securitization activity on loans' relative credit quality employing a uniquely detailed dataset from the euro-denominated syndicated … securitization, however, the credit quality of borrowers whose loans are securitized deteriorates by more than those in the control …

. We then investigate whether this effect is influenced by two key bank characteristics: securitization and bank capital …We examine how bank competition in the run-up to the 2007-2009 crisis affects banks' systemic risk during the crisis …. Using a sample of the largest listed banks from 15 countries, we find that greater market power at the bank level and higher …

indices; second, which bank-specific characteristics explain these risk exposures; third, are there clusters of banks with … analysis of bank-to-bank linkages suggests that any “globalization” of the euro area crisis is likely to be channelled through …

contract their balance sheets. These bank responses generate externalities that propagate in the form of macro … macro-financial feedback loops can significantly affect macroeconomic outcomes and bank-specific stress tests results. The … heterogeneity in bank lending responses matters: it determines how each bank fares under adverse conditions and the external effects …

cutting back on their securitization activity but expanding loans to the Federal Home Loan Bank system … sheets to non-banks via increased securitization activity. As such, higher interest rates have the potential for unintended … sectors. In the past, this increased securitization activity was driven primarily byb private-label securitization. On the …

This paper examines the financial stability implications arising from securitization markets, with one eye on the past … industry developments in the years before the crisis. Emphasis is placed on the various ways in which securitization markets … securitization markets are then discussed, including a treatment of various regulatory initiatives, the operational infrastructure of …

affecting bank solvency during adverse macroeconomic conditions. This paper demonstrates the effectiveness of using extreme …

endogenous bank fragility and slow recovery from crises. When banks' investment decisions are not contractible, depositors form … expectations about bank risk-taking and demand a return on deposits according to their risk. This creates strategic … of bank net worth, leading to a persistent drop in investment and output. I bring the model to bear on the European …