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On the impact of leveraged buyouts on bank systemic risk

Grupp, Marcel - 2015 - This Version: April 2015

, experience with leading LBO syndicates or a bank's credit rating, however, lead to a lower impact of the LBO loan exposure on …

Persistent link: https://www.econbiz.de/10010515428

Who should hold bail-inable debt and how can regulators police holding restrictions effectively?

Mecatti, Irene; Tröger, Tobias - 2023

This paper analyses the demand-side prerequisites for the efficient application of the bail-in tool in bank resolution, scrutinises whether the European bank crisis management and deposit insurance (CMDI) framework is apt to establish them, and proposes amendments to remedy identified...

Persistent link: https://www.econbiz.de/10013537579

The demand for central clearing: To clear or not to clear, that is the question

Bellia, Mario; Girardi, Giulio; Panzica, Roberto Calogero; … - 2022

repository data on single-name sovereign credit default swap (CDS) transactions and show that both the seller and the buyer … clearing incentives seem particularly responsive to seller credit risk, which is in line with the notion that counterparty … credit risk (CCR) is asymmetric in CDS contracts. The riskiness of the underlying reference entity also enters the decision …

Persistent link: https://www.econbiz.de/10013549647

Reform of the CMDI framework: Driving off with the breaks on

Asimakopoulos, Ioannis G.; Tröger, Tobias - 2024

The lack of a European Deposit Insurance Scheme (EDIS) - often referred to as the 'third pillar' of Banking Union - has been criticized since the inception of the EU Banking Union. The Crisis Management and Deposit Insurance (CMDI) framework needs to rely heavily on banks' internal loss...

Persistent link: https://www.econbiz.de/10014531822

Optimal asset allocation for interconnected life insurers in the low interest rate environment under solvency regulation

Niedrig, Tobias - 2015

I assess how Basel III, Solvency II and the low interest rate environment will affect the financial connection between the bank and insurance sector by changing the funding patterns of banks as well as the investment strategies of life insurance companies. Especially for life insurance...

Persistent link: https://www.econbiz.de/10010507671

Regulatory influence on market conditions in the banking union: The cases of macro-prudential instruments and the bail-in tool

Tröger, Tobias H. - 2015

This paper looks into the specific influence that the European banking union will have on (future) bank client relationships. It shows that the intended regulatory influence on market conditions in principle serves as a powerful governance tool to achieve financial stability objectives. From...

Persistent link: https://www.econbiz.de/10010527646

Too complex to work: A critical assessment of the bail-in tool under the European bank recovery and resolution regime

Tröger, Tobias H. - 2017

This paper analyses the bail-in tool under the BRRD and predicts that it will not reach its policy objective. To make this argument, this paper first describes the policy rationale that calls for mandatory private sector involvement (PSI). From this analysis the key features for an effective...

Persistent link: https://www.econbiz.de/10011712189

Why MREL won't help much: Minimum requirements for bail-in capital as insufficient remedy for defunct private sector involvement under the European bank resolution framework

Tröger, Tobias H. - 2017

The bail-in tool as implemented in the European bank resolution framework suffers from severe shortcomings. To some extent, the regulatory framework can remedy the impediments to the desirable incentive effect of private sector involvement (PSI) that emanate from a lack of predictability of...

Persistent link: https://www.econbiz.de/10011712190

Managing excess volatility: Design and effectiveness of circuit breakers

Clapham, Benjamin; Gomber, Peter; Haferkorn, Martin; … - 2017

We investigate different designs of circuit breakers implemented on European trading venues and examine their effectiveness to manage excess volatility and to preserve liquidity. Specifically, we empirically analyze volatility and liquidity around volatility interruptions implemented on the...

Persistent link: https://www.econbiz.de/10011793656

Coordination of circuit breakers? Volume migration and volatility spillover in fagmented markets

Clapham, Benjamin; Gomber, Peter; Panz, Sven - 2017

We study circuit breakers in a fragmented, multi-market environment and investigate whether a coordination of circuit breakers is necessary to ensure their effectiveness. In doing so, we analyze 2,337 volatility interruptions on Deutsche Boerse and research whether a volume migration and an...

Persistent link: https://www.econbiz.de/10011793657

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