This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank … guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank … cheaply, effectively shifting the risk of some of the potential sovereign default losses on the common central bank. …

competitive environment affect bank monitoring choices and the effectiveness of capital regulation? Our approach deviates from the …

empirical support. We conclude that bank equity is not socially expensive, and that high leverage at the levels allowed, for …

mandatory for all banks was highly controversial. The regulators' view that such an inclusion would result in greater bank … of regulatory capital. Second, bank share prices reacted negatively (positively) to pronouncements that increased …

2003. In the last eighteen months it was chosen in three of the most recent bank mergers in Italy (Intesa-Sanpaolo IMI … investment bank Mediobanca.It was also suggested for Assicurazioni Generali by international institutional investors. This re …