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A Twin Crisis With Multiple Banks of Issue : Spain in the 1860s
Moro, Alessio - 2013
crisis of 1864-66. Next, we describe the particular banking sector of Spain, characterized by the coexistence of the Bank of … destabilizing institute due to its involvement with a Government on the brink of default …
Persistent link: https://www.econbiz.de/10013080476
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Bank-Firm Relationships and the Survival of Non-Financial Firms During the Financial Crisis 2008-2009
Abildgren, Kim - 2013
financial crisis 2008-9. Within the framework of accounting-based credit-scoring models we find that the probability of default …
Persistent link: https://www.econbiz.de/10013086885
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CoMap : Mapping Contagion in the Euro Area Banking Sector
Covi, Giovanni - 2019
the global banking system. Drawing on a unique dataset, the paper documents the degree of interconnectedness and systemic … risk of the euro area banking system based on bilateral linkages. We then develop a Contagion Mapping (CoMap) methodology … to study contagion potential of an exogenous default shock via counterparty credit and funding risks. We construct …
Persistent link: https://www.econbiz.de/10012894738
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Trusting the Bankers : A New Look at the Credit Channel of Monetary Policy
Ciccarelli, Matteo - 2010
Any empirical analysis of the credit channel faces a key identification challenge: changes in credit supply and demand are difficult to disentangle. To address this issue, we use the detailed answers from the US and the confidential and unique Euro area bank lending surveys. Embedding this...
Persistent link: https://www.econbiz.de/10013141032
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Latent Fragility : Conditioning Banks' Joint Probability of Default on the Financial Cycle
Bochmann, Paul; Hiebert, Paul; Schüler, Yves S.; … - 2022
risk. In this framework, banking sector distress in the form of the joint probability of default of financial … the euro area, US and UK illustrates how the unravelling of excess leverage can magnify banking sector distress. Capturing … this dependence of banking sector distress on prevailing financial imbalances can enhance risk surveillance and stress …
Persistent link: https://www.econbiz.de/10013403523
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Loan Guarantees, Bank Underwriting Policies and Financial Fragility
Carletti, Elena; Leonello, Agnese; Marquez, Robert - 2023
Loan guarantees represent a form of government intervention to support bank lending. However, their use raises concerns as to their effect on bank risk-taking incentives. In a model of •nancial fragility that incorporates bank capital and a bank incentive problem, we show that loan guarantees...
Persistent link: https://www.econbiz.de/10014257509
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Bank Lines of Credit as Contingent Liquidity : A Study of Covenant Violations and Their Implications
Acharya, Viral V. - 2014
We study how the consequences of violations of covenants associated with bank lines of credit to firms vary with the financial health of lenders. Following a violation banks restrict usage of lines of credit by raising spreads, shortening maturities, tightening covenants, or cancelling the line...
Persistent link: https://www.econbiz.de/10013051172
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Banks, Low Interest Rates, and Monetary Policy Transmission
Wang, Olivier - 2021
This paper studies how low interest rates weaken the short-run transmission of monetary policy and contract the long-run supply of bank credit. As U.S. bond rates have fallen, the pass-through of monetary shocks to loan and deposit rates has weakened while the spread on U.S. bank loans has...
Persistent link: https://www.econbiz.de/10013314913
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Household debt sustainability: what explains household non-performing loans? An empirical analysis
Rinaldi, Laura; Sanchis-Arellano, Alicia - 2006
Sound household financial conditions are relevant for both financial and monetary stability. Therefore, we analyse household financial fragility in a sample of euro area countries with the aim to shed some light on the nature of the large debt increase accumulated in recent years. We focus on...
Persistent link: https://www.econbiz.de/10011604616
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Bank balance sheet constraints and bond liquidity
Breckenfelder, Johannes; Ivashina, Victoria - 2021
We explore the ties between bonds and individual dealers formed through home advantage and the persistence of previous underwriting relationships. Building on these connections, we show that the introduction of the leverage ratio for the European banks had a large impact on exposed bonds'...
Persistent link: https://www.econbiz.de/10012661617