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causal effects of bank bailouts are considered …
Persistent link: https://www.econbiz.de/10012862020
We propose a methodology for measuring the market-implied capital of banks by subtracting from the market value of equity (market capitalization) a credit-spread-based correction for the value of shareholders' default option. We show that without such a correction, the estimated impact of a...
Persistent link: https://www.econbiz.de/10013168743
This paper studies the relationship between corporate governance and the systemic risk of financial institutions. Specifically, using a sample of large U.S. financial institutions from 2005 to 2010, we examine whether the strength of corporate governance mechanisms can explain the...
Persistent link: https://www.econbiz.de/10013032807
range of real sectors is limited. Our results imply that regulators and supervisors should address international bank … dependencies arising from common risk factors, while recessions in real sectors due to bank defaults should be a secondary concern. …
Persistent link: https://www.econbiz.de/10009784871
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 …
Persistent link: https://www.econbiz.de/10011451099
financial penalties and address the question whether bank regulators limit or contribute to banks' systemic risk …
Persistent link: https://www.econbiz.de/10012934435
results highlight the importance of the starting level of bank capital, bank asset quality, and banks' adjustments for the …
Persistent link: https://www.econbiz.de/10012033284
In 2019, the so-called “Capital Requirements” Directive 2013/36/EU (CRD IV) was amended by virtue of Directive (EU) 2019/878 (CRD V) in respect to several aspects, including the supervision of financial holding companies and mixed financial holding companies. The new rules apply from 1...
Persistent link: https://www.econbiz.de/10013229774
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
This article analyses the effects of the bank restructuring process performed in Spain between 2010 and 2016. First, we … Bank of Spain. Second, we investigate whether these reforms affected (i) the stability, (ii) the degree of competition, and … instability. On the other hand, the increasing bank market power fostered financial stability (i.e., lower risk-taking behaviour …
Persistent link: https://www.econbiz.de/10011819351