The legal environment for Securities Prospectuses in Germany has changed dramatically with the implementation of the … German Securities Prospectus Act (Wertpapierprospektgesetz - WpPG) and the Commission Regulation (EC) No. 809/2004 of 29 …

of all the outstanding U.S. Treasury securities. Our results indicate the existence of an economically and statistically … significant scarcity premium, especially for shorter-term securities. The estimated scarcity effect is quite persistent, seems to …

indicators are based on granular data from securities holdings statistics and help us disentangle the main drivers of the … area banks significantly decreased their investment in debt securities issued by banks in other euro area countries and … flight from government debt securities, a trend that has since reversed. …

We present a standard model of financial innovation, in which intermediaries engineer securities with cash flows that …. Second, investors demand securities with safe cash flows. Financial intermediaries cater to these preferences and beliefs by … engineering securities perceived to be safe but exposed to neglected risks. Because the risks are neglected, security issuance is …

Monetary policy transmission may be impaired if banks rebalance their portfolios towards securities to e.g. risk … security registers. In crisis times, with higher ECB liquidity, less capitalized banks react by increasing securities over … credit supply, inducing worse firm-level real effects. However, they buy securities with lower yields and haircuts, thus …