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Lender of last resort versus buyer of last resort : the impact of the European Central Bank actions on the bank-sovereign nexus

Acharya, Viral V.; Pierret, Diane; Steffen, Sascha - 2016 - This version: February 29, 2016

In summer 2011, elevated sovereign risk in Eurozone peripheral countries increased the solvency risk of Eurozone banks … public funds to increase their exposure to risky domestic debt, so that when solvency risk in the Eurozone worsened the run … of private short-term investors from Eurozone banks intensified. (ii) In contrast, ECB’s announcement of being a …

Persistent link: https://www.econbiz.de/10011436391

Falling short of expectations? : stress-testing the European banking system

Acharya, Viral V.; Steffen, Sascha - 2014

Persistent link: https://www.econbiz.de/10010237180

Banking union for Europe : risks and challenges

Beck, Thorsten (contributor); Acharya, Viral V. (contributor) - 2012

Persistent link: https://www.econbiz.de/10009690489

Falling Short of Expectations? Stress-Testing the European Banking System

Acharya, Viral V. - 2015

The eurozone is mired in a recession. In 2013, the GDP of all 17 eurozone countries fell by 0.5% and the outlook for … system, a eurozone banking union is being established. An important part of the banking union is the Single Supervisory …

Persistent link: https://www.econbiz.de/10013034522

Falling Short of Expectations? Stress-Testing the European Banking System

Acharya, Viral V. - 2014

eurozone banking union, it plans to conduct an Asset Quality Review (AQR) throughout the coming year, which will identify the …

Persistent link: https://www.econbiz.de/10013060524

Bank use of sovereign CDS in the eurozone crisis : hedging and risk incentives

Acharya, Viral V.; Gündüz, Yalın; Johnson, Tim - 2018

Using a comprehensive dataset from German banks, we document the usage of sovereign credit default swaps (CDS) during the European sovereign debt crisis of 2008-2013. Banks used the sovereign CDS market to extend, rather than hedge, their long exposures to sovereign risk during this period....