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Franke, Günter; Krahnen, Jan Pieter - Center for Financial Studies - 2008

Securitization is a financial innovation that experiences a boom-bust cycle, as many other innovations before. This paper analyzes possible reasons for the breakdown of primary and secondary securitization markets, and argues that misaligned incentives along the value chain are the primary cause...

Persistent link: https://www.econbiz.de/10010986376

German banks - a declining industry?

Hackethal, Andreas - Center for Financial Studies - 2003

This paper is a draft for the chapter German banks and banking structure of the forthcoming book The German financial system edited by J.P. Krahnen and R.H. Schmidt (Oxford University Press). As such, the paper starts out with a description of past and present structural features of the German...

Persistent link: https://www.econbiz.de/10010986396

In lands of foreign currency credit, bank lending channels run through? The effects of monetary policy at home and abroad on the currency denomination of the supply of credit

Ongena, Steven; Schindele, Ibolya; Vonnák, Dzsamila - Center for Financial Studies - 2014

We analyze the differential impact of domestic and foreign monetary policy on the local supply of bank credit in … domestic and foreign currencies. We analyze a novel, supervisory dataset from Hungary that records all bank lending to firms …

Persistent link: https://www.econbiz.de/10010986409

Mark-to-market accounting and liquidity pricing

Allen, Franklin; Carletti, Elena - Center for Financial Studies - 2006

When liquidity plays an important role as in times of financial crisis, asset prices in some markets may reflect the amount of liquidity available in the market rather than the future earning power of the asset. Mark-to-market accounting is not a desirable way to assess the solvency of a...

Persistent link: https://www.econbiz.de/10010986447

The Basle scuritisation framework explained: The regulatory treatment of asset securitisation

Jobst, Andreas A. - Center for Financial Studies - 2005

The paper provides a comprehensive overview of the gradual evolution of the supervisory policy adopted by the Basle Committee for the regulatory treatment of asset securitisation. We carefully highlight the pathology of the new securitisation framework to facilitate a general understanding of...

Persistent link: https://www.econbiz.de/10010986448

Regulation and Competition in German Banking: An Assessment

Fischer, Karl-Hermann; Pfeil, Christian - Center for Financial Studies - 2003

deposit customers. In the past, bank regulation has often been blamed for undermining competition and the functioning of … tries to shed some light on the historical development and current state of bank regulation in Germany. In so doing, it … tries to embed the analysis of bank regulation in a more general industrial organization framework. For every regulated …

Persistent link: https://www.econbiz.de/10010986452

Comparative analysis of alternative credit risk models: An application on German middle market loan portfolios

Kern, Markus; Rudolph, Bernd - Center for Financial Studies - 2001

In recent years new methods and models have been developed to quantify credit risk on a portfolio basis. CreditMetrics (tm), CreditRisk+, CreditPortfolio (tm) are among the best known and many others are similar to them. At first glance they are quite different in their approaches and...

Persistent link: https://www.econbiz.de/10010986454

Multiple-bank lending: Diversification and free-riding in monitoring

Cerasi, Vittoria; Daltung, Sonja - Center for Financial Studies - 2004

and banks are subject to moral hazard and monitoring is essential. Multiple-bank lending is optimal whenever the benefit …. The model predicts a greater use of multiple-bank lending when banks are small relative to investment projects, firms are …

Persistent link: https://www.econbiz.de/10010986458

Default risk sharing between banks and markets: The contribution of collateralized debt obligations

Franke, Günter; Krahnen, Jan Pieter - Center for Financial Studies - 2005

a.ects their default risk, their systematic risk, and their stock prices. In a typical CDO transaction a bank retains … securitized assets. If the bank sells loans in a true sale transaction, it may use the proceeds to to expand its loan business …

Persistent link: https://www.econbiz.de/10010986468

Information production in credit relationship: On the role of internal ratings in commercial banking

Brunner, Antje; Pieter, Jan; Weber, Martin - Center for Financial Studies - 2000

This paper discusses the role of internal corporate ratings as a means by which commercial banks condense their informational advantage and preserve it vis-à-vis a competitive lending market. In drawing on a unique data set collected from leading universal banks in Germany, we are able to...

Persistent link: https://www.econbiz.de/10010986476