This paper investigates the transmission mechanism of US (un)conventional monetary policy shocks to exchange rates through the lens of global investors’ portfolio rebalancing. The empirical findings show that a tightening US (un)conventional monetary surprise is associated with lower domestic...

1. From the point of view of competitive potential, our capabilities are currently very limited. In this regard, the main message is the need for economic growth, the development of the financial market and banks as its basis. Despite the sanctions, the consequences of the coronavirus crisis,...

Analysis of the adaptive potential of banks involves the study of financial stability issues. It is necessary to study stability of banks operating in the global economy and at the national and local levels. Assessment of the financial condition of banks can be carried out by the size of their...

In response to a growing awareness of the potential impact of climate change on financial stability, academics, financial institutions (FIs), central banks and supervisors (CB&S) have developed a suite of scenarios and analytical tools to assess forward-looking climate-related financial risks,...

This study is an investigation of the determinants of the development of technology-driven alternative credit markets, that is, fintech and bigtech credit. Using a data sample from 94 countries from 2013–2019, we confirmed the relevance of the availability of credit data, both the traditional...

The claims of international banks held up well during the COVID-19 crisis, although economic output fell by even more than during the Great Financial Crisis (GFC). Both cross-border and local claims were resilient, in advanced and emerging market economies alike. Looking at lending to the real...

To date, descriptive accounts and reform proposals have framed the problems arising from “shadow banking” as about the risks of lending and maturity transformation by nonbanks outside the guardrails of banking law. This Article shows that most shadow banks are engaged in the business of...

Using comprehensive auto loan data from Europe, we document a systematic gap in financing terms between Electric Vehicles (EVs) and non-EVs. Compared with the non-electric models within the same family or series, the electric models are financed with a higher interest rate, a lower loan-to-value...

We study whether floods can affect financial stability through a credit risk channel. Our focus is on the Netherlands, a country situated partly below sea level, where insurance policies exclude property damages caused by some types of floods. Using geocoded data for close to EUR 650 billion in...

An anonymous credential mechanism is a set of protocols that allows users to obtain credentials from an organization and demonstrate ownership of these credentials without compromising users' privacy. In this work, we construct the first secret-free and quantum-safe credential mechanism. The...