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The Riskiness of Credit Allocation and Financial Stability

Brandao-Marques, Luis - 2019

We explore empirically how the time-varying allocation of credit across firms with heterogeneous credit quality matters for financial stability outcomes. Using firm-level data for 55 countries over 1991-2016, we show that the riskiness of credit allocation, captured by Greenwood and Hanson...

Persistent link: https://www.econbiz.de/10012859862

Contingent Credit Under Stress

Acharya, Viral V.; Jager, Maximilian; Steffen, Sascha - National Bureau of Economic Research - 2023

Over the past two decades, banks have increasingly focused on offering contingent credit in the form of credit lines as a primary means of corporate borrowing. We review the existing body of research regarding the rationales for banks' provision of liquidity insurance in the form of credit...

Persistent link: https://www.econbiz.de/10014437040

Internal vs. external corporate social responsibility at U.S. banks

Bolton, Brian - In: International Journal of Financial Studies : open … 8 (2020) 4/65, pp. 1-28

performance. I find that banks' investments in CSR have a positive impact on financial performance, measured in terms of both … accounting performance and stock market value. However, not all CSR investments are the same. I distinguish between internal CSR … their internal CSR investments. Banks with a larger gap between internal and external CSR investments have worse performance …

Persistent link: https://www.econbiz.de/10012321121

The impact of the Basel accord on Greek banks : a stress test study

Leventides, John; Donatou, Anna - In: Journal of risk and financial management : JRFM 8 (2015) 2, pp. 181-197

In this paper, we study the impact of extreme events on the loan portfolios of the Greek banking system. These portfolios are grouped into three separate groups based on the size of the bank to which they belong, in particular, large, medium, and small size. A series of extreme scenarios was...

Persistent link: https://www.econbiz.de/10011545145

The effect of large investors on asset quality : evidence from subprime mortgage securities

Adelino, Manuel; Frame, W. Scott; Gerardi, Kristopher - 2014

This paper examines how the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, the largest investors in subprime private-label mortgage-backed securities (PLS), influenced the risk characteristics and prices of the deals in which they participated. To identify the causal effect...

Persistent link: https://www.econbiz.de/10010337605

Traditional banks, shadow banks and the US credit boom : credit origination versus financing

Unger, Robert - 2016

The US credit boom has been identified as one of the causes of the global financial crisis and the resulting debt overhang is seen as the primary reason for the weak economic recovery. Most of the existing literature links the credit boom to the emergence of the shadow banking system. This paper...

Persistent link: https://www.econbiz.de/10011456517

Peer to peer lending : a (financial stability) risk perspective

Käfer, Benjamin - 2016

The aim of this paper is to discuss P2P lending, a subcategory of crowdfunding, from a (financial stability) risk perspective. The discussion focuses on a number of dimensions such as the role of soft information, herding, platform default risk, liquidity risk, and the institutionalization of...

Persistent link: https://www.econbiz.de/10011458773

Sorting Out the Real Effects of Credit Supply

Chang, Briana - 2020

We document that banks which cut lending the most during the Great Recession were lending to the riskiest firms. Motivated by this evidence, we build a competitive matching model of bank-firm relationship, in which firms with riskier projects borrow from the banks with lower holding costs (e.g....

Persistent link: https://www.econbiz.de/10012839527

The Rise and Fall of Bank Credit Securitisation : Capital Relief, Augmented Lending and Spillover Effects

Neumann, Niklas - 2017

Securitisation allows banks to swap risky assets for cash and thereby boost regulatory capital measures and attain a higher balance sheet turnover. As a result, access to securitisation lowers banks' dependence on capital in lending and increases credit supply. In my empirical strategy I compare...

Persistent link: https://www.econbiz.de/10012952237

Systemic Financial Risk Indicators and Securitised Assets : an Agent-Based Framework

Mazzocchetti, Andrea - 2019

The paper presents an agent-based model of a credit economy which includes a securitisation process and a bailout mechanism for banks' bankruptcies. Within this model's framework banks are able to sell mortgages to a Financial Vehicle Corporation, which finances its activity by creating...

Persistent link: https://www.econbiz.de/10012896187

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