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Carletti, Elena; Hartmann, Philipp; Spagnolo, Giancarlo - 2003

We model the impact of bank mergers on loan competition, banks' reserve holdings and aggregate liquidity. Banks compete … in liquidity risk and expected liquidity needs for each bank and for the banking system. Large mergers tend to increase … expected aggregate liquidity needs, and thus the liquidity provision by the central bank. Comparative statics suggest that a …

Persistent link: https://www.econbiz.de/10009635892

Developing statistical indicators of the integration of the euro area banking system

Manna,Michele - 2004

This paper discusses a wide range of indicators of the degree of integration of the euro area banking system. It is concerned with volume data, a less developed field of research compared with studies on prices/rates. We first set out a methodological framework, a mixture of elementary and more...

Persistent link: https://www.econbiz.de/10009636523

Guess what

Koeppl, Thorsten V.; Monnet, Cyril - 2004

Exchanges and other trading platforms are often vertically integrated to carry out trading, clearing and settlement as one operation. We show that such vertical silos can prevent efficiency gains from horizontal consolidation of trading and settlement platforms to be realized. Independent of the...

Persistent link: https://www.econbiz.de/10009639429

Raising rival's costs in the securities settlement industry

Holthausen, Cornelia; Tapking, Jens - 2004

The competition between a central securities depository (CSD) and a custodian bank is analysed in a Stackelberg model …. The CSD sets its prices first, the custodian bank follows. There are many investor banks each of which has to decide … whether to use the service of the CSD or of the custodian bank. This decision depends on the prices and the investor bank …

Persistent link: https://www.econbiz.de/10009639430

An analysis of systemic risk in alternative securities settlement architectures

Iori, Giulia - 2004

This paper compares securities settlement gross and netting architectures. It studies settlement risk arising from exogenous operational delays and compares settlement failures between the two architectures as functions of the length of the settlement interval under different market conditions....

Persistent link: https://www.econbiz.de/10009639464

What drives the network’s growth?

Alexandrova-Kabadjova, Biliana; Negrín, José Luis - 2009

This paper investigates the impact on the network growth of the level of merchant discount, the level of Multilateral Interchange Fee (MIF), and the consumers' and the merchants' awareness of positive network effects. In an artificial market, in which issuers and acquirers belong to the same...

Persistent link: https://www.econbiz.de/10009640427

Risk spillover among hedge funds

Klaus, Benjamin; Rzepkowski, Bronka - 2009

This paper aims at analysing the mortality patterns of hedge funds over the period January 1994 to May 2008. In particular, we investigate the extent to which a spillover of risk among hedge funds through redemptions and failures of other funds has affected the probability of fund failure. We...

Persistent link: https://www.econbiz.de/10009640467

Financial sector taxation

Europäische Kommission - 2010

Persistent link: https://www.econbiz.de/10009640494

Finance and growth in the EU

De Ávila, Diego Romero - 2003

This paper analyses the link between finance and growth by studying the effect that the process of financial deregulation and harmonisation of banking laws at the EU level has brought about on growth over the last 40 years. Our main findings point to the existence of a positive long-run growth...

Persistent link: https://www.econbiz.de/10009635911

A monthly monetary model with banking intermediation for the euro area

Bruggeman, Annick; Donnay, Marie - 2003

demand and a loan demand model which both include the relation between the respective retail bank rates and the short … for the existence of a bank lending channel. Finally, the estimation of the Structural-VECM highlights very rich dynamics …

Persistent link: https://www.econbiz.de/10009635913

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