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Has Financial Innovation Made the World Riskier? CDS, Regulatory Arbitrage and Systemic Risk
Yorulmazer, Tanju - 2013
systemic risk. Equity capital acts as a buffer against losses, and reduces incentives for excessive risk taking. Basel capital … lower capital requirements resulting in excessive risk taking. Furthermore, the bank and the CDS seller (insurer) prefer … high correlation in their returns and jointly shift the risk to the regulator. CDS can be traded at a price higher than its …
Persistent link: https://www.econbiz.de/10013089650
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Origins and Resolution of Financial Crises; Lessons from the Current and Northern European Crises
Ostrup, Finn; Oxelheim, Lars; Wihlborg, Clas - 2009
Since July 2007 the world economy has experienced a severe financial crisis originating in the U.S. housing market. The crisis has subsequently spread to the financial sectors in European and Asian economies and led to a severe worldwide recession. The existing literature on financial crises...
Persistent link: https://www.econbiz.de/10010320249
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Is this the Minsky moment for reform of financial regulation?
Kregel, Jan - 2010
The current financial crisis has been characterized as a 'Minsky' moment, and as such provides the conditions required for a reregulation of the financial system similar to that of the New Deal banking reforms of the 1930s. However, Minsky's theory was not one that dealt in moments but rather in...
Persistent link: https://www.econbiz.de/10010281747
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Is this the Minsky moment for reform of financial regulation?
Kregel, Jan A. - 2010
The current financial crisis has been characterized as a “Minsky” moment, and as such provides the conditions required for a reregulation of the financial system similar to that of the New Deal banking reforms of the 1930s. However, Minsky’s theory was not one that dealt in moments but...
Persistent link: https://www.econbiz.de/10003943140
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Die internationale Finanzkrise : Ursachen, Treiber, Veränderungsbedarf und Reformansätze
Rudolph, Bernd - 2009
Der vorliegende Beitrag beschäftigt sich mit der Aufarbeitung der Hintergründe der Subprime-Krise sowie der nachfolgenden internationalen Banken- und Finanzkrisen. Auf dieser Basis werden Vorschläge diskutiert, wie die erkannten Schwachstellen im Finanzsystem repariert bzw. behoben werden...
Persistent link: https://www.econbiz.de/10003922564
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The unfolding turmoil of 2007 - 2008 : lessons and responses
Cohen, Benjamin H.; Remolona, Eli M. - 2008
recurrence of crises reflects a basic procyclicality in the system, which is characterized by a build-up of risk-taking and … leverage in good times and an abrupt withdrawal from risk and an unwinding of leverage in bad times. To deal with the adverse … for risk-taking may be aligned more properly and areas where risk management may be made more robust. Nonetheless a …
Persistent link: https://www.econbiz.de/10003855412
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Banking supervision in integrated financial markets : implications for the EU
Stolz, Stéphanie Marie - 2002
I analyze the optimal design of banking supervision in the presence of cross-border lending. Cross-border lending could imply that an individual bank failure in one country could trigger negative spillover effects in another country. Such cross-border contagion effects could turn out to be...
Persistent link: https://www.econbiz.de/10011514035
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Cross-border liquidity, relationships and monetary policy : evidence from the Euro area interbank crisis
Abbassi, Puriya; Bräuning, Falk; Fecht, Falko; … - 2014 - This version: November 2014
We analyze the impact of financial crises and monetary policy on the supply of wholesale funding liquidity, and also on the compositional supply effects through cross-border and relationship lending. For empirical identification, we draw on the proprietary bank-to-bank European interbank dataset...
Persistent link: https://www.econbiz.de/10010471858
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Origins and resolution of financial crises : lessons from the current and Northern European crises
Ostrup, Finn; Oxelheim, Lars; Wihlborg, Clas - 2009
Since July 2007 the world economy has experienced a severe financial crisis originating in the U.S. housing market. The crisis has subsequently spread to the financial sectors in European and Asian economies and led to a severe worldwide recession. The existing literature on financial crises...
Persistent link: https://www.econbiz.de/10003843236
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The impact of cross-border banking on financial stability
Schoenmaker, Dirk; Wagner, Wolf - 2011
This paper focuses on the stability aspects of cross-border banking. We first argue that cross-border banking brings about various benefits and costs for financial stability. Based on this, we draw conclusions for the desirability of cross-border banking in the EU, and derive implications for...
Persistent link: https://www.econbiz.de/10011386153