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Personal bankruptcy and credit market competition

Dick, Astrid; Lehnert, Andreas - Federal Reserve Bank of New York - 2007

the credit market. We document that, following deregulation, (1) overall lending increased, (2) loss rates on loans …

Persistent link: https://www.econbiz.de/10005420638

Global banks and international shock transmission: evidence from the crisis

Cetorelli, Nicola; Goldberg, Linda S. - Federal Reserve Bank of New York - 2010

Global banks played a significant role in transmitting the 2007-09 financial crisis to emerging-market economies. We examine adverse liquidity shocks on main developed-country banking systems and their relationships to emerging markets across Europe, Asia, and Latin America, isolating loan...

Persistent link: https://www.econbiz.de/10008498298

When is U.S. bank lending to emerging markets volatile?

Goldberg, Linda S. - Federal Reserve Bank of New York - 2001

Using bank-specific data on U.S. bank claims on individual foreign countries since the mid-1980s, this paper 1) characterizes the size and portfolio diversification patterns of the U.S. banks engaging in foreign lending, and 2) econometrically explores the determinants of fluctuations in U.S....

Persistent link: https://www.econbiz.de/10005526315

Monetary policy under sudden stops

Cúrdia, Vasco - Federal Reserve Bank of New York - 2007

This paper proposes a model to investigate the effects of monetary policy in an emerging market economy that experiences a sudden stop of capital inflows. The model features credit frictions, debt denominated in foreign currency, imported inputs, and households that have access to the...

Persistent link: https://www.econbiz.de/10005420493

Payday holiday: how households fare after payday credit bans

Morgan, Donald P.; Strain, Michael R. - Federal Reserve Bank of New York - 2007

Payday loans are widely condemned as a “predatory debt trap.” We test that claim by researching how households in … Georgia and North Carolina have fared since those states banned payday loans in May 2004 and December 2005. Compared with … substitutes such as the bounced-check “protection” sold by credit unions and banks or loans from pawnshops.> …

Persistent link: https://www.econbiz.de/10005420672

How do global banks scramble for liquidity? Evidence from the asset-backed commercial paper freeze of 2007

Acharya, Viral V.; Afonso, Gara; Kovner, Anna - Federal Reserve Bank of New York - 2013

In August of 2007, banks faced a freeze in funding liquidity from the asset-backed commercial paper (ABCP) market. We investigate how banks scrambled for liquidity in response to this freeze and its implications for corporate borrowing. Commercial banks in the United States raised deposits and...

Persistent link: https://www.econbiz.de/10010690282

Banking across borders

Niepmann, Friederike - Federal Reserve Bank of New York - 2012

This paper develops and tests a theoretical model that allows for the endogenous decision of banks to engage in international and global banking. International banking, where banks raise capital in the home market and lend it abroad, is driven by differences in factor endowments across...

Persistent link: https://www.econbiz.de/10010585876

Securities lending

Lipson, Paul C.; Sabel, Bradley K.; Keane, Frank M. - Federal Reserve Bank of New York - 2012

.S. securities markets, examines loans of Treasury and agency securities in the domestic market. It highlights some important … loans. While we note that this characteristic sets securities lending apart from most repurchase agreement (repo …

Persistent link: https://www.econbiz.de/10011027200

Defining and detecting predatory lending

Morgan, Donald P. - Federal Reserve Bank of New York - 2007

We define predatory lending as a welfare-reducing provision of credit. Using a textbook model, we show that lenders profit if they can tempt households into "debt traps," that is, overborrowing and delinquency. We then test whether payday lending fits our definition of predatory. We find that in...

Persistent link: https://www.econbiz.de/10005726611

Subprime mortgage lending in New York City: prevalence and performance

Okah, Ebiere; Orr, James - Federal Reserve Bank of New York - 2010

loans have been rising sharply. We use a rich, loan-level data set of the city's outstanding subprime loans as of January … 2009 to describe the main features of this lending and to model the performance of these loans. These subprime loans … clustered in neighborhoods where average borrower credit quality is low and, unlike prime mortgage loans, where African …

Persistent link: https://www.econbiz.de/10008553243