always work best in terms of covering bank loan losses that go beyond what could be expected from economic downturns. Instead …

that the full risk sharing equilibrium may not require much diversification of equity portfolios when there is price …

This paper assesses the vulnerability of emerging markets and their banks to aggregate shocks. We find significant … links between banks'' asset quality, credit and macroeconomic aggregates. Lower economic growth, an exchange rate … Financial Stability Report (September 2011) to help evaluate the sensitivity of banks'' capital adequacy ratios to macroeconomic …

There is a widespread view that bank capital requirements should be loosened during recessions and tightened during … capital requirement policies on the saving decisions of households, and, through this channel, on bank loans and output. We …