College) gave the SUERF 2015 Annual Lecture on Capital and Banks. The conference focused on core aspects of banking reform …

We study the impact of higher bank capital buffers, namely of the Other Systemically Important Institu- tions (O …-SII) buffer, on banks' lending and risk-taking behaviour. The O-SII buffer is a macroprudential policy aiming to increase banks … therefore promote the build-up (or deleverage) of banks' risk-taking. Since the end of 2015, national authorities, under the EBA …

I investigate whether bank exposures to sovereign debt during the European debt crisis affected the real economy. I … show a shock to the marked-to-market (MTM) value of bank exposures to sovereign debt led to credit tightening in 2010 …–2011 that had negative real effects on small and young firms. Since banks do not usually mark their holdings of sovereign bonds …