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Banking reform
Jackson, Patricia; Davies, Howard; Miles, David; … - SUERF Conference on Banking Reform <2015, London>; … - 2016
On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...
Persistent link: https://www.econbiz.de/10011554963
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Why do banks bear interest rate risk?
Memmel, Christoph - 2017
bank-level data for German banks, we find evidence that a bank's exposure to interest rate risk depends on its presumed … optimization horizon. The longer the presumed optimization horizon is, the more the bank is exposed to interest rate risk in its … exposure to interest rate risk. The more a bank is exposed to the risk of a decline in the interest rate level, the higher its …
Persistent link: https://www.econbiz.de/10011764838
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Regulatory changes and the cost of capital for banks
Kovner, Anna; Van Tassel, Peter - 2018
We estimate the cost of capital for the banking industry and find that while the cost of capital soared for banks in the financial crisis, after the passage of the Dodd-Frank Act, the value-weighted cost of capital for banks fell differentially more than did the cost of capital for nonbanks. The...
Persistent link: https://www.econbiz.de/10011868475
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On the cash-flow and control rights of contingent capital
Mitchell, Chris - 2018
This paper develops a model of banking to study the risk-taking consequences of contingent capital (CC). It begins with the observation that partial conversion of CC provides its owners with a portfolio of equity and debt. Since the former (latter) asset typically induces a preference for risk...
Persistent link: https://www.econbiz.de/10011921926
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Equity versus bail-in debt in banking : an agency perspective
Mendicino, Caterina; Nikolov, Kalin; Suárez, Javier - 2017
We examine the optimal size and composition of banks' total loss absorbing capacity (TLAC). Optimal size is driven by the trade-off between providing liquidity services through deposits and minimizing deadweight default costs. Optimal composition (equity vs. bail-in debt) is driven by the...
Persistent link: https://www.econbiz.de/10011978192
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Banks' complexity-risk nexus and the role of regulation
Martynova, Natalya; Vogel, Ursula - 2021
We investigate the relationship between bank complexity and bank risk-taking using German banking data over the period …
Persistent link: https://www.econbiz.de/10012510180
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Cost of Equity, Enterprise Value and Capital Regulation of Banking Firms
Masera, Rainer - 2013
must be carefully analysed before endorsing the general statement that “bank equity is not expensive”. In fact, specific … argue that market prices (notably price-to-book ratios) should play a primary role in bank supervision. To support our …-shifting phenomena on banks' assets, notably when price-to-book values are below one, may increase the overall risk of the bank, and …
Persistent link: https://www.econbiz.de/10013089413
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Impact of Government Bailout on Banks' Cost of Equity : Additional Evidence from the Financial Bailout of 2008-2009
Wang, Daphne - 2020
This study evaluates the effect of the Capital Purchase Program during the 2008-2009 financial crisis on the cost of equity of 170 publicly listed banks in the United States that received funding. We document robust evidence that the liquidity provided by the government bailout reduced the cost...
Persistent link: https://www.econbiz.de/10012841209
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Deregulation and Banks’ Cost of Equity Capital
Berger, Allen N. - 2020
We examine the effects of geographic deregulation on banks' cost of equity (COE) using changes in interstate bank …
Persistent link: https://www.econbiz.de/10012850786
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Evaluating Regulatory Reform : Banks’ Cost of Capital and Lending
Kovner, Anna - 2020
regulation than for other banks and firms. Over a longer twenty-year horizon, we find that changes in the systematic risk of bank …
Persistent link: https://www.econbiz.de/10012852028