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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

Embedded Supervision : How to Build Regulation into Blockchain Finance

Auer, Raphael A. - 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

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

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

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

Business Models and Dollar Funding of Global Banks

Aldasoro, Iñaki - 2018

Since the eurozone crisis, there has been a stark divergence between European banks and Japanese banks in their dollar uses and sources. We show that these shifts have implications for the price of dollar funding. We document a "Japan Repo Premium." Japanese banks pay a premium for repos with US...

Persistent link: https://www.econbiz.de/10012924144

Stablecoins : Risks, Potential and Regulation

Arner, Douglas W.; Auer, Raphael A.; Frost, Jon - 2022

The technologies underlying money and payment systems are evolving rapidly. Both the emergence of distributed ledger technology (DLT) and rapid advances in traditional centralised systems are moving the technological horizon of money and payments. These trends are embodied in private...

Persistent link: https://www.econbiz.de/10013310932

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

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

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