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Investor Information and Bank Instability During the Euro Crisis

Iorgova, Silvia; Ross, Chase P. - 2021

Outside of financial crises, investors have little incentive to produce private information on banks' short-term liabilities held as information-insensitive safe assets. The same does not hold true during crises. We measure daily information production using data from credit default swap spreads...

Persistent link: https://www.econbiz.de/10013243048

US vs. Euro Area : Who Drives Cross-Border Bank Lending to EMS?

Cerutti, Eugenio M. - 2019

This paper analyzes the drivers of cross-border bank lending to 49 Emerging Markets (EMs) during the period 1990Q1-2014Q4, by assessing the impact of monetary, financial and real sector shocks in both the US and the euro area. The literature has traditionally highlighted the influence of US...

Persistent link: https://www.econbiz.de/10012859870

Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis

Chan-Lau, Jorge A. - 2012

This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....

Persistent link: https://www.econbiz.de/10013098630

Credit Growth and Economic Recovery in Europe after the Global Financial Crisis

Antoshin, Sergei - 2018

This paper reviews the empirical relationships between credit growth, economic recovery, and bank profitability in Europe after the global financial crisis (GFC). We find that the post-GFC recoveries in Europe have been weaker than previous recoveries, with the 'double-dip' recessions in 2011-12...

Persistent link: https://www.econbiz.de/10012929951

SMEs’ Access to Finance in the Euro Area : What Helps or Hampers?

Öztürk, Bahar - 2014

The monetary transmission mechanism in the euro area has been adversely affected by the recent crises. Using survey data on thousands of euro area firms, we study factors that affect the access to finance of SMEs. We find that changes in bank funding costs and borrower leverage matter for firms'...

Persistent link: https://www.econbiz.de/10013053038

Effectiveness and Channels of Macroprudential Instruments : Lessons from the Euro Area

Tressel, Thierry - 2016

The crisis has highlighted the importance of setting up macro-prudential oversight frameworks, having effective macro-prudential instruments in place to be called upon to mitigate growing financial imbalances as needed. We develop a new approach using the euro area Bank Lending Survey to assess...

Persistent link: https://www.econbiz.de/10012996061

Breaking the Bank? A Probabilistic Assessment of Euro Area Bank Profitability

Elekdag, Selim - 2020

This paper explores the determinants of profitability across large euro area banks using a novel approach based on conditional profitability distributions. Real GDP growth and the NPL ratio are shown to be the most reliable determinants of bank profitability. However, the estimated conditional...

Persistent link: https://www.econbiz.de/10012843521

ECB Euro Liquidity Lines

Albrizio, Silvia; Kataryniuk, Iván; Molina, Luis; … - 2023

Central bank liquidity lines have gained momentum since the global financial crisis as a crosscurrency liquidity … management tool. We provide a complete timeline of the ECB liquidity line announcements and study their signalling and spillback … effects. The announcement of an ECB euro liquidity line decreases the premium paid by foreign agents to borrow euros in FX …

Persistent link: https://www.econbiz.de/10014354526

Credit-Supply Shocks and Firm Productivity in Italy

Dörr, Sebastian - 2017

The Italian economy has been struggling with low productivity growth and bank balance sheet strains. This paper examines the implications for firm productivity of adverse shocks to bank lending in Italy, using a novel identification scheme and loan-level data on syndicated lending. We exploit...

Persistent link: https://www.econbiz.de/10012956377

Balance Sheet Strength and Bank Lending During the Global Financial Crisis

Kapan, Tümer - 2013

structural liquidity positions in 2007Q2 to estimate the impact of exposure to market freezes during 2007–08 on the supply of … particular, banks that were ex-ante more dependent on market funding and had lower structural liquidity reduced the supply of …

Persistent link: https://www.econbiz.de/10013080861