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A tale of the water-supplying plumber: intraday liquidity provision in payment systems

Ledrut, Elisabeth - de Nederlandsche Bank - 2006

This paper provides an overview of the literature on intraday credit in payment systems to date and explores the dilemma central banks face when deciding on their intraday credit policies. On the one hand, any strategy in which the costs of liquidity are not fully borne by payment system...

Persistent link: https://www.econbiz.de/10005101828

Transmission of the Financial and Sovereign Debt Crises to the EMU: Stock Prices, CDS Spreads and Exchange Rates

Grammatikos, Theoharry; Vermeulen, Robert - de Nederlandsche Bank - 2011

evidence of crisis transmission to European non-financials from US non-financials, whereas the increase in dependence of … European financials on US financials is rather limited. Second, in order to test how the sovereign debt crisis affected stock … market developments we split the crisis in pre- and post-Lehman sub periods. Results show that financials become …

Persistent link: https://www.econbiz.de/10008860749

The Private Credit Insurance Effect on Trade

Veer, Koen van der - de Nederlandsche Bank - 2010

International trade relies on trade finance (credit or insurance) by financial institutions. Data limitations, however, have made it difficult to quantify the impact of changes in the supply of trade finance on trade. This paper is the first to establish a causal link between the supply of...

Persistent link: https://www.econbiz.de/10008671441

When does the general public lose trust in banks?

Jansen, David-Jan; Mosch, Robert; Cruijsen, Carin van der - de Nederlandsche Bank - 2013

When does the general public lose trust in banks? We provide empirical evidence using responses by Dutch survey participants to eight hypothetical scenarios. We find that members of the general public care strongly about executive compensation. Negative media reports, falling stock prices, and...

Persistent link: https://www.econbiz.de/10010726974

Loss shocks and the quantity and price of private export credit insurance: Evidence from a global insurer

Veer, Koen van der - de Nederlandsche Bank - 2015

potential trade finance constraints in times of crisis, such as during the 2008-09 global trade collapse. … underwriting by a global trade credit insurer from 1992 to 2006. Country-pair and time-varying country fixed effects allow me to … further rise with the size of the loss. I also find evidence indicating that the global trade credit insurer transmits extreme …

Persistent link: https://www.econbiz.de/10011188577

Do Financial Markets Expect Bank Defaults to be Contagious?

Mink, Mark - de Nederlandsche Bank - 2010

regress changes in banks' market values on changes in other banks' default probabilities for the 2007-2009 financial crisis … implications for financial regulation and crisis management. …

Persistent link: https://www.econbiz.de/10008783627

Monitoring the unsecured interbank money market using TARGET2 data

Heijmans, Ronald; Heuver, Richard; Walraven, Daniëlle - de Nederlandsche Bank - 2011

We investigate the euro unsecured interbank money market during the current financial crisis. To identify the loans …

Persistent link: https://www.econbiz.de/10008799345

The optimal size of the European Stability Mechanism: A cost-benefit analysis

Kapp, Daniel - de Nederlandsche Bank - 2012

This study presents a core-periphery model to determine the optimal size of the European Stability Mechanism (ESM), building on Jeanne and Ranciere (2011). While the periphery is subject to a probability of losing access to external credit, the core's incentive for setting up an ESM stems...

Persistent link: https://www.econbiz.de/10010566996

Procyclical Bank Risk-Taking and the Lender of Last Resort

Mink, Mark - de Nederlandsche Bank - 2011

We show that through facilitating maturity transformation, the lender of last resort gives banks an incentive to lever, diversify, and lower their lending standards. Bank leverage increases shareholder value because maturity transformation effectively allows banks to borrow against lower...

Persistent link: https://www.econbiz.de/10009192031

Bank Risk within and across Equilibria

Agur, Itai - de Nederlandsche Bank - 2011

This paper models a financial sector in which there is a feedback between individual bank risk and aggregate funding market problems. Greater individual risk taking worsens adverse selection problems on the market. But adverse selection premia on that market push up bank risk taking, leading to...

Persistent link: https://www.econbiz.de/10009193243