks reached the limits of their traditional monetary policy instruments and relied to a very large extent on instruments of unconventional monetary policy. In our paper we develop a simple theoretical framework for the money...
Persistent link: https://www.econbiz.de/10008468505
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The lender of last resort: liquidity provision versus the possibility of bail-out
Eijffinger, Sylvester C W; Nijskens, Rob - C.E.P.R. Discussion Papers - 2010
Banking regulation has proven to be inadequate to guard systemic stability in the recent financial crisis. Central …
Persistent link: https://www.econbiz.de/10008468710