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Liquidity and Transparency in Bank Risk Management

Ratnovski, Lev - International Monetary Fund (IMF) - 2013

accumulate a buffer of liquid assets, or strengthen transparency to communicate solvency. While a liquidity buffer provides … bank may choose insufficient liquidity buffers and transparency. The regulatory response is constained: while liquidity … buffers can be imposed, transparency is not verifiable. Moreover, liquidity requirements can compromise banks' transparency …

Persistent link: https://www.econbiz.de/10010790317

Externalities and Macroprudential Policy

Nicoló, Gianni De; Favara, Giovanni; Ratnovski, Lev - International Monetary Fund (IMF) - 2012

This note overviews macroprudential policy options that have been proposed to address the systemic risks experienced during the recent financial crisis. It contributes to the policy debate by providing a taxonomy of macroprudential policies in terms of the specific negative externalities in the...

Persistent link: https://www.econbiz.de/10011142226

Shadow Banking; Economics and Policy

Claessens, Stijn; Ratnovski, Lev; Singh, Manmohan - International Monetary Fund (IMF) - 2012

This note outlines the basic economics of the shadow banking system, highlights (systemic) risks related to it, and suggests implications for measurement and regulatory approaches.

Persistent link: https://www.econbiz.de/10011245881

Systemic Risk and Optimal Regulatory Architecture

Espinosa-Vega, Marco A; Matta, Rafael; Kahn, Charles M.; … - International Monetary Fund (IMF) - 2011

Until the recent financial crisis, the safety and soundness of financial institutions was assessed from the perspective of the individual institution. The financial crisis highlighted the need to take systemic externalities seriously when rethinking prudential oversight and the regulatory...

Persistent link: https://www.econbiz.de/10009293760

Global Liquidity and Drivers of Cross-Border Bank Flows

Cerutti, Eugenio; Claessens, Stijn; Ratnovski, Lev - International Monetary Fund (IMF) - 2014

This paper provides a definition of global liquidity consistent with its meaning as the â€œease of financingâ€ in … also the cyclical impact of global liquidity, with sensitivities of flows to banks decreasing with stronger macroeconomic …

Persistent link: https://www.econbiz.de/10011142075

Chile; Institutions and Policies Underpinning Stability and Growth

Kalter, Eliot; Phillips, Steven; Singh, Manmohan; … - International Monetary Fund (IMF) - 2004

This paper presents the primary institutions and economic policies that have led to Chileâ€™s remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of fiscal discipline and an open trade policy regime, together with carefully...

Persistent link: https://www.econbiz.de/10005767351

Cross-Border Financial Surveillance; A Network Perspective

Sole, Juan; Espinosa-Vega, Marco A - International Monetary Fund (IMF) - 2010

Effective cross-border financial surveillance requires the monitoring of direct and indirect systemic linkages. This paper illustrates how network analysis could make a significant contribution in this regard by simulating different credit and funding shocks to the banking systems of a number of...

Persistent link: https://www.econbiz.de/10008533219

Bailouts and Systemic Insurance

Dell'Ariccia, Giovanni; Ratnovski, Lev - International Monetary Fund (IMF) - 2013

We revisit the link between bailouts and bank risk taking. The expectation of government support to failing banks creates moral hazard—increases bank risk taking. However, when a bank’s success depends on both its effort and the overall stability of the banking system, a government’s...

Persistent link: https://www.econbiz.de/10010790390

Retail Bank Interest Rate Pass-Through; Is Chile Atypical?

Rebucci, Alessandro; Espinosa-Vega, Marco A - International Monetary Fund (IMF) - 2003

This paper investigates empirically the pass-through of money market interest rates to retail banking interest rates in Chile, the United States, Canada, Australia, New Zealand, and five European countries. Overall, Chile's pass-through does not appear atypical. Based on a standard...

Persistent link: https://www.econbiz.de/10005248289

Why Are Canadian Banks More Resilient?

Huang, Rocco; Ratnovski, Lev - International Monetary Fund (IMF) - 2009

This paper explores factors behind Canadian banks' relative resilience in the ongoing credit turmoil. We identify two main causes: a higher share of depository funding (vs. wholesale funding) in liabilities, and a number of regulatory and structural factors in the Canadian market that reduced...

Persistent link: https://www.econbiz.de/10008528633