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Transmitting Global Liquidity to East Asia : Policy Rates, Bond Yields, Currencies and Dollar Credit
He, Dong - 2014
advanced economies to East Asia through monetary policy reactions, integrated bond markets and induced currency appreciation …
Persistent link: https://www.econbiz.de/10013059558
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Embedded Supervision : How to Build Regulation into Blockchain Finance
Auer, Raphael - 2019
The spread of distributed ledger technology (DLT) in finance could help to improve the efficiency and quality of supervision. This paper makes the case for embedded supervision, ie a regulatory framework that provides for compliance in tokenised markets to be automatically monitored by reading...
Persistent link: https://www.econbiz.de/10012861846
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The Determinants of Cross-Border Bank Flows to Emerging Markets : New Empirical Evidence on the Spread of Financial Crises
Herrmann, Sabine - 2010
Europe from 1993 to 2008. The empirical analysis suggests that global as well as country specific factors are significant … cross-border loans to Central and Eastern Europe was more limited compared to Asia and Latin America, in large measure … because of the higher degree of financial and monetary integration in Europe, and relatively sound banking systems in the …
Persistent link: https://www.econbiz.de/10013140116
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Foreign Currency Borrowing, Balance Sheet Shocks and Real Outcomes
Hardy, Bryan - 2019
Emerging market firms frequently borrow in foreign currency (FX), but their assets are often denominated in domestic currency. This behavior leads to an FX mismatch on firms balance sheets, which can harm their net worth in the event of a depreciation. I use a large, unanticipated, and exogenous...
Persistent link: https://www.econbiz.de/10012896700
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Dollar Borrowing, Firm-Characteristics, and FX-Hedged Funding Opportunities
Gambacorta, Leonardo - 2020
We explore the link between firms' dollar bond borrowing and their FX-hedged funding opportunities, as reflected in a …
Persistent link: https://www.econbiz.de/10012840120
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Financial Deglobalisation in Banking?
McCauley, Robert N. - 2017
This paper argues that the decline in cross-border banking since 2007 does not amount to a broad-based retreat in international lending ("financial deglobalisation"). We show that BIS international banking data organised by the nationality of ownership ("consolidated view") provide a clearer...
Persistent link: https://www.econbiz.de/10012953022
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Moving in Tandem : Bank Provisioning in Emerging Market Economies
Murcia Pabón, Andrés - 2016
We study the determinants of loan loss provisions and delinquency ratios based on the balance sheets of 554 banks from emerging market economies (EMEs). We find that provisions in EME banks respond mostly to aggregate variables, and very little to idiosyncratic factors. In particular, the...
Persistent link: https://www.econbiz.de/10012997194
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Innovations in Credit Risk Transfer : Implications for Financial Stability
Duffie, Darrell - 2013
Banks and other lenders often transfer credit risk to liberate capital for further loan intermediation. This paper aims to explore the design, prevalence and effectiveness of credit risk transfer (CRT). The focus is on the costs and benefits for the efficiency and stability of the financial...
Persistent link: https://www.econbiz.de/10014216392
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Understanding the Role of Debt in the Financial System
Holmstrom, Bengt - 2015
Money markets are fundamentally different from stock markets. Stock markets are about price discovery for the purpose of allocating risk efficiently. Money markets are about obviating the need for price discovery using over-collateralised debt to reduce the cost of lending. Yet, attempts to...
Persistent link: https://www.econbiz.de/10013030036
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Post-Crisis International Financial Regulatory Reforms : A Primer
Borio, Claudio E. V. - 2020
This paper reviews post-crisis financial regulatory reforms, examines how they fit together and identifies open issues. Specifically, it takes stock of the salient new features of bank and CCP international standards within a unified analytical framework. The key notion in this framework is...
Persistent link: https://www.econbiz.de/10012835929