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On 5-6 September 2012 SUERF held its 30th Colloquium “States, Banks, and the Financing of the Economy” at the University of Zürich, Switzerland. The papers included in this SUERF Study are based on contributions to the Colloquium. All the chapters in this publication discuss from different...
Persistent link: https://www.econbiz.de/10011689958
This paper proposes a practical approach to address the procyclicality of initial margin at central counterparties (CCPs) that can work even in periods of extreme stress. The approach allows CCPs to limit the speed of margin increases resulting from spikes in market volatility. To maintain the...
Persistent link: https://www.econbiz.de/10011538621
On 5-6 September 2012 SUERF held its 30th Colloquium "States, Banks, and the Financing of the Economy" at the University of Zürich, Switzerland. The papers included in this SUERF Study are based on contributions to the Colloquium. All the chapters in this publication discuss from different...
Persistent link: https://www.econbiz.de/10011711625
This paper looks at the development and transformation of the People's Republic of China (PRC)'s financial system since the start of economic and financial reforms in 1978. It describes how despite the rapid development of capital markets since the 1990s, the PRC's financial system continues to...
Persistent link: https://www.econbiz.de/10011811858
conditional profitability distributions. Real GDP growth and the NPL ratio are shown to be the most reliable determinants of bank … profitability. However, the estimated conditional distributions reveal that, while higher growth would raise profits on average, a …
Persistent link: https://www.econbiz.de/10012843521
We examine the effect of the full set of bank capital regulations (capital stringency) on loan growth, using bank … that overall capital stringency only has a weak negative effect on loan growth. In fact, this effect is completely offset … strongest negative effect on loan growth are those related to the prevention of banks to use as capital borrowed funds and …
Persistent link: https://www.econbiz.de/10012950022
Persistent link: https://www.econbiz.de/10009544923
Persistent link: https://www.econbiz.de/10009772972
This paper studies a dynamic version of the Holmstrom-Tirole model of intermediated finance. I show that competitive equilibria are not constrained efficient when the economy experiences a financial crisis. A pecuniary externality entails that banks' desire to accumulate capital over time...
Persistent link: https://www.econbiz.de/10009691196
Persistent link: https://www.econbiz.de/10010384298