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Finance and Efficiency: Do Bank Branching Regulations Matter?
Acharya, Viral V.; Imbs, Jean; Sturgess, Jason - 2006
financial development has important consequences for the efficiency and specialization (or diversification) of investments, in a …
Persistent link: https://www.econbiz.de/10005162993
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Lender of last resort versus buyer of last resort : evidence from the European sovereign debt crisis
Acharya, Viral V.; Pierret, Diane; Steffen, Sascha - 2018
We document the mechanism through which the risk of fire sales in the sovereign bond market contributed to the effectiveness of two major central bank interventions designed to restore financial stability during the European sovereign debt crisis. As a lender of last resort via the long-term...
Persistent link: https://www.econbiz.de/10011899821
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Finance and Efficiency: Do Bank Branching Regulations Matter?
Acharya, Viral V.; Imbs, Jean; Sturgess, Jason - Institut für Schweizerisches Bankwesen <Zürich> - 2007
that financial development has important consequences for efficiency and specialization (or diversification) of investments …
Persistent link: https://www.econbiz.de/10005858336
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Finance and Efficiency : Do Bank Branching Regulations Matter?
Acharya, Viral V. - 2012
. They suggest that improving bank access to branching affects the sectoral specialization (or diversification) of output, in …
Persistent link: https://www.econbiz.de/10012713156
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Finance and Efficiency : Do Bank Branching Regulations Matter?
Acharya, Viral V. - 2010
We document that the deregulation of bank branching restrictions in the United States triggered a reallocation across sectors, with end effects on state-level volatility. The change cannot be explained simply by shifts in sector-level returns and volatility. A reallocation effect is at play,...
Persistent link: https://www.econbiz.de/10013143586
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How do global banks scramble for liquidity? Evidence from the asset-backed commercial paper freeze of 2007
Acharya, Viral V.; Afonso, Gara; Kovner, Anna - 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/10010333602
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How do global banks scramble for liquidity? : evidence from the asset-backed commercial paper freeze of 2007
Acharya, Viral V.; Afonso, Gara; Kovner, Anna - 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/10009781869
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Should banks be diversified? Evidence from individual bank loan portfolios
Hasan, Iftekhar; Saunders, Anthony; Acharya, Viral V. - Bank for International Settlements (BIS) - 2002
We study empirically the effect of focus (specialization) vs. diversification on the return and the risk of banks using …) focus and diversification using a unique data set that is able to identify individual bank loan exposures to different … expansion into newer or competitive industries. Our most important findings are that industrial loan diversification reduces …
Persistent link: https://www.econbiz.de/10005063334
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Does the lack of financial stability impair the transmission of monetary policy?
Acharya, Viral V.; Imbierowicz, Björn; Steffen, Sascha; … - 2019
We investigate the transmission of central bank liquidity to bank deposits and loan spreads in Europe over the January 2006 to June 2010 period. We find evidence consistent with an impaired transmission channel due to bank risk. Central bank liquidity does not translate into lower loan spreads...
Persistent link: https://www.econbiz.de/10011994210
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A Crisis of Banks as Liquidity Providers
Acharya, Viral V. - 2013
Can banks maintain their advantage as liquidity providers when exposed to a financial crisis? While banks honored their credit lines drawn by firms during the 2007-09 crisis, this provision of liquidity by banks was only possible because of explicit, large support from the government and...
Persistent link: https://www.econbiz.de/10013091384