Showing 1 - 10 of 1,290
We propose a model of asset encumbrance by banks subject to rollover risk and study the consequences for fragility, funding costs, and prudential regulation. A bank's choice of encumbrance trades off the benefit of expanding profitable investment funded by cheap long-term secured debt against...
Persistent link: https://www.econbiz.de/10011978300
Banking has grown too much in Europe - in three senses. First, the European banking system has reached a size where its contribution to real economic growth is likely to be nil or negative. Second, the European financial structure is biased towards banks (rather than securities markets), which...
Persistent link: https://www.econbiz.de/10011971215
Supervisory authorities around the world are currently engaged in a policy debate over how to improve the information available on repurchase agreements (repos) and securities lending markets. Repo and securities lending transactions commonly referred to as securities financing transactions...
Persistent link: https://www.econbiz.de/10011971527
Collateral plays a very important role in financial markets. Without easy access to high-quality collateral, dealers … economy through increased financing costs. The role of collateral has become increasingly significant since the global … paper introduces a new measure of collateral reuse and studies the drivers of the cost of obtaining high-quality collateral …
Persistent link: https://www.econbiz.de/10011978326
-mentioned key services, especially when programmes are larger and/or are retained by the issuer for use as collateral with the … for networks based on the use of securities as Eurosystem collateral. These findings help demonstrate the importance of …
Persistent link: https://www.econbiz.de/10011745805
Persistent link: https://www.econbiz.de/10000345751
Persistent link: https://www.econbiz.de/10000129552
Persistent link: https://www.econbiz.de/10000828163
Persistent link: https://www.econbiz.de/10000607484