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The Failure of Northern Rock - A Multidimensional Case Study
Eisenbeis, Robert Allen; Taylor, Michael William; … - SUERF - The European Money and Finance Forum
institutional architecture in the United Kingdom and most especially with regard to insolvency arrangements for banks and the … arrangements and those for the insolvency of financial institutions. She also detects weaknesses in the workings of the emergency … liquidity assistance arrangements. The main focus of the contribution is on bank insolvency and bank crisis management, and the …
Persistent link: https://www.econbiz.de/10004982519
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United States; Publication of Financial Sector Assessment Program Documentation: Technical Note on Crisis Management Arrangements
International Monetary Fund (IMF); International … - 2010
This paper presents a technical note on Crisis Management Arrangements for the United States. The crisis has seen widespread systemic instability, large-scale fiscal support, and an increase in moral hazard. The lack of a formal systematic process for the assessment of risks may have contributed...
Persistent link: https://www.econbiz.de/10011245009
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Regulatory Capture in Banking
International Monetary Fund (IMF); International … - 2006
Banks will want to influence the bank regulator to favor their interests, and they typically have the means to do so. It is shown that such "regulatory capture" in banking does not imply ineffectual regulation; a "captured" regulator may impose very tight, costly prudential requirements to...
Persistent link: https://www.econbiz.de/10005264136
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Bank Funding Structures and Risk; Evidence From the Global Financial Crisis
Federico, Pablo; Vázquez, Francisco F. - International Monetary Fund (IMF) - 2012
This paper analyzes the evolution of bank funding structures in the run up to the global financial crisis and studies the implications for financial stability, exploiting a bank-level dataset that covers about 11,000 banks in the U.S. and Europe during 2001?09. The results show that banks with...
Persistent link: https://www.econbiz.de/10009650626
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Capital Regulation and Tail Risk
International Monetary Fund (IMF); International … - 2011
The paper studies risk mitigation associated with capital regulation, in a context where banks may choose tail risk asserts. We show that this undermines the traditional result that high capital reduces excess risk-taking driven by limited liability. Moreover, higher capital may have an...
Persistent link: https://www.econbiz.de/10009293759
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Systemic Risk and Optimal Regulatory Architecture
Espinosa-Vega, Marco A; Matta, Rafael; Kahn, Charles M.; … - International Monetary Fund (IMF) - 2011
Until the recent financial crisis, the safety and soundness of financial institutions was assessed from the perspective of the individual institution. The financial crisis highlighted the need to take systemic externalities seriously when rethinking prudential oversight and the regulatory...
Persistent link: https://www.econbiz.de/10009293760
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Bank Competition and Financial Stability; A General Equilibrium Exposition
Lucchetta, Marcella; Nicoló, Gianni De - International Monetary Fund (IMF) - 2011
We study versions of a general equilibrium banking model with moral hazard under either constant or increasing returns to scale of the intermediation technology used by banks to screen and/or monitor borrowers. If the intermediation technology exhibits increasing returns to scale, or it is...
Persistent link: https://www.econbiz.de/10009401196
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The Bright and the Dark Side of Cross-Border Banking Linkages
Muñoz, Sònia; Scuzzarella, Ryan; Cihák, Martin - International Monetary Fund (IMF) - 2011
When a country's banking system becomes more linked to the global banking network, does that system get more or less prone to a banking crisis? Using model simulations and econometric estimates based on a world-wide dataset, we find an M-shaped relationship between financial stability of a...
Persistent link: https://www.econbiz.de/10009203546
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Are More Competitive Banking Systems More Stable?
Cihák, Martin; Wolfe, Simon; Schaeck, Klaus - International Monetary Fund (IMF) - 2006
This paper provides the first empirical analysis of the cross-country relationship between a direct measure of competitive conduct of financial institutions and banking system fragility. Using the Panzar and Rosse H-Statistic as a measure for competition in 38 countries during 1980-2003, we...
Persistent link: https://www.econbiz.de/10005825680
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Distance-To-Default in Banking; A Bridge too Far?
Sy, Amadou N. R.; Chan-Lau, Jorge A. - International Monetary Fund (IMF) - 2006
In contrast to corporate defaults, regulators typically take a number of statutory actions to avoid the large fiscal costs associated with bank defaults. The distance-to-default, a widely used market-based measure of corporate default risk, ignores such regulatory actions. To overcome this...
Persistent link: https://www.econbiz.de/10005825824