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central banks. These central banks had the capacity to use these swap facilities to provide dollar liquidity to institutions … in their jurisdictions. This paper presents the developments in the dollar swap facilities through the end of 2009. The … research, as well as more descriptive accounts, suggests that the dollar swap lines among central banks were effective at …
Persistent link: https://www.econbiz.de/10012462892
unprecedented U.S. dollar swap lines recently provided to many countries by the Federal Reserve …
Persistent link: https://www.econbiz.de/10012463821
markets. The implicit international contract is analogous to a total return swap in domestic financial markets. Using market …
Persistent link: https://www.econbiz.de/10012467963
) implemented measures to provide US dollar liquidity by reinforcing swap arrangements with five major central banks, reactivating … dollar liquidity lines through the swap arrangements and the new repo facility. Access to dollar liquidity also reflects …
Persistent link: https://www.econbiz.de/10012496139
interest-rate sensitivities of interest rate swap positions of U.S. commercial banks to empirically address the question of … whether swap contracts have increased or decreased systematic risk in the U.S. banking system. We find that the banking system … as a whole faces little net interest-rate risk from swap portfolios …
Persistent link: https://www.econbiz.de/10012473787
transparency or illiquidity. However, several of the important announcements concerning the international swap programs …
Persistent link: https://www.econbiz.de/10012461299
Now in prospect is a major revision of international bank capital regulations that would embody recent advances in credit risk measurement and management. Previous regulations have been simpler in structure, with a primary goal of getting capital requirements right on average, and thus have...
Persistent link: https://www.econbiz.de/10012471142
Mortgage cramdown enabled bankruptcy judges to discharge the underwater portion of a mortgage during Chapter 13 bankruptcy before the Supreme Court disallowed this practice in 1993. We exploit the random assignment of cases to judges to quantify the ex-post effects of Chapter 13 bankruptcy over...
Persistent link: https://www.econbiz.de/10012585384
We analyze mortgage lenders' behavior with respect to shale gas risk during the period of the U.S. shale gas boom, which coincided with fluctuations in the U.S. housing market and increased scrutiny in the lending industry. Shale gas operations have the potential to place affected houses into...
Persistent link: https://www.econbiz.de/10012696403
screen and price mortgages for flood risk. Banks also retain the option to securitize some of these loans. In particular …
Persistent link: https://www.econbiz.de/10012480267