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LIBOR : origins, economics, crisis, scandal, and reform

Hou, David; Skeie, David - 2014

The London Interbank Offered Rate (LIBOR) is a widely used indicator of funding conditions in the interbank market. As of 2013, LIBOR underpins more than $300 trillion of financial contracts, including swaps and futures, in addition to trillions more in variable-rate mortgage and student loans....

Persistent link: https://www.econbiz.de/10010393220

Money, credit, monetary policy, and the business cycle in the euro area : what has changed since the crisis?

Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2019

This paper studies the relationship between the business cycle and financial intermediation in the euro area. We establish stylized facts and study their stability during the global financial crisis and the European sovereign debt crisis. Long-term interest rates have been exceptionally high and...

Persistent link: https://www.econbiz.de/10012000041

Do distressed banks really gamble for resurrection?

Ben-David, Itzhak; Palvia, Ajay; Stulz, René M. - 2019

-1994, 2005-2014) and differ in bank regulations, especially concerning capital requirements and enforcement. In contrast to the … forces beyond formal regulations incentivize bank managers to deleverage when their banks are in distress …

Persistent link: https://www.econbiz.de/10012107655

Traditional and shadow banks

Chrétien, Edouard; Lyonnet, Victor - 2019

This paper documents how traditional and shadow banks interacted with one another during the 2007 financial crisis, when both assets and liabilities flew from shadow to traditional banks. To rationalize their behavior, we propose a simple model which demonstrates the symbiotic coexistence and...

Persistent link: https://www.econbiz.de/10012107660

CDS and equity market reactions to stock issuances in the U.S. financial industry : evidence from the 2002-13 period

Cornett, Marcia Millon; Mehran, Hamid; Pan, Kevin; … - 2014

We study market reactions to seasoned equity issuances that were announced by financial companies between 2002 and 2013. To assess the risk and valuation implications of these seasoned equity issuances, we conduct an event analysis using daily credit default swap (CDS) and stock market pricing...

Persistent link: https://www.econbiz.de/10010423809

Bank sovereign bond holdings, sovereign shock spillovers, and moral hazard during the European crisis

Beltratti, Andrea; Stulz, René M. - 2015

From 2010 to 2012, the relation between bank stock returns from European Union (EU) countries and the returns on …

Persistent link: https://www.econbiz.de/10011279577

Bank complexity, governance, and risk

Correa, Ricardo; Goldberg, Linda S. - 2020

Bank holding companies (BHCs) can be complex organizations, conducting multiple lines of business through many distinct … legal entities and across a range of geographies. While such complexity raises the costs of bank resolution when …, liquidity management, and synergy improvements that reduce risk. The outcomes of such trade-offs may depend on bank governance …

Persistent link: https://www.econbiz.de/10012234342

Bank holding company dividends and repurchases during the financial crisis

Hirtle, Beverly J. - 2014

Many large U.S. bank holding companies (BHCs) continued to pay dividends during the recent financial crisis, even as …

Persistent link: https://www.econbiz.de/10010393223

US banks, crises, and bailouts : from Mexico to LTCM

Kho, Bong-Chan (contributor); Lee, Dong (contributor); … - 2000 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001520883

The shadow banking system : implications for financial regulation

Adrian, Tobias; Shin, Hyun Song - 2009

The current financial crisis has highlighted the growing importance of the “shadow banking system,” which grew out of the securitization of assets and the integration of banking with capital market developments. This trend has been most pronounced in the United States, but it has had a...

Persistent link: https://www.econbiz.de/10003864595