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Public Guarantees, Relationship Lending and Bank Credit : Evidence from the COVID-19 Crisis
Jiménez, Gabriel; Laeven, Luc; Martinez-Miera, David; … - 2022
during the COVID-19 crisis. We exploit exhaustive loan-level data from the credit register with unique information on the … provision of COVID-19 public loan guarantees in Spain. We find that firms are more likely to obtain a public guaranteed loan … less prone to recognize loan impairment, consistent with the public guarantee acting as a protection against (private …
Persistent link: https://www.econbiz.de/10013297111
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Tracking Variation in Systemic Risk at Us Banks During 1974-2013
Hovakimian, Armen - 2015
This paper proposes a theoretically based and easy-to-implement way to measure the systemic risk of financial institutions using publicly available accounting and stock market data. The measure models the credit enhancement taxpayers provide to individual banks in the Merton tradition (1974) as...
Persistent link: https://www.econbiz.de/10013017765
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Bank Size, Capital, and Systemic Risk : Some International Evidence
Laeven, Luc - 2014
This paper studies the significant variation in the cross-section of standalone and systemic risk of large banks during the recent financial crisis to identify bank specific factors that determine risk. We find that systemic risk grows with bank size and is inversely related to bank capital, and...
Persistent link: https://www.econbiz.de/10013045800
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Tracking Variation in Systemic Risk at US Banks During 1974-2013
Hovakimian, Armen - 2015
This paper proposes a theoretically based and easy-to-implement way to measure the systemic risk of financial institutions using publicly available accounting and stock market data. The measure models the credit enhancement taxpayers provide to individual banks in the Merton tradition (1974) as...
Persistent link: https://www.econbiz.de/10013036705
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Deposit Insurance Database
Demirguc-Kunt, Asli; Kane, Edward J.; Laeven, Luc - National Bureau of Economic Research (NBER) - 2014
This paper provides a comprehensive, global database of deposit insurance arrangements as of 2013. We extend our earlier dataset by including recent adopters of deposit insurance and information on the use of government guarantees on banks' assets and liabilities, including during the recent...
Persistent link: https://www.econbiz.de/10010969341
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Variation in Systemic Risk at US Banks During 1974-2010
Kane, Edward J.; Laeven, Luc; Hovakimian, Armen - National Bureau of Economic Research (NBER) - 2012
This paper proposes a theoretically sound and easy-to-implement way to measure the systemic risk of financial institutions using publicly available accounting and stock market data. The measure models credit risk of banks as a put option on bank assets, a tradition that originated with Merton...
Persistent link: https://www.econbiz.de/10011271389
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Benefits and Costs of Bank Capital
Dagher, Jihad C. - 2016
We find that capital in the range of 15–23 percent of risk-weighted assets would have been sufficient to absorb losses in the vast majority of historic banking crises in advanced economies. Further capital increases would have had only marginal effects on preventing additional crises....
Persistent link: https://www.econbiz.de/10012983286
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Monetary and macroprudential policy complementarities : evidence from European credit registers
Altavilla, Carlo; Laeven, Luc; Peydró, José-Luis - 2020
We document that there are strong complementarities between monetary policy and macroprudential policy in shaping the evolution of bank credit. We use a unique loanlevel dataset comprising multiple credit registers from several European countries and different types of loans, including corporate...
Persistent link: https://www.econbiz.de/10012390482
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Managing the sovereign-bank nexus
Dell'Ariccia, Giovanni; Ferreira, Caio; Jenkinson, Nigel; … - 2018
This paper identifies the various channels that give rise to a "sovereign-bank nexus" whereby the financial health of banks and sovereigns is intertwined. We find that banks and sovereigns are linked by three interacting channels: banks hold large amounts of sovereign debt; banks are protected...
Persistent link: https://www.econbiz.de/10011901498
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Do bank insiders impede equity issuances?
Götz, Martin; Laeven, Luc; Levine, Ross - 2021
We evaluate the role of insider ownership in shaping banks' equity issuances in response to the global financial crisis. We construct a unique dataset on the ownership structure of U.S. banks and their equity issuances and discover that greater insider ownership leads to less equity issuances....
Persistent link: https://www.econbiz.de/10012418825