Similar Search Results

Defaults and losses on commercial real estate bonds

Wiggers, Tyler; Ashcraft, Adam B. - 2012

-32) to determine their frequency of default and total loss given default. Default rates on these bonds far exceeded those … higher loan-to-value ratios results in higher rates of default and loss. They also support the business cycle's significance … is a rapid recovery around the corner. -- Great Depression ; CMBS market ; default and loss study ; commercial real …

Persistent link: https://www.econbiz.de/10009521614

Beyond thirty : treasury issuance of long-term bonds from 1953 to 1965

Garbade, Kenneth D. - 2017

Ever since the emergence of regular and predictable issuance of coupon-bearing Treasury debt in the 1970s, thirty years has marked the outer boundary of Treasury bond maturities. However, longer-term bonds were not unknown in earlier years. Seven such bonds, including one with a forty-year term,...

Persistent link: https://www.econbiz.de/10011586602

Climate regulatory risks and corporate bonds

Seltzer, Lee; Starks, Laura T.; Zhu, Qifei - 2022

Investor concerns about climate and other environmental regulatory risks suggest that these risks should affect corporate bond risk assessment and pricing. We test this hypothesis and find that firms with poor environmental profiles or high carbon footprints tend to have lower credit ratings and...

Persistent link: https://www.econbiz.de/10013193337

Exorbitant privilege? : quantitative easing and the bond market subsidy of prospective fallen angels

Acharya, Viral V.; Banerjee, Ryan; Crosignani, Matteo; … - 2022

We document capital misallocation in the U.S. investment-grade (IG) corporate bond market, driven by quantitative easing (QE). Prospective fallen angels - risky firms just above the IG rating cutoff-enjoyed subsidized bond financing since 2009, especially when the scale of QE purchases peaked...

Persistent link: https://www.econbiz.de/10013161890

The shifting drivers of global liquidity

Avdjiev, Stefan; Gambacorta, Leonardo; Goldberg, Linda S.; … - 2017

The post-crisis period has seen a considerable shift in the composition and drivers of international bank lending and international bond issuance, the two main components of global liquidity. The sensitivity of both types of flows to U.S. monetary policy rose substantially in the immediate...

Persistent link: https://www.econbiz.de/10011671045

Gender and the availability of credit to privately held firms : evidence from the surveys of small business finances

Cole, Rebel A.; Mehran, Hamid - 2009

This study analyzes differences by gender in the ownership of privately held U.S. firms and examines the role of gender in the availability of credit. Using data from the nationally representative Surveys of Small Business Finances, which span a period of sixteen years, we document a series of...

Persistent link: https://www.econbiz.de/10003947529

Valuing the Treasury’s Capital Assistance Program/ Paul Glasserman; Zhenyu Wang

Glasserman, Paul; Wang, Zhenyu - 2009

The Capital Assistance Program (CAP) was created by the U.S. government in February 2009 to provide backup capital to large financial institutions unable to raise sufficient capital from private investors. Under the terms of the CAP, a participating bank receives contingent capital by issuing...

Persistent link: https://www.econbiz.de/10003948201

Corporate credit provision

Boyarchenko, Nina; Mueller, Philippe - 2019

Productive firms can access credit markets directly by issuing corporate bonds or by borrowing through financial intermediaries. In this paper, we study the cyclical properties of corporate credit provision through these two types of debt instruments in major advanced economies. We argue that...

Persistent link: https://www.econbiz.de/10012061348

Financing private credit

Boyarchenko, Nina; Elias, Leonardo - 2024

Using data on balance sheets of both financial and nonfinancial sectors of the economy, we use a "demand system" approach to study how lender composition and willingness to provide credit affect the relationship between credit expansions and real activity. A key advantage of jointly modeling the...

Persistent link: https://www.econbiz.de/10014634857

Why issue bonds offshore?

Black, Susan; Munro, Anella - 2010

Persistent link: https://www.econbiz.de/10008904006