We study whether tax considerations are an important determinant of commercial mortgage default. We also study whether large lenders are better informed, or better at interpreting information for lending purposes, and hence have lower foreclosure rates; whether lenders have more information on...

This report reviews the macroeconomic determinants of the rapid growth in the Spanish housing market, including various policy elements. It examines the vulnerabilities of households' finances as a result of the rapid growth of housing prices and mortgage debt. It also describes the Spanish...

As in other advanced economies, there has been a significant run-up of household debt in Sweden during the last two decades accompanied by rising housing prices, prompting concerns about sustainability and the implications for financial stability. The rise in household debt and the banking...

This technical note presents a comparative analysis of the Danish Mortgage Market. It discusses the particularities of the regulatory framework of the Danish mortgage system. The note compares and contrasts mortgage financing in Denmark and in other European countries, looking both at the...

In this article, Michael Mahlknecht and Konstantin Oppl present an innovative graphical analysis method, which enables to achieve a visualization of hidden risks in complex structured products, to perform real-time graphical dynamic hedging, to graphically calibrate volatility and correlation...

This study examines the effects of implementation of IAS 32, IAS 39 and IFRS 7 on Greek and UK banks' profitability during the period 2001-2008. The investigation period has been separated into the period before, during and after IFRS implementation. The empirical findings suggest that,...

On 8 October 2008 the UK Government announced a far-reaching plan to restore financial stability, protect depositors and re-invigorate the flow of credit to businesses and individuals in the UK. The £400 billion bailout plan embraced three elements: a massive expansion in emergency liquidity...

On 14 September 2007, after failing to find a 'White Knight' to take over its business, Northern Rock bank turned to the Bank of England ('the Bank') for a liquidity lifeline. This was duly provided but failed to quell the financial panic, which manifested itself in the first fully-blown...

Within the current theoretical literature it has been established that banks tend to maintain the regulatory capital requirements either by raising additional capital through equity issues or by selling/substituting risky assets. This paper bridges the gap for a comparative explanation in...