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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/10011340948
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Federal reserve tools for managing rates and reserves
Martin, Antoine; McAndrews, James; Palida, Ali; Skeie, David - 2013
Monetary policy measures taken by the Federal Reserve as a response to the 2007-09 financial crisis and subsequent economic conditions led to a large increase in the level of outstanding reserves. The Federal Open Market Committee (FOMC) has a range of tools to control short-term market rates in...
Persistent link: https://www.econbiz.de/10010333623
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The return to retail and the performance of US banks
Hirtle, Beverly J.; Stiroh, Kevin J. - 2005
The U.S. banking industry is experiencing a renewed focus on retail banking, a trend often attributed to the stability … find that an increased focus on retail banking across U.S. banks is linked to significantly lower equity market and … accounting returns for all banks but lower volatility for only the largest banking companies. We conclude that retail banking may …
Persistent link: https://www.econbiz.de/10010283328
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The impact of network size on bank branch performance
Hirtle, Beverly J. - 2005
Despite recent innovations that might have reduced banks' reliance on brick-and-mortar branches for distributing retail financial services, the number of U.S. bank branches has continued to increase steadily over time. Further, an increasing percentage of these branches are held by banks with...
Persistent link: https://www.econbiz.de/10010283383
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Valuing the Treasury's Capital Assistance Program
Glasserman, Paul; Wang, Zhenyu - 2009
The Capital Assistance Program (CAP) was created by the U.S. government in February 2009 to provide backup capital to large financial institutions unable to raise sufficient capital from private investors. Under the terms of the CAP, a participating bank receives contingent capital by issuing...
Persistent link: https://www.econbiz.de/10010287104
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Design of contingent capital with a stock price trigger for mandatory conversion
Sundaresan, Suresh; Wang, Zhenyu - 2010
The proposal for banks to issue contingent capital that must convert into common equity when the banks' stock price falls below a specified threshold, or 'trigger,' does not in general lead to a unique equilibrium in equity and contingent capital prices. Multiple or no equilibrium arises because...
Persistent link: https://www.econbiz.de/10010287174
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Bank's financial distress, lending supply and consumption expenditure
Damar, H. Evren; Gropp, Reint; Mordel, Adi - 2013
adverse lending supply shock. The results contrast with recent evidence on the real effects of finance on firms' investment …
Persistent link: https://www.econbiz.de/10010226536
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Too interconnected to fail : a survey of the interbank networks literature
Hüser, Anne-Caroline - 2015 - First version: December 2014, This version: March 2015
The banking system is highly interconnected and these connections can be conveniently represented as an interbank … contagion in the banking system and of how banks form connections when faced with the possibility of contagion and systemic risk …
Persistent link: https://www.econbiz.de/10010491738
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EU agencies in banking and energy between institutional and policy centralisation
Eckert, Sandra - 2020
study of the process of agencification in the energy and banking sector is insightful in the light of these expectations … to a weak agency operating in a relatively centralised policy space. Agencification in banking, by contrast, has led to a …
Persistent link: https://www.econbiz.de/10012223779
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Banks' financial distress, lending supply and consumption expenditure
Damar, H. Evren; Gropp, Reint; Mordel, Adi - 2014
finance on firms' investment and employment decisions. …
Persistent link: https://www.econbiz.de/10012061065