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Liquidity, Leverage, and Lehman : A Structural Analysis of Financial Institutions in Crisis
Chen, Ren-Raw - 2015
The failure of Lehman Brothers highlighted the severe lapses in risk management and regulatory oversight that brought on and intensified the global financial crisis. This paper presents a structural credit risk model that provides useful early warning signals that regulators could have used to...
Persistent link: https://www.econbiz.de/10013035485
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Cash Holdings, Market Frictions and Monetary Policy : An Investigation of Increase in Cash Holdings
Zaman, Ashraf Al - 2017
We investigate the secular increase in the corporate cash holding over the period 1980-2006. We show that along with firm characteristic–related variables, monetary policy and banking structure have a significant bearing on corporate cash holdings, as they determine the opportunity cost of...
Persistent link: https://www.econbiz.de/10012975214
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The Impact of Specific Liquidity Shocks on the Bank’s Solvency
Dhima, Julien; Bruneau, Catherine - 2023
We show that a liquidity shock can affect the solvency of a bank and cause its default if the bank does not hold enough … individual bank. These shock scenarios are materialized by different net demands for withdrawal of funds (NDWF) - which are not … necessarily justified by the solvency situation of the bank before the initial shock - and may lead the bank to sell illiquid …
Persistent link: https://www.econbiz.de/10014350497
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The SSM at 1
Laeven, Luc; Draghi, Mario; Dombret, Andreas R.; … - SUERF - The European Money and Finance Forum; Deutsche …; … - 2016
On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...
Persistent link: https://www.econbiz.de/10011557140
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Do business groups affect corporate cash holdings? : evidence from a transition economy
Cai, Weixing; Zeng, Cheng; Lee, Edward; Ozkan, Neslihan - In: China journal of accounting research : CJAR 9 (2016) 1, pp. 1-24
We examine whether business groups’ influence on cash holdings depends on ownership. Group affiliation can increase firms’ agency costs or benefit firms by providing an internal capital market, especially in transition economies characterized by weak investor protection and difficult...
Persistent link: https://www.econbiz.de/10011844586
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The blessing of cash
Krüger, Malte; Seitz, Franz - 2017
This study investigates the benefits of cash in a general context. First, we explicitly address the arguments of cash critics, who are calling for cash to be abolished altogether. Second, we show that cash plays a crucial role in the current two-tier banking system. Third, we are discussing a...
Persistent link: https://www.econbiz.de/10011731033
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The Impact of Central Bank Liquidity Support on Banks’ Balance Sheets
de Haan, Leo - 2019
We empirically analyse the relationship between longer term central bank liquidity support and banks' balance sheet …
Persistent link: https://www.econbiz.de/10012860052
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The impact of central bank liquidity support on banks' balance sheets
Haan, Leo de; Holton, Sarah; End, Jan-Willem van den - 2019
We empirically analyse the relationship between longer term central bank liquidity support and banks' balance sheet …
Persistent link: https://www.econbiz.de/10012117687
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Central Bank Collateral, Asset Fire Sales, Regulation and Liquidity
Bindseil, Ulrich - 2013
This paper analyses the potential roles of bank asset fire sales and recourse to central bank credit to ensure banks …' funding liquidity and solvency. Both asset liquidity and central bank haircuts are modelled as power functions within the unit … interval. Funding stability is captured as strategic bank run game in pure strategies between depositors. Asset liquidity, the …
Persistent link: https://www.econbiz.de/10013073375
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Optimal Centralization of Liquidity Management
Pokutta, Sebastian - 2009
volatility and the characteristic of the bank network. Finally, we discuss the n-branch model for real-world banking groups (n …
Persistent link: https://www.econbiz.de/10013156868