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Persistent link: https://www.econbiz.de/10000656372
We analyze the risk premium on bank bonds at origination with a special focus on the role of implicit and explicit public guarantees and the systemic relevance of the issuing institutions. By looking at the asset swap spread on 5,500 bonds, we find that explicit guarantees and sovereign...
Persistent link: https://www.econbiz.de/10010343421
Persistent link: https://www.econbiz.de/10000673540
This paper analyzes loan pricing when there is multiple banking and borrower distress. Using a unique data set on SME lending collected from major German banks, we can instrument for effective coordination between lenders, carrying out a panel estimation. The analysis allows to distinguish...
Persistent link: https://www.econbiz.de/10003973755
We present an analysis of VaR forecasts and P&L-series of all 13 German banks that used internal models for regulatory purposes in the year 2001. To this end, we introduce the notion of well-behaved forecast systems. Furthermore, we provide a series of statistical tools to perform our analyses....
Persistent link: https://www.econbiz.de/10009764769
In Germany a public discussion on the power of banks has been going on for decades now with the term power having at … tries to shed some light on the historical development and current state of bank regulation in Germany. In so doing, it … research in the future. While our focus is on Germany, some of the questions that we raise and some of our insights might also …
Persistent link: https://www.econbiz.de/10009765356
Using a unique, hand-collected database of all venture-backed firms listed on Germany's Neuer Markt, we analyze the …
Persistent link: https://www.econbiz.de/10009765361
This paper is a draft for the chapter German banks and banking structure of the forthcoming book The German financial system edited by J.P. Krahnen and R.H. Schmidt (Oxford University Press). As such, the paper starts out with a description of past and present structural features of the German...
Persistent link: https://www.econbiz.de/10009765362
Over-allotment arrangements are nowadays part of almost any initial public offering. The underwriting banks borrow stocks from the previous shareholders to issue more than the initially announced number of shares. This is combined with the option to cover this short position at the issue price....
Persistent link: https://www.econbiz.de/10009767115
credit-file information on distressed lending relationships in Germany. In particular, it includes information on creditor …
Persistent link: https://www.econbiz.de/10009767665