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previous research on the role of central banks as lenders of last resort in crises and on the real effects of bank lending and …
Persistent link: https://www.econbiz.de/10010413174
This paper distils three lessons for bank regulation from the experience of the 2009-12 euro-area financial crisis …. First, it highlights the key role that sovereign debt exposures of banks have played in the feedback loop between bank and …
Persistent link: https://www.econbiz.de/10010424982
The euro crisis was fueled by the diabolic loop between sovereign risk and bank risk, coupled with cross-border flight …
Persistent link: https://www.econbiz.de/10012982881
, which therefore reinforced the "moral suasion" mechanism. Bank exposures significantly amplified the impact of sovereign … stress on bank lending to domestic firms, as well as on lending by foreign subsidiaries of stressed-country banks to firms in …
Persistent link: https://www.econbiz.de/10012971283
Using novel monthly data for 226 euro-area banks from 2007 to 2015, we investigate the causes and effects of banks’ sovereign exposures during and after the euro crisis. First, in the vulnerable countries, the publicly owned, recently bailed out and less strongly capitalized banks reacted to...
Persistent link: https://www.econbiz.de/10013248885
especially in coincidence with the largest ECB liquidity injections. Second, bank exposures significantly amplified the …
Persistent link: https://www.econbiz.de/10011541386
Using novel monthly data for 226 euro-area banks from 2007 to 2015, we investigate the causes and effects of banks' sovereign exposures during and after the euro crisis. First, in the vulnerable countries, the publicly owned, recently bailed out and less strongly capitalized banks reacted to...
Persistent link: https://www.econbiz.de/10011974892
Using novel monthly data for 226 euro-area banks from 2007 to 2015, we investigate the determinants of changes in banks’ sovereign exposures and their effects during and after the euro crisis. First, the publicly owned, recently bailed out and less strongly capitalized banks reacted to...
Persistent link: https://www.econbiz.de/10013315487
In both the subprime crisis and the euro-area crisis, regulators imposed bans on short sales, aimed mainly at preventing stock price turbulence from destabilizing financial institutions. Contrary to the regulators’ intentions, financial institutions whose stocks were banned experienced greater...
Persistent link: https://www.econbiz.de/10013248972
In both the subprime crisis and the eurozone crisis, regulators imposed bans on short sales, aimed mainly at preventing stock price turbulence from destabilizing financial institutions. Contrary to the regulators' intentions, financial institutions whose stocks were banned experienced greater...
Persistent link: https://www.econbiz.de/10012855809