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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/10010393220

Regulation and risk shuffling in bank securities portfolios

Fuster, Andreas; Vickery, James - 2018

Bank capital requirements are based on a mix of market values and book values. We investigate the effects of a policy … change that ties regulatory capital to the market value of the "available-for-sale" investment securities portfolio for some … banking organizations. Our analysis is based on security-level data on individual bank portfolios matched to bond …

Persistent link: https://www.econbiz.de/10011868435

Visible and hidden risk factors for banks

Schuermann, Til (contributor); Stiroh, Kevin J. (contributor) - 2006

Persistent link: https://www.econbiz.de/10003336151

The shadow banking system : implications for financial regulation

Adrian, Tobias; Shin, Hyun Song - 2009

The current financial crisis has highlighted the growing importance of the “shadow banking system,” which grew out of the securitization of assets and the integration of banking with capital market developments. This trend has been most pronounced in the United States, but it has had a...

Persistent link: https://www.econbiz.de/10003864595

Resolving troubled systemically important cross-border financial institutions : is a new corporate organizational form required?

Cumming, Christine M.; Eisenbeis, Robert A. - 2010

firm incentives in a post-reform financial system. -- Financial regulatory reform ; corporate governance ; bank charter … ; bank insolvency …

Persistent link: https://www.econbiz.de/10008657240

Corporate governance and banks : what have we learned from the financial crisis? : Hamid Mehran; Alan Morrison; Joel Shapiro

Mehran, Hamid; Morrison, Alan; Shapiro, Joel Andrew - 2011

Recent academic work and policy analysis give insight into the governance problems exposed by the financial crisis and suggest possible solutions. We begin this paper by explaining why governance of banks differs from governance of nonfinancial firms. We then look at four areas of governance:...

Persistent link: https://www.econbiz.de/10009160737

Shadow banking : a review of the literature

Adrian, Tobias; Ashcraft, Adm B. - 2012

regulated institutions such as bank holding companies and insurance companies, thus creating a source of systemic risk for the …

Persistent link: https://www.econbiz.de/10009657601

Money market funds intermediation, bank instability, and contagion

Cipriani, Marco; Martin, Antoine; Parigi, Bruno - 2013

intermediation through MMFs allows investors to limit their exposure to a given bank (i.e., reap gains from diversifi cation … an MMF-intermediated financial system is the release of private information on bank assets, which is aggregated by MMFs … and could lead them to withdraw en masse from a bank. In addition, we show that MMF intermediation can also be a channel …

Persistent link: https://www.econbiz.de/10009709312

Financial stability monitoring

Adrian, Tobias; Covitz, Daniel M.; Liang, Jean Nellie - 2013

While the Dodd-Frank Act (DFA) broadens the regulatory reach to reduce systemic risks to the U.S. financial system, it does not address some important risks that could migrate to or emanate from entities outside the federal safety net. At the same time, it limits the types of interventions by...

Persistent link: https://www.econbiz.de/10009721298

Fire-sale spillovers and systemic risk

Duarte, Fernando; Eisenbach, Thomas M. - 2013

We construct a new systemic risk measure that quantifies vulnerability to fire-sale spillovers using detailed regulatory balance sheet data for U.S. commercial banks and repo market data for broker-dealers. Even for moderate shocks in normal times, fire-sale externalities can be substantial. For...

Persistent link: https://www.econbiz.de/10010202672