CCPs; and the implications for bank, insurer and asset manager business models, in particular whether Brexit would act as a …

of capital markets and banking systems as well as the distribution of access to external finance across firms …

imperfectly elastic supply of bank equity stemming from financial market segmentation. In our model, equity is costly and serves … and the design of bank stress testing. …

constrained efficient when supplemented with the same government liquidity regulation that is required to make a banking system …

The paper focuses on the interaction between the solvency probability of a banking firm and the diversification … risk (VaR) into the firm-theoretical model of a banking firm facing the risk of asset return. Given the necessity to …

bank issues covered bonds backed by a pool of assets that is bankruptcy remote and replenished following losses …. Encumbering assets allows a bank to raise cheap secured debt and expand profitable investment, but it also concentrates risk on …

foster additional non-bank sources of finance, mobilize private savings more efficiently and enhance capital market … finances. In a CMU sovereign risks have to be treated adequately in bank regulation. Third, it should be assessed in advance … which sources of non-bank finance will be demanded by companies and will become systemic. We recommend an integrated …